Judgments

  • NFRA

NFRA imposes penalty of Rs. 4.50 crores on CA/Audit Firm for professional misconduct

NFRA imposes penalty of Rs. 4.50 crores on CA/Audit Firm for professional misconduct for not exercising due diligence In a…

2 weeks ago
  • Income Tax

SCN not giving minimum 7 days time to respond to proposed variation–Assessment set aside

Show cause not giving minimum seven days to respond to proposed variation – Assessment order set aside In a recent…

2 weeks ago
  • Income Tax

Even single loan given can be considered as money lending business for bad debts allowance

Even a single instance of loan given can be considered as money lending business for bad debts allowance - ITAT…

3 weeks ago
  • Service Tax

Service tax liability admitted before cut-off date is “quantified” under SVLDRS – HC

Service Tax Liability admitted Before Cut-off Date amounts to “quantified” under Sabka Vishwas (Legacy Dispute Resolution) Scheme- Allahabad High Court…

3 weeks ago
  • Income Tax

Voluntary ex-gratia compensation not taxable. Department has to confine to grounds of appeal 

Voluntary ex-gratia compensation not taxable u/s 17(3)(i). Department has to confine to the grounds taken in appeal - ITAT Voluntary…

3 weeks ago
  • Income Tax

When purchases & sales found genuine deposit out of cash sales can’t be treated non-genuine

When purchases & sales found genuine deposit out of cash sales can be treated as non-genuine - ITAT In a…

3 weeks ago
  • Income Tax

Interest u/s 244A payable from 1st April of AY when return filed within extended due date

Assessee was entitled to interest u/s 244A from 1st April of AY when return filed within extended due date -…

3 weeks ago
  • Income Tax

Debit entry cannot added u/s 68 as it speaks of “Cash Credit” not for debits entries  

The debit entry cannot be added under Section 68 as it speaks about “Cash Credit” and not for debits entries…

3 weeks ago
  • Income Tax

Conversion of unsecured loan of wife against allotment of share in joint names upheld

Conversion of unsecured loan of wife against allotment of share in joint names in closely held company upheld The ITAT…

3 weeks ago
  • Income Tax

Penalty u/s 271D stayed as assessee denied receiving cash and matter pending in Civil Court

Penalty u/s 271D stayed as assessee denied having received cash loan and matter was pending in Civil Court In a…

3 weeks ago