Accommodation entry operators also routinely obtain PAN, file ITRs, and maintain bank accounts, to give a facade of legitimacy to sham transactions. In a recent judgment, Chhattisgarh High Court confirmed addition u/s 68 holding that accommodation entry operators also routinely obtain PAN, file ITRs, and maintain bank accounts, …

ICAI sets up two new branches : at Morbi and Bhiwandi The Institute of Chartered Accountants of India (ICAI) has changed the name of Ahmednagar Branch of WRIC of ICAI as Ahilyanagar Branch. ICAI has also notified the setting up of two branches of ICAI first at Morbi …

Central Government notifies amended Protocol between India and Belgium for Avoidance of Double Taxation and the Prevention of Fiscal Evasion of taxes. Central Government notifies the Protocol amending the Agreement and the Protocol between the Government of the Republic of India and the Government of the Kingdom of …

Competition Commission of India inviting applications for engagement of Young Professionals (YPs) The Competition Commission of India, New Delhi is inviting applications from eligible candidates for engagement of Young Professionals (YPs) on contract basis, to be posted at Delhi/Mumbai/Chennai. The selected YPs shall be posted in the following …

Penalty u/s 271D deleted as the amount of cash deposited in assess’s bank belonged to his father who was an agriculturist, not having any operating bank account. In a recent judgment, ITAT Chandigarh has deleted penalty under section 271D as the amount of cash deposited in assessee’s bank …

No penalty u/s 129(3) of GST Act for non-filling of Part -B of the e-way bill due to technical glitch when there was no intention to evade payment of tax In a recent judgment, Allahabad High Court has held that penalty under section 129(3) of the GST Act …