There is no bar in penalty u/s 271B for non-audit u/s 44AB if penalty u/s 271A is also levied for non-maintenance of books of accounts u/s 44AA – ITAT In a recent and interesting judgment, Guwahati ITAT has held that section 271B of the Income Tax Act does …

Cash book cannot be rejected when availability of stock in trade is not disputed as per stock register which is accepted. Sales out of available stock cannot be disregarded as ingenuine. In a recent judgment, ITAT Amritsar has held that cash book cannot be rejected when availability of …

Section 148 of Income Tax Act after 01.04.2021, does not even require recording reason to believe. In a recent judgment, Delhi High Court has held that language of section 148 of the Income Tax Act after 01.04.2021, does not even require recording reason to believe much less possession …

Income Tax Department, Lucknow is hiring Young Professional for assisting the Departmental Officers posted in various benches of ITAT, Lucknow With a view to augment departmental representation in ITAT, the Young Professional Scheme envisions engagement of Young Graduates in Law & Accountancy who are rich in domain knowledge. …

Burden of proof is on assessee to adduce cogent evidence that land sold was an agricultural land – Supreme Court dismisses SLP. In a recent judgment, Hon’ble Supreme Court dismissed SLP of the assessee against the judgment of Hon’ble Kerala High Court holding the land sold by the …

Civil Court decreed refund of security deposit of VAT era as in GST Regime there is no requirement of security deposit at the time of registration. In a recent judgment, Civil Court Judge decreed refund of security deposit in the form of Fixed Deposit given at the time …