Foreign Tax Credit cannot be denied merely because there is a delay in filing Form-67 which is directory and not mandatory. In a recent judgment, the ITAT Hyderabad has held that Foreign Tax Credit cannot be denied merely because there is a delay in filing Form-67 as consistently …

ITAT allows issue of CPC adjustment made in intimation u/s 143(1) to be examined in proceedings u/s 143(3) In a recent judgment, the ITAT Bangalore has allowed issue of CPC adjustment made in intimation u/s 143(1) to be examined in proceedings u/s 143(3) observing that the object for …

Minimum 7 days time to furnish reply to notice u/s 148A(b) was not required in cases covered by search – ITAT In a recent judgment, the ITAT Surat dismissed the jurisdictional challenge to the validity of notice u/s 148 on the ground of less than 7 days time …

Assessee being a non-tax payer, cannot be expected to view the Portal after a lapse of 8 eight years – High Court In a recent judgment, the Hon’ble Madras High Court has quashed reassessment order observing that a non-tax payer cannot be expected to view the Income Tax …

Amount of share capital received in earlier year can not be taxed as unexplained cash credit in subsequent Year – ITAT In a recent judgment, ITAT Kolkata deleted the addition made as unexplained cash credit u/s 68 for share capital received in earlier year on the pretext that …

IDBI invites application for empanelment of Chartered Accountant firms as Concurrent Auditor for FY 2025-26 IDBI Bank has invited online applications from practicing Partnership firms of Chartered Accountants within India, in the prescribed format, who are willing to be empanelled as Concurrent Auditors of the IDBI Bank. The …