Re-opening u/s 148 on incorrect facts assuming that assessee does not have PAN and he did not file any of his return quashed as invalid In a recent judgment, ITAT Delhi has held that AO had invoked jurisdiction for reopening assessment u/s 147/148 on basis of incorrect facts …

CENVAT Credit can not be denied on the ground that input was not liable to excise duty when the supplier wrongly paid the duty In a recent judgment, Bombay High Court has held that CENVAT Credit can not be denied on the ground that such input was not …

Banks to specify number of times a borrower may be allowed to switch over from floating interest rate loan to a fixed interest rate loan and vice versa – RBI issues FAQs RBI, vide Circular dated 18.08.2023, had issued guidelines for “Reset of Floating Interest Rate on Equated …

Aligarh Jila Sahkari Bank Ltd invites application for Concurrent Audit for FY 2024-25 Aligarh District Cooperative Bank Ltd. has invited application from Chartered Accountants Firms for Concurrent Audit for FY 2024-25 of its Head Office and 19 branches The application for empanelment is to be uploaded on Government …

Reasons assigned for explaining the condonation of delay are to be construed with a justice oriented approach – ITAT In a recent judgment, ITAT Chandigarh condoned the delay in filing appeal before CIT(A) due to mistake of counsel observing that Courts are unanimous in their approach to propound …

RBI allows resident exporter to maintain Foreign Currency Account with bank outside India Reserve Bank of India(Foreign Exchange Department)(Central Office) Notification  Mumbai, the 14th January, 2025 Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025 No. FEMA 10(R)(5)/2025-RB.—In exercise of the …