Promotions/Transfer and postings in the grade of PCIT/Principal Director of Income Tax CBDT has made 23 Promotions/transfer/postings in the grade of Principal Commissioner of Income Tax/Principal Director of Income Tax on account of promotion/additional charge/others. Promotion Cases: One case Other cases: Delhi: Three casesMumbai: One caseAhmedabad: One caseGwalior: …

High Court directs return of passports to directors accused of tax evasion u/s 276C, 277 of income Tax Act 1961 In a recent judgment, the Hon’ble High Court of Madras has directed return of passports to directors of company accused of offences u/s 276C for willful attempt to …

Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …

CBDT Extends Due Date for Filing Return of Income in the case of an assessee who is required to furnish a report referred to in section 92E, for AY 2024-25 The due date for furnishing the return of income u/s 139(1) of the Income-tax Act,1961 (the Act) in …

Claim for exemption u/s 10(10B) though not claimed in return, can be raised during proceedings before CIT(A) or the Tribunal. In a recent judgment, the ITAT Chandigarh has held that claim for exemption u/s 10(10B) for compensation received on forced retrenchmen, though not claimed in return, being a …

Highest bidder has no vested right to have tender awarded in his favour – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that it is a settled law that the highest bidder has no vested right to have the tender allotted in his favour. …