No addition can be made merely for time gap between withdrawals and redeposits into bank – ITAT In a recent judgment, Hon’ble ITAT Kolkata deleted addition for cash deposit in bank due to time gap between the withdrawals and redeposits into same bank without any findings of fact …

FAQs PAN 2.0 Project- Existing PAN card holders not required to apply for new PAN or change their PAN FAQs PAN 2.0 Project The Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s Permanent Account Number (PAN) 2.0 Project. This project aims to streamline and …

In cases of professional misconduct, the degree of proof beyond reasonable doubt do not apply – High Court held CA guilty of negligence in issuing two utilisation certificates.  In a recent judgment, Hon’ble Delhi High Court upholding the Chartered Accountant guilty of professional misconduct held that in cases …

If Society has both charitable and religious objects, registration u/s 12AA can not be denied by invoking provisions of section 13(1)(b) – High Court  In a recent judgment, Hon’ble Chhattisgarh High Court upheld the order of the ITAT that when the Society has both charitable as well as …

Due to national holiday, deposit of PF on next working date is in due compliance with the provisions of section 36(1)(va) of the Income Tax Act, 1961 – ITAT  In a recent judgment, ITAT Chandigarh has held that the due date being the national holiday, the deposit of …

Increase in Common Adjudicating Authority for notices issued by the officers of Directorate General of Goods and Services Tax Intelligence CBIC vide Notification No. 02/2022-Central Tax dated 11.03.2022 had amended the principal Notification No. 02/2017-Central Tax dated the 19th June, 2017 to insert Table V to vest the …