TDS can’t be denied where assessee offered income from NHAI contracts in earlier years but TDS had been deducted in subsequent assessment years In a recent judgment, ITAT Delhi has held that TDS cant be denied in a situation wherein, the assessee had offered income from NHAI contracts …

ICAI issues two new Standard on Quality Management SQM 1 and SQM2 The Institute of Chartered Accountants of India (ICAI) has issued two new Standard on Quality Management (SQM) as under: S. No. Standards Effective Date 1. SQM 1, Quality Management for Firms that Perform Audits or Reviews …

CBDT transfers five officers in the grade of Chief Commissioner of Income Tax. CBDT by order dated 10.10.2024 has transferred five officers in the grade of CCIT with immediate effect. The relieving and joining is mandatorily and to be approved by concerned PrCCIT(CCA). Civil Code Name From (Station …

Due date for filing audit report Form 10B/10BB for AY 2024-25 extended to 10.11.2024 CBDT by order u/s 119 has extended the due date for for filing audit report in Form No. 10B/10BB for AY 2024-25 to 10.11.2024 Sub: Order under section 119 of the Income-tax Act, 1961-reg. Central …

Procedure is handmaid of justice – ITAT deleted addition made as a consequence of filing wrong ITR by assessee. In a recent judgment, ITAT Chandigarh has held that procedure is handmaid of justice. Assessee cannot be said to gain anything by filing a wrong ITR intentionally, knowing that …

CBDT scrutiny guidelines are only for compulsory selection and does not preclude random selection for scrutiny by the Assessing Officers. In a recent judgment, Hon’ble Patna High Court has held that CBDT guidelines are only for compulsory selection of returns for scrutiny and it does not preclude random …