Penalty u/s 270A can not be levied for only making a claim which was disallowed. Filing of Form No. 68 for claiming immunity u/s 270AA is only procedural and directory – ITAT In a recent judgment, ITAT Agra deleted penalty u/s 270A holding that no penalty u/s 270A …
District Co-operative Central Bank Ltd. Srikakulam invites application for empanelment of Concurrent Auditor for Financial Year 2025-26 The District Co-operative Central Bank Ltd. Srikakulam has invited application from eligible Chartered Accountant Firms for empanelment as Concurrent Auditor for conducting concurrent audit / Internal audit in the branches/Head Office …
CBDT issues clarification on Circular No. 01/2025 On Application of PPT under India’s DTAAs CBDT has issued Circular No. 01/2025 dated 21.01.2025 as a guidance to provide clarity and certainty on the application of the Principal Purpose Test (PPT) provision under India’s Double Taxation Avoidance Agreements (DTAAs). It …
Levy of penalty u/s 271(1)(b) for each default in not responding to notices issued u/s 142(1) of the Act was not justified – ITAT In a recent judgment, ITAT Pune deleted penalty u/s 271(1)(b) holding that levy of penalty for each default in not responding to the notices …
Refund of advance amount on cancellation of agreement for purchase of property does not partake the character of loan or deposit or any specified sum as provided u/s 269SS – ITAT In a recent judgment, ITAT Hyderabad deleted penalty u/s 271D holding that refund of advance amount on …
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 …
