Observation of CIT(A) that AO is empowered to reopen the assessment u/s 147/148 can not be said to be illegal – ITAT In a recent judgment, the ITAT Delhi has held that observation of CIT(A) that Assessing Officer (AO) is empowered to reopen the assessment under section 147/148 …

Best judgement assessment u/s 144 cannot under any means be held to be erroneous u/s 263 for lack of enquiry- ITAT In a recent judgment, the ITAT Nagpur has held that best judgement assessment under section 144 of the Act, cannot under any means be held to be …

Effective dates announced for provisions of Central Goods and Services Tax (Amendment) Rules, 2024 GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS Notification No. 09/2025–Central Tax New Delhi, the 11th February, 2025. G.S.R…(E).—In exercise of the powers conferred by section 164 of the …

Bank of Maharashtra Concurrent Audit online empanelment FY 2025-26 BANK OF MAHARASHTRA has invited applications from practicing firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empaneled as Concurrent Auditors/Revenue Auditors of the Bank for specified branches for FY 2025-26. Link …

Penalty u/s 271AAA(1) not leviable on undisclosed income offered during assessment proceedings and not during search – Supreme Court.  In a recent judgment, the Hon’ble Supreme Court held that penalty u/s 271AAA(1) was not leviable when assessee offered undisclosed income during the course of assessment proceedings only and …

Claim of exemption u/s 10(26) for Tribal Person remanded when by ignorance PAN was wrongly applied in the name of Partnership Firm.  In a recent judgment, ITAT Guwahati remitted the issue claim for exemption u/s 10(26) for Tribal Person when by ignorance PAN was wrongly applied in the …