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. …

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 …