Section 271J Penalty on CAs was challenged in Madras High Court. The Court had accepted the writ petition. However, the appeal was dismissed for non appearance of Petitioner In a recent judgment, Madras High Court dismissed the Writ Petition challenging Section 271J Penalty on CAs. The Court had …

CBDT issues revised FAQs on Direct Tax Vivad se Vishwas Scheme, 2024. Taxpayer eligible to apply for DTVSV Scheme, 2024 for appeal pending as on 22.7.2024 even if appeal has been disposed of on merits or dismissed as withdrawn CBDT has issued revised FAQ clarifying that taxpayer eligible …

More than 11 Lakh Women Directors are associated with Public & Private companies The Ministry of Corporate Affairs, with a view to encourage women participation in decision making at various levels in companies, has included the following provisions in the Companies Act, 2013: (i) Second proviso to sub-section …

CBDT launches Electronic Campaign to address income and transaction mismatches for FY 2023-24 and FY 2021-22 The Central Board of Direct Taxes (CBDT) has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the Annual Information Statement (AIS) and those …

Assessment order passed u/s 143(3) adopting the income computed by CPC u/s 143(1) does not mean that the challenge to CPC order passed u/s 143(1) will not survive. In a recent judgment, ITAT Delhi held that AO passing the assessment order u/s 143(3) adopting the assessed income as …

Passing order without waiting assessee’s compliances till the date it was allowed, goes against the principle of natural justice – ITAT In a recent judgment, ITAT Raipur has held that passing of an order without waiting for the assessee’s compliances till the date up to which it was …