Cash surrendered during survey not covered by deeming provisions of section 69 and 69A – ITAT In a recent judgment, ITAT Amritsar has held that excess cash found and surrendered during survey was not covered by deeming provisions of section 69 and 69A hence not taxable at higher …

NABARD invites applications from CA/CS/ICWA for the post of Assistant Manager in Grade-A. Last date to apply is 15.08.2024 Applications are invited from Indian citizens for the post of Assistant Manager in Grade ‘A’ in the Rural Development Banking Service (RDBS) /(Rajbhasha) Service in National Bank for Agriculture …

Extrapolation of income of two months to arrive at income of the full year was not justified – ITAT In a recent judgment, ITAT Chandigarh has deleted the addition to income holding that extrapolation of income of two months adopted by the AO for arriving at income of …

Penalty u/s 272A(2)(c) for not furnishing information to notice u/s 133(6) deleted In a recent judgment, ITAT Lucknow has deleted Penalty u/s 272A(2)(c) imposed on Sub-registrar for not furnishing information of properties registered in response to notice u/s 133(6) of the Income Tax Act, 1961. ABCAUS Case Law …

Income Tax Department appreciates taxpayers & tax professionals for timely compliance, resulting in a record surge in the filing of Income Tax Returns (ITRs). According to the Press Release issued by the Income Tax Department, the taxpayers and tax professionals made their compliances in time, leading to a …

ITAT allowed loss suffered by gold/ornament robbery carried forward from previous year  In a recent judgment, ITAT Rajkot allowed loss suffered by gold ornaments robbery which was carried forward as opening stock from preceding year in hope of recovery by police. ABCAUS Case Law Citation:4185 (2024) (08) abcaus.in …