Enhancements to Address-Related Fields in GST Registration Functionalities GSTN has made the following enhancements to address-related fields in the registration functionalities: New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These enhancements are based on the analysis of tickets and user feedback. The details are as …

Month wise receipt and income slightly more than last year cannot warrant the cash deposited into the bank account as unexplained cash In a recent judgment, ITAT Jaipur has held that month wise receipt and income slightly more than last year cannot warrant the cash deposited into the …

Assessee can maintain two ledger accounts of same person one under the head sundry debtor and another under sundry creditor – ITAT In a recent judgment, ITAT Kolkata has deleted addition u/s 68 for bogus creditors as the assessee maintained two accounts of same person, one under the …

SEBI provides specific timelines for dealing with appeals made by the issuer in respect of rating actions carried out pursuant to periodic surveillance of ratings. SBI has provided specific timelines for disposal and communication of appeals by CRAs against credit rating done in periodic surveillance. SEBI’s Master Circular dated …

There is no statutory obligation upon legal heirs to intimate death of assessee to the Income Tax Department In a recent judgment, Hon’ble High Court Karnataka held that there is no statutory obligation upon legal heirs to intimate death of assessee to the Income Tax Department. ABCAUS Case …

Once Tonnage Tax Scheme is opted, no set off against any deduction allowed – ITAT  In a recent judgment, ITAT Hyderabad has held that once the assessee opts for a Tonnage Tax Scheme, then Tonnage income cannot be set off against any deduction provided under the Act. ABCAUS …