Unless proved that AO used power u/s 142(2A) with mala fide intention, the writ court not to interfere – High Court  In a recent judgment, the Hon’ble Jharkhand High Court has held that unless it is demonstrated by producing materials to the satisfaction of the Court that the …

Senior Citizens Welfare Fund to bear 7.15% interest wef 01.04.2023 to 31.03.2024 MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATION New Delhi, the 10th June, 2024 F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of …

Suggestions invited from the Industry and Trade Associations for Budget 2024-25 In the context of formulating the proposals for the Union Budget of 2024-25, the Ministry of Finance has invited suggestions and views from public. Suggestions may be send for changes in the duty structure, rates and broadening …

Notice under Section 148(A)(b) was defective as the assessee was dead earlier to its issuance – Karnataka High Court. In a recent judgment, the Hon’ble Karnataka High Court has held that notice under Section 148(A)(b) was defective on the ground that the assessee was dead earlier to it …

Onus to prove source of source of a loan/borrowing mandatory from AY 2023-24 In a recent judgment, ITAT Raipur has held that under section 68, onus to prove source of source of a loan or borrowing is mandatory w.e.f. 01.04.2023 i.e. from A.Y 2023-24 ABCAUS Case Law Citation:ABCAUS …

Notice u/s 148A(b) giving less than seven days time to submit response quashed In a recent judgment, the Hon’ble High Court of Karnataka has set aside show cause notice u/s 148A(b) giving less than seven days’ time to submit response ABCAUS Case Law Citation:ABCAUS 4085 (2024) (06) HC …