No penalty can be levied if AO failed to record such satisfaction in assessment order. Penalty proceedings would necessarily be initiated in the quantum assessment order itself. In a recent judgment, ITAT has deleted income tax penalty u/s 271D and 271E holding that no penalty can be levied …

There is no presumption that people having low income cannot have small saving In a recent judgment, ITAT has deleted addition u/s 69 towards cash deposit in bank holding that here is no presumption that the people having low income cannot have small savings. ABCAUS Case Law Citation:ABCAUS …

Addition u/s 40A(3) deleted- CBDT can not impose new condition for grant of benefit which are not provided in Act or Rules – ITAT In a recent judgment, ITAT has deleted addition u/s 40A(3) towards cash purchases observing that Income Tax authorities can’t imposed new condition for grant …

GST Registration may take 30 days in some Aadhaar authentication cases for detailed verification based on risk profile- GSTN Advisory Under Rule 9 of Central Goods and Services Tax Rules, 2017, the application in Form REG-01 for registration under GST shall be forwarded to the proper officer who shall …

Assessee mislead by claiming deduction for Bad debts written off when in fact at the same time it treated the same as liabilities under the head ‘provisions’ in the balance sheet. In a recent judgment, Hon’ble High Court has dismissed a Writ Petition challenging the notice u/s 148 …

Prosecution u/s 276B rws 278AA quashed by High Court as delay in depositing TDS was due to maternity leave of the staff and subsequent conduct of the assessee In a recent judgment, Hon’ble High Court has quashed the prosecution u/s 276B / 278AA launched by the Income Tax …