Grievance for not condoning delay for filling Form No. 10B cannot be addressed by way of appeal before ITAT In a recent judgment, the ITAT has held that it can not entertain an appeal challenging the rejection of condonation of delay in filing audit report in Form No. …
Interest received u/s 28 of Land Acquisition Act on enhanced compensation exempt from tax – ITAT In a recent judgment, ITAT has held that AO was correct in holding that interest received u/s 28 of Land Acquisition Act on enhanced compensation exempt from tax following decision of the …
Seizure of goods for want of e-way bill when due to break down, goods loaded on another vehicle. Burden of proof falls squarely on tax authorities to demonstrate genuine intent to evade tax before penalizing- High Court quashes penalty imposed ABCAUS Case Law Citation:ABCAUS 3849 (2024) (01) HC …
Turnover in respect of speculation business is only net difference of independent transactions In a recent judgment, ITAT has held that turnover in respect of derivative trading is to be reckoned as only which may be positive or negative difference for independent transactions. ABCAUS Case Law Citation:ABCAUS 3847 …
Return filed without balance sheet & profit and loss account may be defective but not invalid – Supreme Court quashes assessment made on the basis of balance sheet submitted to bank. ABCAUS Case Law Citation:ABCAUS 3846 (2024) (01) SC Important Case Laws relied upon by parties:M/s Phool Chand …
CBDT issues circular explaining the provisions of the finance act, 2023 CBDT has issued Circular No. 1/2024 dated 23rd January 2024 giving explanatory Notes to the Provisions of the Finance Act, 2023. The Finance Act, 2023 was passed by the Parliament, received the assent of the President on …
