Addition sustained for claiming accumulated depreciation in Profit and Loss Account instead of current year’s depreciation ABCAUS Neutral Case Law Citation:ABCAUS 3689 (2023) (03) ITAT Important Case Laws relied upon by parties: In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …

GSTN Advisory on HSN Code Reporting in e-Invoice on IRPs Portal As per the notification no. 78/2020 – Central Tax dated 15th October 2020. As per the above-said notification, it is now mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies …

GSTN Advisory for the taxpayer wishing to register as “One Person Company” in GST Portal As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the …

Reassessment on the wrong presumption that assessee not have PAN and is a non return filer held void ab initio as basic premise on which initiated has no legs to stand – ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3688 (2023) (03) ITAT Important Case Laws relied upon by …

Phenomenal LTCG in short period possible only through a colorable device – ITAT upheld taxing LTCG as income from undisclosed income ABCAUS Neutral Case Law Citation:ABCAUS 3687 (2023) (03) ITAT Important Case Laws relied upon by parties:Sanjay Bimalchand Jain vs. CITSurya Prakash Toshniwal (HUF) vs ITOCIT vs. Durga …

CBDT amends notification of Special Courts under Income Tax Act and Black Money Act for the State of Tamil Nadu  MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(Investigation Division-V) Notification No. 13/2023 New Delhi, the 14th March, 2023 S.O. 1223(E).—In exercise of the powers conferred by sub-section …