Penalty u/s 271B deleted where accountant handling accounts suddenly left the job but assessee furnished audit report before completion of assessment. ABCAUS Case Law Citation:ABCAUS 3768 (2023) (06) ITAT In the instant case, the assessee had challenged the order passed by the The National Faceless Appeal Centre (NFAC)/ …

Addition for unexplained cash deleted as assessee consistently declared tuition income and paid tax over 20 -25 years ABCAUS Case Law Citation:ABCAUS 3767 (2023) (06) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made by the Assessing Officer …

Merely because assessee did not filed appeal against addition it cannot be a ground for imposing penalty – ITAT ABCAUS Case Law Citation:ABCAUS 3766 (2023) (06) ITAT Important Case Laws relied upon:Rajiv Kumar Garg vs. ITOCIT vs. Aero Traders (P) Ltd.Harigopal Singh vs. CIT (2002) 258 ITR 85 …

GST E-Invoice QR Code Verifier App by GSTN The E-Invoice Verifier App developed by GSTN, has been introduced which offers a convenient solution for verifying e-Invoices and other related details. GSTN understands the importance of efficient and accurate e-invoice verification, and this app aims to simplify the process …

Estimating higher gross profit rate without rejecting books of account or pointing out any defects or discrepancies in the audited books of accounts not permissible ABCAUS Case Law Citation:ABCAUS 3765 (2023) (06) ITAT In the instant case, the Revenue had challenged the order passed by the CIT(A) in …

Pension fund 2743298 Ontario Limited notified for exemption u/s 10(23FE) of Income Tax Act   MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No.36/2023   New Delhi, the 7th June, 2023   (INCOME-TAX)   S.O. 2501(E).—In exercise of the powers conferred by sub-clause (iv) of clause …