RBI cautions public against Prepaid Payment Instruments (non-closed) issued by sRide through its car-pooling app  RBI in its latest advisory has cautioned public of the risk in dealing with sRide car-pooling app.  RBI cautions public against sRide app The RBI has observed that sRide Tech Private Limited, a …

Reassessment proceedings without sending Inspector to serve notice personally or by affixture where notice served by speed post was returned by Postal Authorities ABCAUS Case Law CitationABCAUS 3583 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …

GST Refund Help Desk with Toll Free Helpline Number set up by CBIC Setup of ‘GST Refund Help Desk’ in the office of Pr. CCA, CBIC The office of Pr. CCA, CBIC has setup a ‘GST Refund Help Desk’ for addressing payment related problems faced by the taxpayers. …

New definition of MSMEs – Existing EM & UAMs obtained till 30.06.2020 to be valid till 31.03.2022 RBI in August 2020 has notified new definition of Micro, Small and Medium Enterprises. Later, the Government clarified that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) …

Supreme Court uphold quashing of reassessment notice issued beyond four years without failure of assessee to disclose fully & truly all material facts In a recent order, the Hon’ble Supreme Court has upheld the order of the High Court in quashing the reassessment notice issued beyond the period …

Debit entries should also be considered for cash credit entries u/s 68. Credit entries cannot be looked into isolation ignoring debit entries. ABCAUS Case Law CitationABCAUS 3581 (2022) (02) ITAT Important case law relied referred:CIT Vs. Rohini builders 256 ITR 36 In the instant case, the assessee had …