40 percent deduction for cash deposit in undisclosed bank account was very liberal as no details/evidences of expenses submitted by assessee says ITAT ABCAUS Case Law CitationABCAUS 3635 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in partly confirming …

Entrance fee received by Club capital receipt not revenue. Supreme Court dismissed SLP of the Income Tax Department ABCAUS Case Law Citation ABCAUS 3634 (2023) (01) SC Important Case Laws relied upon:CIT vs. Diners Business Services Pvt. Ltd 263 ITR 1 (Bom.) In the instant case. SLP was …

Addition for cash deposit upheld for absence of cash flow statement/cash book  ABCAUS Case Law CitationABCAUS 3633 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made on account of cash deposit in bank as cash credits …

Goods manufactured using advance modern/ technology not diversification i.e. different commercial activity – Supreme Court denies exemption u/s 4A of UP Trade Tax Act.  ABCAUS Case Law Citation ABCAUS 3632 (2023) (01) SC Important Case Laws relied upon:Commissioner of Sales Tax, Orissa and Anr. Vs. Jagannath Cotton Company …

  CBDT extends date for investment/construction/purchase claiming for capital gain exemption u/s 54 to 54GB .    F. No. 225/49/2021-ITA-IIGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ••••• Circular No. 1 of 2023 New Delhi, dated 06 January, 2023   Subject: Extension …

Customers can do KYC by submission of self-declaration through various non-face–to-face channels or fresh KYC remotely through V-CIP – RBI RBI has rationalised the KYC related instructions taking into account the available technological options for enhancing customers’ convenience within the framework prescribed under the Prevention of Money Laundering …