Reasons to believe escapement of income should be for the same assessment Year. Reasons recorded for earlier years can not be the basis – ITAT In a recent judgment, the ITAT has held that reasons to believe escapement of income u/s 148 should be for the very assessment …
Cash deposits by CA stated to be trading income added as unexplained income u/s 68 as ICAI does not allow CAs to do any business activity ABCAUS Case Law CitationABCAUS 3574 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
Clarification regarding applicability of Social Welfare Surcharge on goods exempted from basic and other customs duties/cesses Circular No. 3/2022-Customs F. No. CBIC-190354/262/2021-TRU Section-CBEC Government of India Ministry of Finance Department of Revenue (Tax Research Unit)***** Room No. 156, North Block New Delhi, dated the 1st …
Anuradha Guru, Economic Adviser, Ministry of Corporate Affairs appointed as ex-officio member in the Insolvency and Bankruptcy Board of India to represent the Ministry MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 28th January, 2022 S.O. 408(E).—In exercise of the powers conferred by clause (b) of sub-section (1) …
Penalty for passing on unreasonable benefits to trustee or specified persons of charitable Institutions – New Section 271AAE introduced by Union Budget 2022-23 Under section 13 of the Act, trusts/charitable institutions are required not to pass on any unreasonable benefit to the trustee or any other specified person. …
Provisions for filing of updated income tax return for time barred returns on payment of additional fee – Union Budget 2022-23 Section 139 of the Income Tax Act 1961 contains due dates for filing of Income Tax Return by various categories of taxpayers. However, presently a taxpayer …
