TDS u/s 194IC is applicable for payment under JDA to transferor of land and building holding leasehold rights and not ownership. In a recent judgment, ITAT Mumbai has held that it would be against the intent of the legislation to interpret that provisions of TDS under section 194IC …

When the provisions of Section 69A are invoked burden of proof lies on the AO to establish source of unexplained money In a recent judgment, ITAT Delhi has held that settled law is that where the AO invoked the provisions of Section 69A of the Income Tax Act, …

When order u/s 263 is quashed, assessment order passed u/s 143(3) r.w.s. 263 has no legs to stand In a recent judgment, ITAT Agra has held that when order u/s 263 of the Act is quashed, assessment order passed u/s 143(3) r.w.s. 263 has no legs to stand …

When assessee offered income on accrual basis over the years, claim of TDS deducted on maturity of bond can not be disallowed – ITAT In a recent judgment, ITAT Agra has held that when assessee had offered interest income on RBI Bonds on accrual basis over the years, …

CBI arrests Superintendent and Inspector of CGST for demanding bribe for GST registration  The Central Bureau of Investigation (CBI) has arrested Superintendent and Inspector of the Central Goods and Services Tax (CGST), Santacruz Division, Mumbai for demanding and accepting a bribe of ₹25,000/- from the complainant. As per …

SEBI rationalizes and standardizes the penalty framework for levying penalties on stock brokers by stock exchanges. In the current penalty framework for stock brokers, penalties for similar observations may differ across stock exchanges, and in some cases, the stock brokers who have membership with multiple exchanges may face …