Exemption from excise duty does not fall in the definition of income as envisaged under Section 2(24)(xviii) of the Income Tax Act. In a recent judgment, Hon’ble High Court of Jammu & Kashmir and Ladakh held that exemption from excise duty does not fall in the definition of …

Rent receivable towards properties inherited from grandparents under will does not represent revenue receipt In a recent judgment ITAT Cochin has quashed rectification order under section 154 making addition towards rent receivable towards properties inherited by assessee from grandparents under will. ABCAUS Case Law Citation:4511 (2025) (04) abcaus.in …

RFP invited for appointment of Secretarial Auditor of IREDA. Last date to apply is 25.04.2025 REDA invites bids/quotation from Peer Reviewed Company Secretary as defined under SEBI (Listing Obligations and Disclosure Requirement) Regulations, (“SEBI LODR”) (called Bidder) to conduct Secretarial Audit of the Company in line with the …

AO not being an expert of accounts, having regard to complexity of business of the assesse was duty bound to invoke & direct a special audit u/s 142(2A) of the Act.  In a recent judgment ITAT Panji has set aside assessment making ad hoc estimation of gross profits …

GSTN Advisory on reporting values in Table 3.2 of GSTR-3B GSTN has issued an advisory cum FAQs on reporting values in Table 3.2 of GSTR-3B from April 2025 tax period 1. Table 3.2 of Form GSTR-3B captures the inter-state supplies made to unregistered persons, composition taxpayers, and UIN …

Seller is not responsible for verification of Form 27C for obtaining goods without Collection of Tax at Source if it is duly filed in and signed by the declarant and forwarded within the prescribed time limit  In a recent judgment, the Hon’ble Jharkhand High Court has declined to …