Suggestions invited from the Industry and Trade Associations for Budget 2024-25 In the context of formulating the proposals for the Union Budget of 2024-25, the Ministry of Finance has invited suggestions and views from public. Suggestions may be send for changes in the duty structure, rates and broadening …
Notice under Section 148(A)(b) was defective as the assessee was dead earlier to its issuance – Karnataka High Court. In a recent judgment, the Hon’ble Karnataka High Court has held that notice under Section 148(A)(b) was defective on the ground that the assessee was dead earlier to it …
Indian Overseas Bank Concurrent Audit Empanelment for the financial year 2024-25 (from 01.07.2024 to 30.06.2025) TERMS & CONDITIONS IOB Concurrent Audit Empanelment The following basic criteria will be adhered to in selection of audit firms for conducting concurrent audit. Submit Application for Empanelment Click Here >> Only …
Onus to prove source of source of a loan/borrowing mandatory from AY 2023-24 In a recent judgment, ITAT Raipur has held that under section 68, onus to prove source of source of a loan or borrowing is mandatory w.e.f. 01.04.2023 i.e. from A.Y 2023-24 ABCAUS Case Law Citation:ABCAUS …
Notice u/s 148A(b) giving less than seven days time to submit response quashed In a recent judgment, the Hon’ble High Court of Karnataka has set aside show cause notice u/s 148A(b) giving less than seven days’ time to submit response ABCAUS Case Law Citation:ABCAUS 4085 (2024) (06) HC …
Deduction u/s 54F allowed for residential house purchased in the name of wife – ITAT In a recent judgment, the ITAT Chennai has allowed Deduction u/s 54F for residential house purchased in the name of wife holding that assessee and his wife would have commonality of interest to …