Akola Janta Commercial Co-Op Bank Ltd. Vs ACIT (ITAT Nagpur) A plain reading of Section 263 makes it clear that, the precondition to exercise revisionary jurisdiction by the PCIT/CIT suo moto under it, is that the order of AO is erroneous insofar as it is prejudicial to the interests of the revenue is concern. Consequently, […]
Learn about the updated income tax form ITR-U and how it can help correct errors, reduce losses, and claim tax credits.
Vetrivel Explosives Pvt. Ltd. Vs Union of India (Madras High Court) Judgement The Madras High Court has held that credit which remained unutilized on the date of accident in the regular returns filed by the Petitioner, shall be allowed to the Petitioner either by way of suitable credit entry in the electronic cash register of […]
Discover the FAQs on e-invoice/IRN system under GST. Get answers to common questions about e-invoicing and its differences from normal invoices.
Learn about a landmark decision holding the bank responsible for locker theft. Discover the compensation paid to victims and RBIs instructions on safe deposit lockers.
Understanding Canadian taxation and the role of foreign income. Learn about the importance of filing Form T 1135 E to avoid penalties.
Uncover the implications of the recent Gujarat High Court ruling on the deduction towards the value of land under GST.
Landmark Supreme Court judgment on section 148 notices in favor of both Assessee and Revenue. Key takeaways for taxpayers and Income Tax Department.
Get up to speed on the key changes to the Companies Act, 2013. Explore amendments, definitions, CSR provisions, and more.
On the Anti-Evasion side, on the basis of a specific input from the National Customs Targeting Centre, officers of Delhi Customs Preventive Commissionerate intercepted a consignment declared as Photocopy Paper at ICD Palwal, Haryana. Examination of the consignment revealed that except the front row, the consignment contained more than 79,00,000 cigarettes having an approximate value in excess of Rs. 15 Crore. Kudos to the officers for a fantastic detection.
