Shri Palanisamy Chinnasamy Vs ITO (ITAT Chennai) In this case, The assessment was completed under section 144 r.w.s. 144(1)(b) of the Act by making addition of ₹.5,34,000/- under section 69A of the Act on the ground that the money received from the customers on various dates in old notes cannot be accepted a genuine as […]
Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable. If the Audit Report was available with the assessee at the time of filing of Return of Income and was not filed due to bonafide reasons the benefit of exemption under section 11 cannot be denied if otherwise assessee is eligible to claim the same.
Bodycare Creations Limited Vs DCIT (ITAT Delhi) ITAT find that the assessee has successfully demonstrated that the return of income filed by it has been subjected to provisions of Section 92E of the Act and consequently the due date available to the assessee is 30th November, 2017 relevant to Assessment Year 2017-18 in question in […]
Excise and Taxation Department Vs Allied Strips Ltd. & Anr. (NCLAT) This case has been called out after a pass over but no one has put in appearance on behalf of the Appellant. It seems that the Appellant is not interested in pursuing this appeal though a claim has been set up of an amount […]
Stay updated with the latest amendment in the independent auditors report for FY 2021-22. Learn about the enhanced disclosures and increased reliability in audit reports.
Learn about the Supreme Court’s decision regarding TRAN-1 and how it provides a one-time opportunity for claiming transitional credit under the GST framework.
The 47th GST Council meeting held on 28th –29th June 2022 has discussed the reports tabled by various GoMs on GST rate rationalisation, fixation of GST rate on online gaming, and IT reforms.
CDA as a waterproofing material used in any civil structure involving cement/concrete in HIPs, such as expressways, dams, hydro or thermal power projects, etc.
Held that action of Designated Committee by first deducting the amount of deposit made by petitioners during enquiry, investigation or audit and, thereafter, extending relief to the petitioners by computing the amount of tax due on the outstanding amount, is not as per the mandate of the Scheme.
