ITAT Delhi held that by mere putting a seal as approving statement is not sufficient for initiation of reassessment proceedings u/s 147. It proves that approving authority has granted the approval in mechanical manner without application of mind and hence initiation of reassessment proceedings invalid.
We are drawing your kind attention towards Proposed Amendment in Section 43B of The Income Tax Act, 1961, which is detrimental to MSME Sector.
As we all know that Statutory Bank Branch Audit is a one time task for a particular financial. Also we need to complete the bank audit within limited time so it’s an commendable job on all the chartered Accountants to complete the audit on time with quality reporting. Also you all are aware that government […]
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 16/2023-Customs (N.T.) | Dated : 18th March, 2023 G.S.R. 201(E).—In exercise of the powers conferred by clause (a) of sub-section (1) read with sub-section (2) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of […]
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