Bombay High Court dismisses the appeal, affirming the Tribunal’s ruling on treating purchases as bogus and upholding the addition of 12.5% profit element.
ITAT Hyderabad directs reexamination of TDS linkage, offering Country Club Hospitality & Holidays Limited a chance to avoid interest liabilities in a landmark ruling.
ITAT Mumbai held that as no claim of the amount of exempted allowance was made in the return of income, the same cannot be rectified as there was no mistake apparent from record in order passed u/s 143(1)(a) of the Income Tax Act.
ITAT Amritsar held that corpus donation received by trust not holding the registration u/s 12AA is not taxable provided the same is verified. Accordingly, matter remitted back to AO for verification of corpus donation.
ITAT Amritsar held that in absence of cogent and satisfactory explanation, delay of 781 days in filing of an appeal cannot be condoned. Accordingly, condonation of delay not granted.
ITAT Mumbai held that addition under section 68 of the Income Tax Act unsustainable in absence of any incriminating material found during the course of search.
What are the parameters and points which is required to consider before filing a GST return to reduce the chances of GST notice from the department? An indicative list of parameters for GST scrutiny as per SOP provided by the GSTIN in Annexure B 1. Difference of Output Tax supply in GSTR 3B and GSTR1: […]
ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015.
Regulation of Virtual Digital Assets in India: Additional Obligations on Service Providers under the purview of PMLA Introduction Cryptocurrencies or virtual currencies are virtual digital assets (VDAs) that exist only in a virtual form and use a technology called blockchain[1]. There is no sector-specific regulatory framework for virtual currencies. To define VDAs, Government introduced new […]
ITAT Mumbai held that effluent water treatment shall be considered as water treatment plant and accordingly, the same is eligible for deduction under section 80IA of the Income Tax Act.
