Before issuance of notice under Section 148 of the Act, approval of the higher authorities is a mandatory statutory requirement.
Assessee cannot include interest received on deposits as business receipts and estimate net profit under section 44AD on such interest income
Vivek Saxena Vs Ashish Verma, Chief Income Tax (Allahabad High court) The present contempt application has been filed under Section 12 of the Contempt of Courts Act for punishing the Opposite Party for willful disobedience of the judgment and order dated 01.12.2022 passed by this Court in Writ Petition No. 16848 of 2022. It is […]
No adjustment on account of a different assessable value adopted at Pipavav Port cannot be made in the refund amount as the import and clearance made at Pipavav Port is an independent clearance made by different Assessing Officers.
Assessee is an illiterate farmer and claims that he was not properly presented in assessment and appellate proceedings. Moreover, assessee claims that he was misguided by consultant
Government notifies that following transactions done by CA, CS & CMA on behalf of their client will be covered under Prevention of Money-laundering Act, 2002. This notification is issued by the Ministry of Finance, Department of Revenue in India, and it pertains to the Prevention of Money Laundering Act, 2002. The notification outlines that certain […]
Read about Ansal Properties vs ACIT (ITAT Delhi) case. Penalty not sustainable on QIP and 80-IB disallowance. Full text of ITAT Delhi order
LEI is a unique global identifier for legal entities participating in financial transactions. LEI is designed to create a global reference data system that uniquely identifies every legal entity, in any jurisdiction, that is party to a financial transaction.
The charge of under valuation cannot be established without challenging the assessment made by the assessing group as per the procedure prescribed. It is not the case where the goods where being cleared on the basis of the declared value but were being cleared on the basis of the assessed value on the payment of assessed duty.
Assessee tried to recover forfeited money and when all efforts to recover forfeited money went in vain the same been claimed as expenditure
