ITAT Delhi held that penalty u/s 271D of the Income Tax Act is without any satisfaction and, therefore, no such penalty can be levied. Accordingly, penalty u/s 271D quashed.
In the realm of income tax proceedings, the show cause notice plays a vital role in preserving procedural fairness. This article delves into the importance of the show cause notice, addressing key questions surrounding its necessity and implications in the context of the Income Tax Act.
Addition on account of unexplained investments under section 69 could not be made as whatever deposits were made were either out of the past savings or from the loans taken from relatives.
Karnataka High Court held that exemption certificate from the Commissioner of Tourism, Government of Kerala exempting payment of sales tax is valid for 7 years and could not have been rescinded before the period of eligibility expired as it is sovereign assurance.
ICAI has announced postponement of Advanced ICITSS – Adv. IT Test. Get revised important dates and eligibility criteria for test in computer-based mode. Find all details and guidance notes on official ICAI website.
Explore the guidelines for issuing summons under Section 70 of the Karnataka Goods and Services Tax Act. Understand obligations rights, and key provisions.
Discover the 2023 search and seizure procedure under the Karnataka Goods and Services Tax Act. Learn about the SOP, conditions, and post-search steps
Get the latest schedule and important announcements regarding the CA Intermediate, Final, and Foundation Examinations to be held in November 2023 and December 2023. Stay informed about the dates, examination centers, and duration of each exam.
Gain insights into the provisions of the Companies Act, 2013 regarding rights issues and the issue of Compulsorily Convertible Debentures (CCDs). Learn about the regulations governing share issuance to existing shareholders, conditions for CCD issuance, and the implications of these provisions.
Learn about the filing of FLA return by corporate entities with RBI to report Balance of Payment (BoP) positions. This article provides guidelines and clarifications on filing the FLA return, penalties for non-compliance, filing based on unaudited financial statements, and more.
