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Archive: 18 March 2024

Posts in 18 March 2024

Addition u/s. 68 unsustainable as AO failed to conduct independent enquiry to verify genuineness of transaction: ITAT Kolkata

March 18, 2024 1197 Views 0 comment Print

In Brightstar Vincom Pvt Ltd Vs ITO, Kolkata ITAT emphasizes independent inquiry by AO before adding under section 68 of IT Act.

Income Tax Offices throughout India Shall Remain Open on 29th-31st March 2024

March 18, 2024 5427 Views 0 comment Print

Government order mandates Income Tax Offices open on 29th, 30th, and 31st March 2024 to facilitate pending work. Details under section 119 of the Income-tax Act, 1961.

Deduction u/s. 80IB(10) admissible only when return is furnished within due date specified u/s 139(1): ITAT Ahmedabad

March 18, 2024 552 Views 0 comment Print

Learn about the DCIT vs Umang Hiralal Thakkar case at ITAT Ahmedabad regarding filing returns under section 139(1) for claiming deduction under section 80IB. Get detailed insights and analysis.

Revisional jurisdiction u/s 263 rightly invoked as order passed without satisfying mandatory provisions of section 92CA: ITAT Mumbai

March 18, 2024 7185 Views 0 comment Print

ITAT Mumbai held that assessment order passed without satisfying mandatory provisions of section 92CA and CBDT instruction no. 3 of 2016 is order falling within the meaning of erroneous and prejudicial to the interest of revenue. Hence, revisional jurisdiction u/s. 263 of the Income Tax Act rightly invoked.

Addition u/s 68 deleted as genuineness and creditworthiness of lender proved: ITAT Delhi

March 18, 2024 816 Views 0 comment Print

ITAT Delhi’s order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, citing submission of requisite documents.

Role of CMA & Cost Auditing in PM Narendra Modi’s Vision for India 2047

March 18, 2024 2271 Views 2 comments Print

Explore the role of Cost Management Accountants (CMAs) and the importance of cost audit and costing systems in achieving PM Narendra Modi’s vision for India in 2047.

Eligibility to become Research Analyst

March 18, 2024 3591 Views 1 comment Print

Discover the eligibility criteria for becoming a Research Analyst as per SEBI regulations, including qualification requirements and application procedures.

Madras HC allows conditional restoration of GST Registration

March 18, 2024 336 Views 0 comment Print

Madras High Court ruling states that once all pending GST returns are filed until the date of cancellation, the taxpayer’s GSTN can be restored.

Foreign Tax Credit (FTC): Importance, Concept and How to Claim FTC

March 18, 2024 3108 Views 0 comment Print

Understanding Foreign Tax Credit (FTC) in India: Learn its significance, rules, claiming procedure, case law insights, and steps to avoid double taxation effectively.

Form 15CA & 15CB – An Overview

March 18, 2024 2721 Views 0 comment Print

Gain insights into Form 15CA and 15CB, essential for cross-border transactions. Learn their significance, types, and procedures to ensure tax compliance in India.

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