Before ITAT it was submitted that AO determined the total income/revised income as Rs.12,84,93,150/-. Thus the assessed income is lesser than the returned income of Rs.13.30 crores.
Supreme Court affirms that supplying food to airlines is a sale of goods, not outdoor catering, clarifying service tax applicability. Appeal dismissed due to delay.
Assessee has not violated the provision of the Act u/s 271B as the assessee has Audited his accounts as per the provisions of section 44AB within the stipulated time but only filed the same belatedly.
Learn to calculate home loan EMIs with this step-by-step guide. Understand loan amount, interest rates, tenure, tax benefits, and additional costs for better planning.
Case was reopened after recording proper reason. Assessment was completed u/s.147 r.w.s. 144B of the Act on 25.03.2022, wherein addition of Rs.1 Crore was made in respect of unexplained investment in the immovable property.
Key updates on Income Tax, GST, SEBI, RBI, and legal matters for the week ending 5th Jan 2025. Important notifications, circulars, and judicial decisions.
Bombay HC clarifies that one instance of following a girl does not constitute stalking, as evidenced in the case of Amit vs. State of Maharashtra.
ITAT Delhi rules only actual income from bogus sales/purchases can be taxed. Disallows additions exceeding declared income. Key insights into tax assessment process.
Updates to UDIN portal include a shift from alphanumeric to numeric data type for figures across Certificates, GST & Tax Audit, and Audit & Assurance categories.
The Telangana High Court addressed jurisdiction and employment status in Godrej Agrovet Ltd. Vs Presiding Officer. Key aspects of industrial disputes analyzed.
