ITAT Jaipur held that assessee just needs to establish that the amount has come from the bank account of the cash-creditors. Assessee is not required to prove the source of the amount in the bank accounts of the cash creditors. Thus, addition u/s. 68 deleted since genuineness of transaction proved.
BSE issues notice on issuer contributions to Core SGF of AMC Repo Clearing Ltd. Check eligibility, collateral rules, and compliance details.
ITAT Kolkata held that issuance of notice under section 143(2) of the Income Tax Act by non-jurisdictional Assessing Officer renders assessment bad-in-law. Thus, assessment order is bad-in-law and hence liable to be quashed.
Gujarat High Court held that refund entitled to assessee on the basis of order passed by CIT(A) cannot be unjustifiably adjusted against subsequent year’s demand. Accordingly, AO directed to credit refund amount in bank account of the petitioner.
EPFO announces a 60-day Productivity Linked Bonus for eligible employees for FY 2023-24, with a maximum payout of ₹13,816, effective March 27, 2025.
ICAI modifies the jurisdiction of its Ratlam and Pali branches under CIRC, adding new areas to Ratlam and detaching Sumerpur from Pali, effective January 8, 2025.
New GST circular clarifies payment via GSTR-3B for Section 128A benefits, and appeal withdrawals for mixed period demands.
CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to firm partners.
Learn about Input Service Distributor (ISD) in GST, its implementation, practical procedures, benefits, drawbacks, and compliance challenges.
Key GST issues faced by taxpayers, including registration delays, documentation challenges, appeal backlogs, and the need for policy clarity in the GST regime.
