ITAT Delhi held that assessment framed u/s. 147 invalid due to non-issuance of notice u/s. 143(2) of the Income Tax Act against return filed in response to notice u/s 148. Accordingly, appeal of the assessee allowed.
Madras High Court expresses concern over CBI’s biased investigations and declining public trust in a recent bank fraud case judgment. Directives issued to restore faith.
ITAT Agra deletes penalty on State Bank of India for short TDS on LFC with foreign leg, citing bona fide belief and Supreme Court ruling on penalty.
NPS Trust invites bids from empanelled CA Firms to audit benefit payments under the Unified Pension Scheme. Bids close on May 2, 2025.
Provisional direct tax data for FY 2024-25. Net collections reach ₹22,26,231 crore, a 13.57% increase. Corporate, non-corporate tax, and STT details included.
SEBI proposes a framework for the orderly winding down of KYC Registration Agencies (KRAs) to ensure service continuity and data protection. Public feedback invited.
Apply for empanelment as Concurrent Auditors at Karnataka Apex Bank. Partnership CA firms with banking audit experience are invited. Submit by providing detailed credentials.
State Bank of India seeks applications from experienced CAs/Cost Accountants for Stock & Receivable Auditor empanelment. Apply by 15th May 2025.
Gujarat High Court Upholds Tax Reopening on Suspected Bogus Share Capital; Fresh Information on Shell Companies Justifies Scrutiny Despite Prior Assessment; Reopening Based on Investigation Report Validated
Chhattisgarh High Court quashes reassessment under Section 148 of Income Tax Act, citing lack of reasonable opportunity and violation of natural justice.
