EOW cracked a major PAN India income tax refund scam being operated from Delhi NCR area. Economic Offences Wing, Bhubaneswar arrested accused Neeraj Singla (28 years age), a resident of Faridabad, Haryana, on 09.09.2022 in connection with EOW PS Case No.15 dt.27.08.2022 U/s 420/467/468/471/120-B IPC/ Sec.66 IT Act. The arrested accused was produced before the […]
Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 – Circular No. 18/2022-Income Tax
W.E.F. the 1st of APRIL 2023, the firms auditing the following types of entities shall be mandatory required to undertake an evaluation of their audit quality maturity using the Audit Quality Maturity Model Revised Version 1.0 (AQMM Rev v1.0). Centre For Audit Quality Directorate The Institute of Chartered Accountants of India 13th September, 2022 MANDATORY […]
The primary function of the Auditor in the present case was to ensure compliance with SAs to achieve the necessary audit quality to lend credibility to financial statements and facilitate its users. A critical, questioning attitude, an unwillingness to be satisfied by superficial explanations, not concluding on material matters without rigorous verification, diligent and methodical […]
Smt. Rakhi Singh Vs State of U.P (District Court of Varanasi) In Gyanvapi case court rejected the Muslim side’s petition and said the suit is maintainable. The next hearing of the case is on Sep 22. Court held that suit of the plaintiffs is not barred by the Uttar Pradesh Sri Kashi Vishwanath Temple Act, 1983, […]
Ekaksh Commerce Pvt Ltd Vs ITO (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order dated 27th April, 2022 under Section 148A(d) of the Income Tax Act, 1961, relating to assessment year 2018-19 on the ground that the same being without jurisdiction and contrary to the provision of Section 149(1)(a) and […]
Guidelines for filing/revising TRAN-1/TRAN-2 in terms of order of Supreme Court in the case of Union of India vs Filco Trade Centre Pvt. Ltd.
Supreme Court dismisses Anshul Jain’s SLP challenging the re-opening notice under Section 148A(d) of the Income Tax Act. High Court’s decision upheld
Ved Prakash Mittal Vs Union of India (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order under Section 148A(d) of the Income Tax Act, 1961 dated 29th July, 2022, relating to the assessment year 2014-2015 on the ground that the same being without jurisdiction and being barred by limitation since the […]
Bombay High Court stayed proceedings under Section 148 of Income Tax Act for AY 2014-15. Initial notice was issued after time limit expired
