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CBDT issues Additional Guidelines For TDS under section 194R

September 13, 2022 57768 Views 1 comment Print

Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 – Circular No. 18/2022-Income Tax

Auditing Firms mandatory AQMM requirement W.E.F. 1st of APRIL 2023

September 13, 2022 2544 Views 0 comment Print

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 […]

CA Banned for 3 years by NFRA and imposes penalty for lapses in Audit

September 13, 2022 80013 Views 0 comment Print

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 […]

Gyanvapi case: Plea for Worship Maintainable – Varanasi Court

September 13, 2022 1125 Views 0 comment Print

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, […]

Sec 148A(d) order quashed for AY 2018-2019 as reassessment proceedings initiated after 3 years

September 10, 2022 2316 Views 0 comment Print

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 as per SC order

September 9, 2022 27429 Views 0 comment Print

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.

SC dismisses SLP of assessee challenging Section 148A(d) order

September 8, 2022 13311 Views 0 comment Print

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

Calcutta HC quashes Section 148A(d) order for AY 2014-2015

August 30, 2022 3597 Views 0 comment Print

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 HC stayed Section 148 proceedings for AY 2014-15

August 27, 2022 12816 Views 2 comments Print

Bombay High Court stayed proceedings under Section 148 of Income Tax Act for AY 2014-15. Initial notice was issued after time limit expired

Calcutta High court stays reassessment proceedings on ground of time barred

August 25, 2022 9534 Views 0 comment Print

SS Commotrade Private Limited Vs ITO (Calcutta High court) By this writ petition, petitioner has challenged the impugned order dated 30th July, 2022 under Section 148A(d) of the Income Tax Act, 1961 relating to assessment year 2014-15, and, all subsequent proceedings based on the impugned notice dated 29th June, 2021 under Section 148 of the […]

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