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CA Lalit Munoyat

Latest Articles


Audit Requirements & Criterion for Business & Profession (Section 44AB) Assessment Year 2024-24

Income Tax : Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including...

June 7, 2024 41217 Views 0 comment Print

PMLA with particular reference to Arvind Kejriwal and Aam Aadmi Party (AAP)

Corporate Law : Explore the Prevention of Money Laundering Act (PMLA) in India, ED powers, and significant Supreme Court rulings impacting anti-mo...

May 31, 2024 2844 Views 0 comment Print

Rules of Inheritance of Coparcenary Property

Corporate Law : Understand the Hindu Succession Act's rules of inheritance for coparcenary property, including amendments for daughters' rights. L...

April 30, 2024 3327 Views 0 comment Print

Revamping SME Growth: An Overview of New Manufacturing Norms In India

Corporate Law : Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thre...

April 4, 2024 462 Views 0 comment Print

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

Income Tax : Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legi...

February 27, 2024 5718 Views 0 comment Print


Latest News


Representation for extension of Income Tax due dates to Finance Ministry

Income Tax : Synopsis of the Representation by ‘Bhayandar CA Social Group’ made for extension of due dates – To the Finance M...

December 25, 2021 33045 Views 3 comments Print

Members Regional Convention on International Taxation-2012

CA, CS, CMA : Vasai Branch of WIRC of ICAI is hosting  Members Regional Convention on International Taxation-2012 to share knowledge of Basic P...

December 14, 2012 1051 Views 0 comment Print


Latest Judiciary


Sundry Creditors arising out of Hawala-Linked Bogus Purchases: Income Tax Treatment 

Income Tax : Explore ITAT Mumbai's order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the...

January 5, 2024 6858 Views 0 comment Print

Consider extension of Income Tax Due dates: Gujarat HC to UOI

Income Tax : All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of...

January 8, 2021 25461 Views 0 comment Print

MAT on depreciation on write back of excess depreciation provided in earlier 10 years & credited to P&L A/c of current year

Income Tax : ACIT Vs M/s. Rational Handloom Co. Pvt. Ltd. (ITAT Mumbai) MAT on depreciation on write back of excess depreciation provided in ea...

August 25, 2019 3984 Views 0 comment Print

S. 271(1)(c) No Penalty if returned and assessed income are same

Income Tax : Armoury International Vs ACIT (ITAT Mumbai) In this case, the assessee was observed to have made bogus purchases as per informatio...

January 16, 2019 9792 Views 1 comment Print

Penalty u/s 271E may not be imposed where circumstances compels assessee to make repayment in cash

Income Tax : ITAT Mumbai held In the case of Jayantilal Vaishnav HUF vs. JCIT that the reasonable cause u/s 273B need to be seen from the conte...

December 9, 2015 1151 Views 0 comment Print


Latest Posts in CA Lalit Munoyat

Audit Requirements & Criterion for Business & Profession (Section 44AB) Assessment Year 2024-24

June 7, 2024 41217 Views 0 comment Print

Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including turnover and presumptive taxation rules.

PMLA with particular reference to Arvind Kejriwal and Aam Aadmi Party (AAP)

May 31, 2024 2844 Views 0 comment Print

Explore the Prevention of Money Laundering Act (PMLA) in India, ED powers, and significant Supreme Court rulings impacting anti-money laundering efforts.

Rules of Inheritance of Coparcenary Property

April 30, 2024 3327 Views 0 comment Print

Understand the Hindu Succession Act’s rules of inheritance for coparcenary property, including amendments for daughters’ rights. Learn how property is distributed among Class I and Class II heirs, agnates, and cognates.

Revamping SME Growth: An Overview of New Manufacturing Norms In India

April 4, 2024 462 Views 0 comment Print

Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thresholds, and benefits for small and medium enterprises.

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

February 27, 2024 5718 Views 0 comment Print

Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legislative framework, judicial interpretations, and penalties.

Sundry Creditors arising out of Hawala-Linked Bogus Purchases: Income Tax Treatment 

January 5, 2024 6858 Views 0 comment Print

Explore ITAT Mumbai’s order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the importance of accepted transactions.

Nature & effect of Explanations, Clarifications, Proviso etc.- “Retrospective or Prospective”

May 28, 2023 4686 Views 0 comment Print

Every year the government brings out and/or make provisions for introduction, amendment , deletion etc. of laws which are necessary under the circumstances then obtaining. In addition, certain explanations / clarifications /provisos are also inserted/ modified /deleted. Many a times it becomes difficult to understand if these changes of law would operate prospectively or retrospectively.

New Income Tax Amnesty Scheme? Convert Black into White without any Tax!

May 24, 2023 47148 Views 6 comments Print

Explore the potential pitfalls and opportunities of the new income tax amnesty scheme. Learn how to convert black money into white without facing taxes. Understand the implications for individuals and the economy.

Chartered Accountants, Company Secretaries & Cost Accountants under PMLA

May 13, 2023 35229 Views 0 comment Print

Under the amended PMLA, Chartered Accountants, Company Secretaries & Cost Accountants are covered within the definition of the Reporting Entity. Understand the obligations, verification processes, and confidentiality requirements. Stay compliant with the latest regulations.

All about Prevention of Money Laundering Act (PMLA), 2002

May 10, 2023 11856 Views 0 comment Print

Money laundering is illegal process of concealing origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

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