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section 44AB

Latest Articles


How Small Businesses can Optimize Tax Benefits under Income Tax Act 1961

Income Tax : Learn how small businesses in India can optimize tax benefits through strategic structuring, presumptive taxation, deductions, MSM...

May 5, 2025 585 Views 0 comment Print

Taxability of director remuneration: Salary or Business income

Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...

March 3, 2025 9366 Views 0 comment Print

Due Date Compliance Calendar for month of October 2024

CA, CS, CMA : Stay compliant with key September 2024 deadlines for GST, Income Tax, and ROC filings. Avoid penalties with this essential due dat...

October 3, 2024 4917 Views 0 comment Print

Income Tax Deductions allowable to tax payer

Income Tax : Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your...

September 7, 2024 1866 Views 0 comment Print

Clause wise Items reportable in Tax Audit Report (Form 3CA/3CB/3CD)

Income Tax : Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosure...

September 2, 2024 15342 Views 0 comment Print


Latest News


Request for Form 10B and Form 10BB Relaxation & due date Extension

Income Tax : Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Detai...

October 27, 2023 34170 Views 0 comment Print

Guidance Note on Tax Audit under Section 44AB

Income Tax : Explore the latest 2023 revision of the ICAI's Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961. Learn ab...

September 5, 2023 137622 Views 0 comment Print

Income Tax Audit Clinic

Income Tax : Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email i...

September 20, 2022 1509 Views 0 comment Print

Abolish requirements of reporting under Clause 44 of Tax Audit Report: CASS

CA, CS, CMA : Representation to CBDT on information sought from Tax Auditors under Clause 44 of Form 3CD and request to abolish this requirement...

August 25, 2022 9912 Views 1 comment Print

Representation to scrap Clause No. 44 of Tax Audit Report (Form 3CD)

Income Tax : Representation requesting to scrap  Clause No. 44 of  Tax Audit Report (Form 3CD) under the Income Tax Act, 1961...

August 18, 2022 14943 Views 3 comments Print


Latest Judiciary


Section 56(2)(vii)(b) doesn’t apply to agreement executed before 01.04.2014: ITAT Nagpur

Income Tax : ITAT Nagpur held that the provisions of section 56(2)(vii) (b)(ii) of the Income Tax Act came into statute by Finance Act 2013 w.e...

May 7, 2025 249 Views 0 comment Print

Reassessment proceedings based on incorrect information liable to be quashed

Income Tax : Patna High Court held that reassessment proceedings initiated on the basis of incorrect information which was not supported by any...

April 29, 2025 396 Views 0 comment Print

Section 270A Penalty Unjustified Due to Lack of Tax Evasion Intent: ITAT Pune

Income Tax : ITAT Pune held that non-inclusion of disallowance u/s. 43B while filing income tax return is bona fide and inadvertent error. Acco...

April 17, 2025 624 Views 0 comment Print

Section 263 Revision Unjustified as Assessment Not Erroneous or Prejudicial to Revenue

Income Tax : ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO af...

April 17, 2025 690 Views 0 comment Print

Order passed by CIT(A) without considering adjournment request not tenable: ITAT Raipur

Income Tax : ITAT Raipur held that passing of order by CIT(A) without considering adjournment request of the assessee is not justifiable in law...

April 11, 2025 579 Views 0 comment Print


Latest Notifications


CBDT extends Due Date for Filing Form 56F for AY 2024-25

Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...

February 18, 2025 8571 Views 0 comment Print

CBDT revises Form 3CD Tax Audit Report Format, Form 3CEB & Form No. 65

Income Tax : Stay updated with CBDT's Form 3CD Tax Audit Report Format, Form 3CEB & Form No. 65 revision. Learn about changes in tax audit rep...

March 5, 2024 36597 Views 0 comment Print

CBDT extends due date of Filing Audit report- Section 10AA(8)

Income Tax : Read Circular 18/2023 from the Government of India Ministry of Finance. Learn about the extension of the filing deadline for Incom...

October 20, 2023 39441 Views 0 comment Print

New reporting requirements in Form 3CD & Revision

Income Tax : CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax A...

April 1, 2021 39630 Views 1 comment Print

CBDT Defers GST & GAAR reporting till 31.03.2022

Income Tax : The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44  till 31st Mar 2022 due to COVID-19. F.No. 3701...

March 25, 2021 38796 Views 1 comment Print


Latest Posts in section 44AB

Section 56(2)(vii)(b) doesn’t apply to agreement executed before 01.04.2014: ITAT Nagpur

May 7, 2025 249 Views 0 comment Print

ITAT Nagpur held that the provisions of section 56(2)(vii) (b)(ii) of the Income Tax Act came into statute by Finance Act 2013 w.e.f. 01.04.2014 i.e., A.Y.2014-15. Accordingly, provisions cannot be made applicable to date of agreement before 01.04.2014.

How Small Businesses can Optimize Tax Benefits under Income Tax Act 1961

May 5, 2025 585 Views 0 comment Print

Learn how small businesses in India can optimize tax benefits through strategic structuring, presumptive taxation, deductions, MSME benefits, GST ITC, and available incentives.

Reassessment proceedings based on incorrect information liable to be quashed

April 29, 2025 396 Views 0 comment Print

Patna High Court held that reassessment proceedings initiated on the basis of incorrect information which was not supported by any material is not sustainable in law. Accordingly, order passed thereon is liable to be quashed.

Section 270A Penalty Unjustified Due to Lack of Tax Evasion Intent: ITAT Pune

April 17, 2025 624 Views 0 comment Print

ITAT Pune held that non-inclusion of disallowance u/s. 43B while filing income tax return is bona fide and inadvertent error. Accordingly, imposition of penalty under section 270A for bona fide mistake without intent to evade payment of tax is not justifiable.

Section 263 Revision Unjustified as Assessment Not Erroneous or Prejudicial to Revenue

April 17, 2025 690 Views 0 comment Print

ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO after proper verification of evidences. Further, assessment order is neither erroneous nor prejudicial to interest of revenue.

Order passed by CIT(A) without considering adjournment request not tenable: ITAT Raipur

April 11, 2025 579 Views 0 comment Print

ITAT Raipur held that passing of order by CIT(A) without considering adjournment request of the assessee is not justifiable in law. Accordingly, matter restored back to CIT(A) to re-adjudicate the same after affording reasonable opportunity of being heard.

Write-Back is not Turnover for Section 44AB Tax Audit: Gujarat HC

April 4, 2025 11244 Views 0 comment Print

Gujarat High Court rules write-back of provisions isn’t ‘turnover’ or ‘gross receipts’ under Sec 44AB, quashing tax return invalidation. Cites ICAI notes.

AI-Generated Tax Order Lacks Reasoning: Bombay HC directs revision

April 1, 2025 663 Views 0 comment Print

Bombay High Court directs tax revision for an AI-generated invalid return order lacking reasoning, stressing natural justice and human oversight.

Extraordinary event of demonetization to be considered while comparing cash sales during that period

March 10, 2025 411 Views 0 comment Print

Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ensuring that the sale is recorded in the system and adds a layer of authenticity.

Addition of recorded cash sales by treating it as unexplained cash deposits not justified

March 7, 2025 363 Views 0 comment Print

ITAT Jaipur held that addition of the amount already recorded as cash sales cannot be treated as unexplained cash deposits under section 68 of the Income Tax Act. Accordingly, addition is deleted and appeal is allowed.

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