CBDT issues Instruction No. 01/2022 regarding Implementation of Hon. Supreme Court’s Judgment in Union of India vs. Ashish Agrawal dated 04.05.2022 Instruction No. 01/2022 | Dated: 11th May, 2022 F. No 279/Misc./M-51/2022-ITJ Ministry of Finance Department of Revenue Central Board of Direct Taxes ITJ Section New Delhi Subject: Implementation of the judgment of the Hon’ble Supreme Court dated 04.05.2022 […]
CBDT Issues Guidelines for compulsory selection of Income Tax returns for Complete Scrutiny during the Financial Year 2022-23 and procedure for compulsory selection in such cases vide Instruction No. F.No.225/ 81/2022/ITA-II Dated: 11th May, 2022. CBDT notifies Scrutiny criteria/Guideline for following parameters for compulsory selection of returns for Complete Scrutiny- 1. Cases pertaining to survey […]
Arjuna, there is too much discussion going on regarding the validity of notices issued between 01-04-2021 and 3006-2021 u/s 148 of the Income Tax Act for reassessment proceedings. The income tax department had issued notices u/s 148 for reassessment proceedings.
CBDT amends Income Tax rule 114 related to Application for allotment of a permanent account number and inserts new Rule 114BA. Transactions for the purposes of clause (vii) of sub-section (1) of section 139A and Rule 114BB. Transactions for the purposes of sub-section (6A) of section 139A and prescribed person for the purposes of clause (ab) of […]
Analysis of Guj HC decision on GST forced land deduction in construction service. Understand the impact & legality of 1/3rd land deduction in Real estate transactions.
Delhi HC reviews GST Act conditions for bail in Amit Gupta vs. Directorate case. Focus on ITC availing, reversal, and compliance with bail terms.
ICSI request MCA to grant relaxation of time period for resubmission of Forms for easing the stakeholders in this transition period to the new V3 Module, to allow one time opportunity for resubmission of forms which are NOT TAKEN ON RECORD and to allow waiver of additional fees for various LLP Forms upto 30.05.2022; and […]
Munjaal Manishbhai Bhatt Vs Union of India (Gujarat High Court) HC held that impugned Paragpragh 2 of the Notification No. 11/2017-Central Tax (Rate) dated 28.6.2017 and identical notification under the Gujarat Goods and Services Tax Act, 2017, which provide for a mandatory fixed rate of deduction of 1/3rd of total consideration towards the value of […]
PCJ Securities Private Limited Vs ITO (Delhi High Court) 1. This Court is actually surprised that despite an elaborate mechanism of checks and balances and multiple authorities like (assessment units, verification units, technical units, review units, Regional Faceless Assessment Centres and National Faceless Assessment Centre) being set up under Section 144B of the Act, such […]
Enforcement Authorities South Zone, CTD have raided the residential and business premises of a GST Auditor at Bangalore and Davanagere based on field intelligence, data analytics and Police FIR and busted a fake ITC case. The Auditor has collected money in the name of tax from more than 12 registered tax payers and the same […]
