ITAT Surat held that it is mandatory to provide proper opportunity of being heard to the assessee before finalization of revisionary proceedings under section 263 of the Income Tax Act. Accordingly, ...

6. From the perusal of the aforesaid provision, it is apparent that the Commissioner can conduct the audit at such frequency and in such manner as may be prescribed. There is no embargo on conducting ...

After reviewing the affidavit and considering the circumstances, the ITAT found merit in the assessee’s plea for relief. While the tribunal acknowledged the need to impose a penalty for non-compliance ...

This appeal by assessee is directed against the order of NFAC, Delhi dated 17.04.2024 passed u/s. 250 of the Income Tax Act, 1961 (in short ‘the Act’) for A.Y. 2017-18. The assessee has raised the ...

In Mohit Dewan Vs. Bank of Maharashtra & Anr, the NCLAT Delhi addressed an appeal challenging the initiation of Corporate Insolvency Resolution Process (CIRP) against the appellant, a personal ...

ITAT Ahmedabad held that provisions of section 68 of the Income Tax Act doesn’t apply in the matter of non-utilisation of amounts received towards Corporate Social Responsibility (CSR) activities.

ITAT Ahmedabad held that addition of short term capital gain on account of transfer of shares on presumption basis without bringing on record evidencing actual receipt of consideration cannot be ...

ITAT Jaipur held that the litigant cannot be permitted to throw the entire blame on the head of the consultant or Advocate and disown himself or herself at any time to seek relief for condonation of ...

In this guide, we’ll help foreign entities begin or expand their business in India by business registration for foreigners with the most suitable business option. Selection of the best business ...

If the company fails to comply with the provisions then it may lead to a minimum fine of ₹50,000 and a maximum fine of ₹5,00,000 on the persons responsible for the maintenance of books of accounts. ( ...

This paper discusses the three schools of thought regarding ‘income’ in such cases, the first one that says there must be entry of cost price in the revenue column thereby leading to cancellation in ...

As it turned out, the Bench then further enunciates in para 7 stating that, “With the above, the counsel argues that the High Court while considering bail, should not have imposed a precondition on ...