Read More: https://www.taxscan.in/no-cogent-and-satisfactory-explanation-u-s-5-of-limitation-act-itat-refuses-to-condone-delay-of-781-days/280769/ The Amritsar Bench of Income Tax Appellate Tribunal (ITAT) has refused to condone a delay of 781 days holding that cogent and satisfactory explanation were not furnished
Read: What’s Aspire Scheme from MSME ministry, eligibility, benefits, more; check details
https://www.financialexpress.com/industry/sme/msme-eodb-whats-aspire-scheme-from-msme-ministry-eligibility-benefits-more-check-details/3103568/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
First Week of All India GST Drive reveals 10000 Fraud Registrations
Clipped from: https://www.taxscan.in/first-week-of-all-india-gst-drive-reveals-10000-fraud-registrations/281347/ In the first week of the joint drive, tax officials have identified around 10,000 illegitimate GST registrations, according to sources. The verification process
Failure to file Audit Report through a Qualified CA: ITAT upholds Penalty u/s 271B of Income Tax Act
Clipped from: https://www.taxscan.in/failure-to-file-audit-report-through-a-qualified-ca-itat-upholds-penalty-u-s-271b-of-income-tax-act/281279/ The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has recently upheld a penalty under Section 271B of the Income Tax Act, 1961 as the assessee
👍Power of Reopening Assessment is a Power, which is to be Sparingly used for Adequate Reasons: Calcutta HC quashes Assessment Order on Failure to Comply Natural Justice Principles
Clipped from: https://www.taxscan.in/power-of-reopening-assessment-is-a-power-which-is-to-be-sparingly-used-for-adequate-reasons-calcutta-hc-quashes-assessment-order-on-failure-to-comply-natural-justice-principles/281264/ Quashing the assessment order on failure to comply natural justice principles the Calcutta High Court remarked that the power of reopening assessment is
👍👍👍👍👍👍👍CBDT issues Guidelines and Procedure for Complete Scrutiny of ITRs during FY 2023-24
Read More: https://www.taxscan.in/cbdt-issues-guidelines-and-procedure-for-complete-scrutiny-of-itrs-during-fy-2023-24/281217/ Clipped from: https://www.taxscan.in/cbdt-issues-guidelines-and-procedure-for-complete-scrutiny-of-itrs-during-fy-2023-24/281217/ The Central Board of Direct Taxes (CBDT) has issued guidelines for selection and procedure for the compulsory scrutiny of Income Tax
Read: Some pain points addressed in surety bonds, more changes possible if need arises: Irdai
https://www.financialexpress.com/market/some-pain-points-addressed-in-surety-bonds-more-changes-possible-if-need-arises-irdai/3101648/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
Read: Exit tax norms: Relief for charitable trusts
https://www.financialexpress.com/money/exit-tax-norms-relief-for-charitable-trusts/3100872/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
Read: Why Wadia should let Go
https://www.financialexpress.com/opinion/why-wadia-should-let-go/3100883/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
ITAT Invalidates Reassessment as Notice u/s 143(2) Not Issued Within Time Limit”
Clipped from: https://www.taxscan.in/itat-invalidates-reassessment-as-notice-u-s-1432-not-issued-within-time-limit/280202/ The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) recently invalidated the reassessment proceedings as notice under Section 143(2) not issued within prescribed time limit. The
Non-Compliance of Notice not Deliberate: ITAT Deletes Penalty u/s 271B
Read More: https://www.taxscan.in/non-compliance-of-notice-not-deliberate-itat-deletes-penalty-u-s-271b/280022/ Clipped from: https://www.taxscan.in/non-compliance-of-notice-not-deliberate-itat-deletes-penalty-u-s-271b/280022/ The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271B of the Income Tax Act 1961 as
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