ITAT Mumbai held that GST/service tax which is collected by the assessee from its customers and paid to the Government do not form part of the receipts for computation of income as per section 44BB of ...

1. It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November, 2024. In this regard it to be informed that as per the design of IMS, ...

Securities and Exchange Board of India (SEBI) has issued an updated Master Circular on November 11, 2024, consolidating all circulars related to the SEBI (Issue of Capital and Disclosure Requirements) ...

Therefore, if on retirement, even on resignation by the employee, an employee gets by way of leave encashment any amount, clause (10AA) would apply, and the assessee would be entitled to the benefit ...

CESTAT Chandigarh held that interest on refund not eligible if the assessment is finalized within three months as prescribed ...

Goods not liable for seizure and penalty thereof when designated route not taken during transportation ...

Summary: The Standard on Auditing (SA) 610 provides guidance on the statutory auditor’s use of the internal audit function’s work in the audit process. Given the constraints of time and resources in ...

ITAT Hyderabad condoned delay of nearly a decade in filing of an appeal since tax liability was fastened on the assessee ...

CESTAT Chennai held that denial of refund claim related to cenvat credit of service tax under RCM by invoking provisions of ...

ITAT Bangalore held that disallowance under section 36 (1) (iii) of the Income Tax Act unwarranted as no new advance extended to sister concern. Accordingly, disallowance u/s. 36 (1) (iii) deleted.

ITAT Ahmedabad held that Rule 2BBB of the Income Tax Rules, 1962 was introduced only from AY 2015-16 and the same is not applicable for AY 2014-15. Thus denial of exemption u/s. 10 (23C) (iiiab) of ...

Bombay High Court held that non-filing of return of income within prescribed time due to genuine and valid reasons should be condoned. Accordingly, delay in filing of return of income condoned.