The Karnataka Government has blacklisted 60 CAs for committing irregularities. In response to a question from MLC Bharathi Shetty, the minister stated that these CAs will no longer be permitted to practice. According to the

Income Tax Appellate Tribunal ( ITAT ) of Chandigarh bench ruled that the penalty under section 271(1)(c) does not attract as the Tax Deduction Source (TDS) already deducted under Double Taxation Avoidance Agreements ( DTAA

The Mumbai Income Tax Appellate Tribunal (ITAT) ruled that concealed income under Section 271(1)(c) is not leviable if it is offered under the Income Disclosure Scheme (IDS) and ruled in favor of an assessee who

The Income Tax Penalty against Trip Advisor levied under section 271(1)(c) of the Income Tax Act, 1961, was deleted by the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ), which was presided

Kolkata bench of Income Tax Appellate Tribunal (ITAT) allowed the appeal in New India Assurance Co. Ltd versus JCIT and held that a technical venial breach would not attract penalty under section 272A (2)(k). The

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), while deleting a penalty order under section 271 (1) (c) of the Income Tax Act, held that mere non-production of parties before the Assessing Officer

The Institute of Chartered Accountants of India (ICAI) has unveiled the updated handbook on Tax Deduction at Source (TDS) provisions under Goods and Services Tax (GST). The incorporation of Tax Deducted at Source (TDS) provisions

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Bench held that the penalty cannot be levied since Show Cause Notice (SCN) issued by Directorate of Revenue Intelligence (DRI) is invalid. Ms. A. Aruna,

The Reserve Bank of India (RBI) has imposed a monetary penalty of rupees 6 lakhs on 4 Co-operative Banks of Gujarat and West Bengal for non-Compliance with regulatory directions. The co-operative banks are: Santragachi Co-operative

The Ahmedabad Bench of Customs, Excise, and Services Tax Appellate Tribunal (CESTAT) held that penalty was not leviable as service tax was paid in cash as soon as pointed out by the auditor. The appellant,

The Reserve Bank of India ( RBI ) has imposed, by an order dated October 14, 2019, a monetary penalty of ₹ 75 lakh (Rupees Seventy Five Lakh) on Syndicate Bank (the bank) for non-compliance

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that no penalty under Section 271(1)(c) can be imposed, without the assistance of the assessee in prosecuting the

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that penalty under section 271 (1) (c) cannot be imposed by AO, by non-application of mind. The aforesaid

As the New Financial Year (2023-24) will begin on April 1. For the last financial year( FY 2022-23), there are several duties that taxpayers should complete. Most taxpayers would have already finished all the tax-related

The Patna High Court quashed the order quantifying GST, interest, and penalty as no fair opportunity of hearing was accorded. The petitioner, Rambabu Singh has assailed the order passed by the respondent authority quantifying tax,