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No Addition in absence of Incriminating Material during Search: ITAT [Read Order]

March 15, 2021

Income Tax Department - Search - Taxscan

Income Tax Department conducts Searches in Guwahati

December 26, 2020

Income Tax Department - Jharkhand - West Bengal - search - Taxscan

Income Tax Department conducts Search in Jharkhand and West Bengal

September 27, 2020

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Limitation Period for Penalty Order does not apply to Penalty Proceeding u/s 271D & 271E: ITAT [Read Order]

September 22, 2021

The Banglore Bench of Income Tax Appellate Tribunal (ITAT) held that the limitation period for penalty order does not apply to penalty proceedings under sections 271D and 271E of the Income Tax Act. The Assessee in the course of assessment proceedings for AY 2009- 10 to 2011-12, AO noticed that the Assessee had repaid cash […]

ICAI - Exposure Draft - Deferred Tax - Taxscan

ICAI Amends Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction

September 22, 2021

The Institute of Chartered Accountants of India (ICAI) has amended the provisions of Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction to ease diversity in the reporting of deferred tax on leases and decommissioning obligations. The Accounting Board of the Institute recently issued the Exposure Draft of amendments […]

Uttarakhand High Court - Vehicle - mango kernel oil - mahua oil - Taxscan

GST: Uttarakhand High Court orders Release of Vehicle, Mango Kernel Oil, Rice Bran Oil confiscated on Mere Suspicion [Read Order]

September 22, 2021

The Uttarakhand High Court ordered the release of Vehicle, mango kernel oil, mahua oil, rice bran oil confiscated on mere suspicion under the Goods and Services Tax Act ( GST ). The petitioner, M/s A.P. Refinery Pvt. Ltd is engaged in the supply of Rice Bran Oil (Grade-II). The petitioner was transporting Rice Bran Oil […]

Income Tax Return - Form-16 - Form 26AS - Taxscan

Income Tax Return: How to Handle Mismatch of Form-16 and Form 26AS?

September 22, 2021

Taxpayers are ought to submit their respective Income Tax Return within the stipulated time frame to avoid penalties. There are basically two major documents that you need for filing your annual returns namely Form 16 and Form 26AS. These two documents are complementary and should match in all respects to ensure that your ITR is […]

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Limitation Period for Penalty Order does not apply to Penalty Proceeding u/s 271D & 271E: ITAT [Read Order]

September 22, 2021

ICAI Amends Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction

September 22, 2021

GST: Uttarakhand High Court orders Release of Vehicle, Mango Kernel Oil, Rice Bran Oil confiscated on Mere Suspicion [Read Order]

September 22, 2021

Income Tax Return: How to Handle Mismatch of Form-16 and Form 26AS?

September 22, 2021

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