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25 Days Delay in Filing Audit report due to Covid 19 Pandemic: Kerala HC sets aside Income Tax Order Declining to Condone Delay [Read Order]

Yogitha S. Yogesh

Relying In Re cognizance for the extension of limitation Case, the Kerala High Court sets aside the income tax order, which declined to condone the...

ITAT Holds Assessee's Delay in Filing Audit Report as Reasonable, Allows Claim u/s 80IAC [Read...

Deduction u/s 80IA(4) cannot be Denied for Delayed Filing of Form 10CCB Audit Report: ITAT [Read...

Company Admitted Short-Paid Service Tax Liability During Audit: CESTAT Rejects CA’s Certificate,...

Proceedings Based on Delayed Audit Report u/s 41(4) of OVAT Act cannot be Initiated by Dept: Orissa...

ITAT Accepts Medical Certificate as Sufficient Proof to Condone Taxpayer's Delay in Filing Audit Report [Read Order]

In a recent case before Income Tax Appellate Tribunal (ITAT), Bangalore the assessee’s appeal was allowed recognizing Medical Certificate as sufficient proof for condonation of taxpayer’s delay in...

No Disallowance of Deduction u/s 80-IA(7) solely on Failure to Digitally File Audit Report: Delhi HC [Read Order]

The Delhi High Court has ruled that a deduction under Section 80-IA(7) of the Income Tax Act cannot be denied solely because the assessee failed to digitally file an audit report. In the case, the...

Delhi High Court - Delhi HC - Disallowance - Disallowance of Deduction - Audit Report - File Audit Report - TAXSCAN

NFRA slams CA Firm with Rs. 10 Cr Penalty in CCD Case, debars Two Auditors [Read Order]

The National Financial Reporting Authority ( NFRA ) has imposed a record penalty of ₹10 crore on KPMG affiliate BSR & Associates LLP, marking the highest penalty ever levied by the regulator. ...

Chartered Accountant - CA Firm - CA Auditors - NFRA - TAXSCAN

Relief Granted to Trust Despite Late Audit Report Submission: Calcutta High Court Upholds ITAT's Decision [Read Order]

In the recent case, the High Court of Calcutta dismissed the revenue petitioner’s appeal challenging the Income Tax Appellate Tribunal’s( ITAT ) decision for assessment year(AY) 2020-21. The Court...

Filing of Audit Report before Framing Income Tax Assessment is Deemed Fulfilment of Section 80-IA(7) Requirement: Delhi HC [Read Order]

The Delhi High Court has ruled that an assessee is eligible for exemptions under Sections 11(1) and 11(2) of the Income Tax Act, and a procedural omission like not filing the audit report with the...

Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]

Recently the Income Tax Appellate Tribunal (ITAT) Chennai dismissed an appeal made for the deletion of penalty imposed under section 271 of the Income Tax Act 1961 (ITA), as ordered by the...

Absence of Adverse comments in Audit Report: Andhra HC allows Applications for Half-Yearly Accounts in Liquidation u/s 462 of Companies Act [Read Order]

In a recent judgement, the Andhra Pradesh High Court allows applications for half-yearly accounts in liquidation under Section 462 of the Companies Act, citing the absence of adverse comments in the...