![Failure to Audit Books of Account as per S. 44AB Not Bonafide Mistake when Assessee having Advice of Chartered Accountant : ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Audit-Books-of-Account-Chartered-Accountant-ITAT-Income-tax-Penalty-Advice-of-Chartered-Accountant-taxscan.jpg "Failure to Audit Books of Account as per S. 44AB Not Bonafide Mistake when Assessee having Advice of Chartered Accountant : ITAT upholds Penalty [Read Order]")
Failure to Audit Books of Account as per S. 44AB Not Bonafide Mistake when Assessee having Advice of Chartered Accountant : ITAT upholds Penalty [Read Order]
The Pune bench of Income Tax Appellate (ITAT) upheld the penalty imposed by the lower authorities under section 271B of the Income Tax Act, 1961. ...
![ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-ITAT-deletes-Disallowance-assessee-payment-payment-in-cash-seller-Income-Tax-taxscan-.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made payment in cash not directly to the seller [Read Order]")
![CIT(A) cant disallow Deduction claimed u/s 80P(2)(d) When Assessee filed Independent Auditor’s Report under Maharashtra Co-operative Societies Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CITA-Deduction-claimed-Assessee-Independent-Auditors-Report-under-Maharashtra-Co-operative-Societies-Act-ITAT-TAXSCAN.jpg "CIT(A) cant disallow Deduction claimed u/s 80P(2)(d) When Assessee filed Independent Auditor’s Report under Maharashtra Co-operative Societies Act: ITAT [Read Order]")
![No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-due-verification-of-records-by-AO-ITAT-allows-deletion-of-addition-on-unexplained-cash-deposits-TAXSCAN.jpg "No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]")
![CIT(A) cant disallow a Claim of Business Loss in the Presence of Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CITA-disallow-a-Claim-of-Business-Loss-in-the-Presence-of-Evidence-ITAT-TAXSCAN.jpg "CIT(A) cant disallow a Claim of Business Loss in the Presence of Evidence: ITAT [Read Order]")
ICAI imposes Rs. 5 Lakh and 3 months Probation on CA for exceeding No. of Tax Audits u/s 44AB [Read Order]
The Disciplinary Committee (DC) of Institute of Chartered Accountants of India (ICAI) recently imposed a penalty of Rs. Five Lakhs along with 3 months of probation period on Chartered Accountant...
Demise of Tax Auditor is reasonable cause in failure to upload Tax Audit Report on the Portal of Income Tax: ITAT [Read Order]
Demise of tax auditor is reasonable cause in failure to upload tax audit report on the portal of Income Tax, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held as above. Abha...
![Demise of Tax Auditor is reasonable cause in failure to upload Tax Audit Report on the Portal of Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Tax-Auditor-Tax-Audit-Report-Income-Tax-ITAT-taxscan.jpeg "Demise of Tax Auditor is reasonable cause in failure to upload Tax Audit Report on the Portal of Income Tax: ITAT [Read Order]")
Ceiling on Tax Audits by Chartered Accountants in a Year: Supreme Court to hear Petitions Challenging ICAI Rule
In a recent development, a division bench of the Supreme Court will be hearing the challenge against a rule issued by the Institute of Chartered Accountants of India (ICAI) barring members from...
![Accounts were closed prior to Write-off of Advances: ITAT upholds Disallowance of Write-off [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Accounts-advances-ITAT-Write-off-taxscan.jpg "Accounts were closed prior to Write-off of Advances: ITAT upholds Disallowance of Write-off [Read Order]")
FKCCI urges Centre either to remove or provide clarification on the newly introduced Clause 44 in Form No 3CD
Federation of Karnataka Commerce and Industries (FKCCI) in a letter addressed to Smt. Nirmala Sitaraman, Union Minister for Finance and Corporate Affairs requested to either scrap Clause 44 in Form...
ICAI found CA Guilty of Professional Misconduct for Accepting More than Specified Number of Tax Audits u/s 44AB [Read Order]
The Institute of Chartered Accountants of India (ICAI) has found that Chartered Accountant ( CA ) is guilty of misconduct for accepting more than a specified number of tax audits under section 44AB. ...
