Advisory on Case Sensitivity in IRN Generation
Advisory on Case Sensitivity in IRN Generation Apr 4th, 2025 Dear Taxpayer, 1. This is to inform you that, effective 1st June 2025, the IRP (Invoice Reporting Portal) would treat invoice/document numbers as case-insensitive for the purpose of IRN generation. 2. To ensure consistency and avoid duplication, invoice numbers reported in any format… […]
Permanent Registration of the Trust – Quoting a wrong provision cannot be held to be fatal & well-deserved beneficial provision need to be extended: ITAT Nagpur
Permanent Registration of the Trust – Quoting a wrong provision cannot be held to be fatal & well-deserved beneficial provision need to be extended: ITAT Nagpur There are various cases wherein the application done by the charitable trust for final registration has been denied by the CIT (E) by pointing out that 1. The… […]
Error in claiming GST- ITC: Supreme Court directed CBIC to revisit rules to fix errors in GST filing due to Human Error
Error in claiming GST- ITC: Supreme Court directed CBIC to revisit rules to fix errors in GST filing due to Human Error Human Errors and mistakes are normal, and errors are made by the revenue. The right to correct mistakes in the nature of clerical or arithmetical is a right”: Human Errors and mistakes… […]
Compliance Calendar for April’2025
Compliance Calendar for April’2025 INCOME TAX ▪07th April 2025- Due date for deposit of Tax collected for the month of March 2025. ▪14th April 2025- Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194M & 194S in the month of February 2025. ▪30th April 2025- Due date… […]
ITAT allowed capital gain exemption u/s 54F – Where father died intestate, inherited property devolved equally on mother and son
ITAT allowed capital gain exemption u/s 54F – Where father died intestate, inherited property devolved equally on mother and son Where father died intestate, inherited property devolved equally on mother and son. With this observation, ITAT allowed full Section 54F exemption for reinvestment in residential houses purchased in both names of father and son…. […]
Deductors / collectors may get interest waiver if TDS/TCS amount debited from the bank account but not credited to the Government Treasury due to technical glitches
Deductors / collectors may get interest waiver if TDS/TCS amount debited from the bank account but not credited to the Government Treasury due to technical glitches As per section 201(1A)(ii) of the Income-tax Act, 1961, any person who is liable to deduct taxes does not pay the taxes deducted to the credit of the… […]
Section 254(1) & Rule 11 of the ITAT Rules: ITAT has power to admit any ground or issue not taken by either of the parties earlier in Appeal
Section 254(1) & Rule 11 of the ITAT Rules: ITAT has power to admit any ground or issue not taken by either of the parties earlier in Appeal The Hon’ble Tribunal held that Section 254(1) of the Act and Rule 11 of the ITAT Rules make it clear that the Tribunal is competent to… […]
ITAT quashed order under section 263 as CIT could not pinpoint any seized material relating to the issues on which revisionary directions is exercised
ITAT quashed order under section 263 as CIT could not pinpoint any seized material relating to the issues on which revisionary directions is exercised Hon’ble Delhi ITAT in the case of Tarun Radhakrishin Tahiliani v. PCIT (ITA No. 2323/DEL/2024, dated 28.03.2025) has quashed the order under Section 263 of the Income Tax Act, holding that… […]
Separate reporting of settlement related expenses in Form 3CD:
Separate reporting of settlement related expenses in Form 3CD: Introduction: 1. Clause 21 of the amended Tax Audit Report (Form 3CD) mandates the reporting of expenditure incurred for settling proceedings related to legal contraventions notified by the Central Government. 2. As per judicial precedents, penalties and expenses related to legal violations are not deductible… […]
Tax Audit Form 3-CD amended: Know key changes introduced in Tax Audit Report
Tax Audit Form 3-CD amended: Know key changes introduced in Tax Audit Report There are lot many changes which has been done in the tax audit report which is required to be filed by the auditor in Form No. 3CB. The changes includes modification of the existing clauses, removal of unwanted requirements and addition… […]
