Furnishing an Audit Report with the return is a procedural provision: Gujarat HC
Furnishing an Audit Report with the return is a procedural provision: Gujarat HC Hon’ble High Court condones delay of 1128 days in filing of Form No. 10B and sets aside the Order under Section 119(2)(b) of the Income Tax Act, 1961 rejecting Petitioner’s Application for Condonation of Delay. The Hon’ble Court followed the judgment… […]
ROC Vijayawada penalized auditor for failing to qualify or comments or give opinion in the audit report
ROC Vijayawada penalized auditor for failing to qualify or comments or give opinion in the audit report Recently, an statutory Auditor penalized for failing to qualify or comments or give opinion in the audit report. Even though the company did not charge depreciation on its machinery and building, thereby violation of Sec 143(3) of… […]
If AO didn’t dispute purchase, only the profit element of alleged non-genuine purchases can be brought to tax.
If AO didn’t dispute purchase, only the profit element of alleged non-genuine purchases can be brought to tax. When the Assessing Officer himself has not treated the purchases as entirely fictitious and Bogus, instead, he has merely applied a percentage/ profit element. Then, the department cannot place reliance on PCIT vs. Kanak Impex (India) Ltd…. […]
A Comma That Changed the Law: Gujarat HC’s Sharp Turn in the JAO–FAO Controversy
A Comma That Changed the Law: Gujarat HC’s Sharp Turn in the JAO–FAO Controversy Just when we thought the debate on Jurisdictional Assessing Officer (JAO) vs. Faceless Assessing Officer (FAO) was leaning one way, the Hon’ble Gujarat High Court has delivered a significant judgment that changes the landscape. In the recent case of Snehdham… […]
Deduction u/s 80IAC – Whether Delay in Filing Form 10CCB is Fatal?
Deduction u/s 80IAC – Whether Delay in Filing Form 10CCB is Fatal? ITAT Delhi was concerned with an issue of Deduction u/s 80IAC & Scope of Amendment to Section 80IA(7) in the case of FIVD India Consulting Pvt. Ltd. v. DCIT, Circle 1(1), Gurgaon – ITA No. 3877/Del/2025 | Order dated 28 November 2025… […]
Allahabad High Court Protects Genuine Input Tax Credit: ITC Cannot Be Denied Merely Due to Subsequent Cancellation of Supplier’s GST Registration
Allahabad High Court Protects Genuine Input Tax Credit: ITC Cannot Be Denied Merely Due to Subsequent Cancellation of Supplier’s GST Registration In a significant relief to honest taxpayers, the Allahabad High Court has once again reaffirmed a crucial principle of GST law: Input Tax Credit (ITC) lawfully availed by a bona fide purchaser cannot be… […]
Release of seized jewellery and Application under Section 132B of the Income Tax Act, 1961
Release of seized jewellery and Application under Section 132B of the Income Tax Act, 1961 Getting jewellery released after its seizure is one of the tough task for the taxpayers. In one of the case before MP High Court, jewellery was seized in Jabalpur and subsequently a Writ Petition was filed before Hon’ble Madhya… […]
Issuance of notice U/s 143(2) prior to supply of recorded reasons U/s 147 is fatal & may vitiate entire reassessment
Issuance of notice U/s 143(2) prior to supply of recorded reasons U/s 147 is fatal & may vitiate entire reassessment Issuance of notice under section 143(2) prior to supply of recorded reasons under section 147 has been held to be a fatal procedural lapse vitiating the entire reassessment. The ITAT (Delhi Bench) in… […]
Once, the issue has been decided by the Hon’ble High Court in favour of the assessee, on the same very issue assessment for the subsequent assessment years cannot be reopened
Once, the issue has been decided by the Hon’ble High Court in favour of the assessee, on the same very issue assessment for the subsequent assessment years cannot be reopened Delhi ITAT quashes reassessment proceedings holding the same to be invalid on the ground that the very basis on which re-opening is initiated i.e. the… […]
Reopening order quashed as it was on the erroneous assumption that no return of income was filed – whereas the return was duly on record.
Reopening order quashed as it was on the erroneous assumption that no return of income was filed – whereas the return was duly on record. We represented a matter before the Hon’ble Delhi ITAT, where the reopening of assessment under Sections 147/148 was quashed in entirety. The Assessing Officer had initiated reassessment on the… […]
