Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect ...
ITAT Delhi ruled that where an assessee disputes the stamp duty valuation under Section 50C, the Assessing Officer should refer the matter to the Valuation Officer. The Tribunal set aside the capital ...
Tribunal ruled that objections relating to defective title, encroachments, and legal disputes require proper valuation examination through a DVO reference. The addition under Section 56(2)(x) was ...
The Department of Consumer Affairs has clarified that customary units like inches, feet, and dozen may be used as supplementary declarations alongside SI metric units. However, SI units will continue ...
Automation is reducing repetitive accounting work such as GST filings, reconciliations, and data entry, but professional judgment and advisory roles still require Chartered Accountants. The article ...
Punjab and Haryana High Court granted bail in an alleged fake ITC case after noting that investigation was complete and evidence was mainly documentary and electronic. The Court held that continued ...
Anti-dumping duty protects local manufacturers from unfairly cheap imports that can damage domestic markets. The article explains its purpose, benefits, risks, and role in maintaining fair trade ...
Haryana Government has introduced a One Time Settlement Scheme for resolving legacy pre-GST tax disputes. The scheme offers waiver of interest, penalty, and relief in certain tax demands for eligible ...
Businesses across India are receiving GST notices for ITC reversal even after making genuine purchases and banking payments. The article explains key risks and precautions taxpayers must follow to ...
ITAT Mumbai Quashes Reassessment as Section 148 Notice Was Issued Beyond Surviving Limitation Period
ITAT Mumbai held that the reassessment notice issued on 24.07.2022 was time-barred under the Supreme Court ruling in Rajeev Bansal. The Tribunal ruled that reassessment proceedings and the ...
The Supreme Court ruled that a shortfall payment clause in a Deed of Hypothecation can qualify as a contract of guarantee under the IBC. The judgment grants consortium lenders Financial Creditor ...
The article explains how inadequate insurance coverage of hypothecated stock can expose banks to major financial losses despite valid stock audits. It highlights the responsibilities of stock auditors ...
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