Post-Inspection Revised Return Cannot Shield Dealer from Sales Tax Penalty: Madras HC
HC upheld tax, modified equal addition and sustained Section 12(3)(b) penalty, holding a revised return after Income Tax inspection did not negate suppression.
NCLT Sanctions Amalgamation of Indo Bevs with Indospirit Beverages After Creditor Approval
NCLT Orders Shareholder & Creditor Meetings for Proposed Amalgamation
Calcutta HC Quashes Wilful Defaulter Notice for Vague Allegations
Delhi HC Affirms Confiscation of Gold Brought Without Declaration
ITAT Upholds Denial of Section 10(38) Exemption on SRK Industries Shares
ITAT Deletes Section 68 Addition on Recorded Cash Sales During Demonetisation
ITAT Deletes Section 69A Addition on Demonetisation Cash Deposits From Recorded Jewellery Sales
ITAT Quashes ₹2.74 Crore Section 68 Addition on Cash Deposits Supported by Books
CESTAT Allows Classification of Imported Quicklime Under CTH 2522 10 00
CESTAT Kolkata Sets Aside MOOWR Interest Demand, Intended Use of Capital Goods Is Sufficient
Karnataka HC Directs CISF to Provide Complete Airport CCTV Footage to Petitioner
Quick Lime Held Classifiable Under CTH 2522, Duty Demand Set Aside: CESTAT Kolkata
ICSI Invites Online Applications for 20 Executive Assistant Posts Across India
ICAI Board Reprimands CA for Client Solicitation and Audit Ethics Breach
Work in Progress Verification: Why WIP Is Blind Spot in Inventory Control
ICAI Board Reprimands CA for Client Solicitation & Questioning Successor’s Competence
ITAT Deletes Section 68 Addition on Recorded Jewellery Cash Sales
ITAT deleted the Section 68 addition on ₹80 lakh cash deposits, holding that audited cash sales recorded in books could not be taxed again…
Trade Advances Converted into Sales Cannot Be Taxed Under Section 68: ITAT Chennai
ITAT Chennai held that trade advances subsequently converted into recorded sales cannot be treated as unexplained cash credits under Section 68. It upheld deletion…
ITAT Deletes Demonetisation Addition Based on Mere Suspicion & Presumptions
ITAT deleted the addition on demonetisation cash deposits, holding that rejection of books and estimation of 25% profit lacked supporting material.
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty &…
Adv Akruti Goyal, a practicing CA handling GST compliance from 2015-2021. Qualified as a lawyer in…
Ajay Kumar Agrawal FCA, a science graduate and fellow chartered accountant in practice for over 26…
