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For all the taxpayers Multi-Factor Authentication (MFA) for using the updated versions of the E-Way Bill and E-Invoice Systems will be obligatory from April 1 next year, as per the GST portal advisory. There will be an updated provision for limiting the e-way bill generation. MFA starting January 1, 2025, will become obligatory for the […]
An electronic campaign has been launched by the Central Board of Direct Taxes (CBDT) to support assessees in solving the mismatches between the income and transactions notified in the Annual Information Statement (AIS) and those shown in the ITR for the financial years 2023-24 and 2021-22. Indeed the same campaign has the objective for the […]
It was carried by the Allahabad High Court that the finding of the Income Tax Appellate Tribunal and Commissioner of Income Tax (Appeals) that when an agreement between parties establishes a direct transfer of money, accomplishing so indirectly by holding the funds in a distinct account before sending them to the final account, does not […]
It was cited under the Gauhati High Court that the summary issuance of the Show Cause Notice in GST DRC-01 cannot replace the need for issuance of Show Cause Notice u/s 73(1) of the CSGT Act. The Bench of Justice Manish Choudhury marked that “…….the issuance of the Summary of the Show Cause Notice, Summary […]
The Delhi High Court has replied in the affirmative to the question that if section 153C of the Income Tax Act, 1961 limits an assessing officer from investigating apart from the considered documents for deriving satisfaction notes for starting assessment/ re-assessment of the ‘other person’. Section 153C carries a special provision for the assessment of […]
The appeal of the income tax officer has been rejected by the Punjab and Haryana High Court asking for the data under the Right to Information Act (RTI Act) associated with Trap Proceeding conducted against him by the Central Bureau of Investigation (CBI). In a corruption case, the Income Tax Officer was convicted and his […]
The Allahabad High Court rendered the State Goods and Service Tax Authorities to not take action towards any assessment year in which the Central Goods and Service Tax Authorities have taken action earlier. The applicant has approached the HC under Article 226 of the Constitution of India against the measures taken via the State and […]
The provisional attachment u/s 83 of the CGST Act ceases post 1 year and could not be attached again without providing a fresh reason, the Rajasthan High Court mentioned. The Division Bench, including Chief Justice Manindra Mohan Shrivastava and Justice Ashutosh Kumar, was dealing with a matter in which the taxpayer contested the attachment of […]
In the Lok Sabha, Pankaj Chaudhary, Minister of State for Finance, cited that the amended Section 43B of the Income-tax Act, 1961, introduced in the Union Budget last year, was endorsed via MSME associations in India. The amendment has the motive to address the problem of late payments faced via micro and small enterprises (MSEs), […]
