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CBDT Notifies revised procedures for imposing penalties under Faceless Penalty Scheme 2021
Income Tax
ReetuMay 28, 2022

CBDT Notifies revised procedures for imposing penalties under Faceless Penalty Scheme 2021

No penalty to be levied u/s 271D or 271E if there is reasonable cause
Income Tax
CA Ayushi GoyalMay 28, 2022

No penalty to be levied u/s 271D or 271E if there is reasonable cause

Section 154 of the Act cannot be invoked to make adjustments on debatable issues: ITAT
Income Tax
CA Deepak GuptaMay 27, 2022

Section 154 of the Act cannot be invoked to make adjustments on debatable issues: ITAT

TDS Section 194C not applicable on payments to agencies like HUDA on behalf of State Government: ITAT
Income Tax
CA Deepak GuptaMay 27, 2022

TDS Section 194C not applicable on payments to agencies like HUDA on behalf of State Government: ITAT

In case of assest acquired by way of gift, depreciation would be allowed on the WDV to the previous donor
Income Tax
CA Ayushi GoyalMay 27, 2022

In case of assest acquired by way of gift, depreciation would be allowed on the WDV to the previous donor

Penalties for violation of Sec 269SS & 269T deleted if there is reasonable cause for accepting/repaying loan in cash
Income Tax
CA Deepak GuptaMay 27, 2022

Penalties for violation of Sec 269SS & 269T deleted if there is reasonable cause for accepting/repaying loan in cash

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