News

The ongoing fall in Adani Group stocks made a deep dent in their investors’ portfolios in mere few trading sessions. The LIC is one of those affected investors.

LIC lost over Rs.26000 Crores of profit in Adani group stocks in last 23 days

Articles

SC has dismissed a High Court bail term requiring a person accused of illegally claiming Input Tax Credit to deposit Rs.70 lakhs, estimated amount of wrongfully claimed ITC.

Supreme Court Sets Aside Bail Condition to Deposit Rs.70 Lakhs in Case for Wrongfully Claiming ITC

Judgement

Income Tax Appellant Tribunal in the matter of M/s. Pantime Finance Company Pvt. Ltd. vs Income Tax Officer (ITO) held that SOP guidelines issued by CBDT in respect of listed scrips cannot be made applicable for unlisted scrips.

Penny Stocks: CBDT guidelines in respect of listed scrips cannot be made applicable for unlisted scrips

ITAT opined that merely for non-specifying in the notice as to under which limb the penalty is levied i.e., for concealment of income or furnishing inaccurate particular of income thereof, the penalty cannot be cancelled especially when the assessee who is a non- filer was put to notice which he has understood and has replied to such notice issued by the AO.

Merely non-specifying limb the penalty in Income Tax Notice cannot lead to cancellation of Penalty: ITAT

ICSI has notified that candidates who have registered under the CS Executive old syllabus (2017) can switch over to CS Executive new syllabus (2022) comprising 7 papers.

ICSI Guidelines for Switchover from old to new syllabus 2022 for CS 2023 Executive Exam

A tax residence certificate issued by authorities of a foreign nation cannot be questioned by tax authorities. This was mentioned in a recent judgement issued by ITAT Delhi.

Tax Residency Certificate cannot be questioned by Authorities

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