Judgement

The ITAT cited clause (ii) of Section 151, which specifies the higher authority whose approval is required before issuing a notice under Section 148, if three years have elapsed.

Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority, Not PCIT

Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority Not PCIT

Articles

Company Law Committee's 2022 Report does not include any proposal for removing the statutory audit requirement for small companies.

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Tribunal deletes addition for routine family expenses; capital account credit issue sent back for fresh verification.

ITAT: Household Funds Received From Husband Not Taxable as unexplained cash credits

Tribunal rules that requirement of bringing foreign exchange into India applies only; remands issues of exempt dividend and enhanced 10AA deduction for reconsideration.

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Tribunal holds HUF cannot be donor under Section 56(2)(vii) but allows reconsideration under Section 10(2)

HUF not relative donor u/s 56(2)(vii) of Income Tax: ITAT

ICSI issues an advisory to all professional colleagues, requesting them to timely furnish their annual filings for the financial year 2024-25, as the due date is approaching.

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Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority Not PCIT

News of Removing Statutory Audit for Companies with Turnover Up to Rs 1 Crore Is Fake: Claims CA

ITAT: Household Funds Received From Husband Not Taxable as unexplained cash credits

ITAT Pune: Deduction under Section 10AA Cannot Be Denied for Late Realisation of Export Proceeds

HUF not relative donor u/s 56(2)(vii) of Income Tax: ITAT

ICSI Requests Members to Ensure Timely Compliance with Annual Filing Deadline for FY 2024-25