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Income Tax

CAAS Writ Petition: Gujarat HC Questions CBDT on Due Date Extensions and Compliance Gaps

On 26th September 2025, the Hon’ble Gujarat High Court heard the writ petition filed by the Chartered Accountants Association, Surat (CAAS) in the matter...

Team Counselvise - September 26, 2025

Income Tax

Section 37 vs 69C: ITAT Clarifies the Right Tool for Disallowance

Issue Involved Whether disallowance u/s. 37 is tenable where AO has not doubted the nature and source of purchases expenditure and addition is made solely...

Team Counselvise - September 26, 2025

Latest Articles

Income Tax

Guidelines for compulsory selection of IT Returns for complete scrutiny during the FY 2021-22

The Central Board of Direct Taxes (CBDT) on Thursday issued the Guidelines for compulsory selection of returns for Complete scrutiny during the Financial Year...

Priya kejriwal - June 11, 2021

Case Laws

Where department has accepted repayment of loan in subsequent year, no addition can be made in current year on account of cash credit.

The ACIT Vs. Smt. Anuradha Anilkumar Agarwal Facts of the case Pertaining to Ground 1:The assessee has shown total purchases of Rs.8,27,50,188/- in respect...

Tithi Shah - June 11, 2021

Is RBI’s latest circular on Crypto currencies a green signal for Legalization/Regularization of crypto currency trading in India?

Legalization/ Regularization of crypto currency trading in India?

Sourabh Agarwal - June 5, 2021

Income Tax

A time barred order u/s 263 is bad in law.

Begani Dyeing Mills Pvt.Ltd., Surat v. The Pr.CIT., Surat Facts of the caseThe case of the assessee was selected for scrutiny through CASS and...

Anjali Garg - June 4, 2021

Case Laws

When Assessing Officer admitted the genuineness of transaction in his Remand report, addition cannot be confirmed by CIT(A)

Sh. Mukesh Nanubhai Desai vs ACIT Facts of the case Assessee has earned exempt income of Rs. 8,67,79,658/- on account of Long term capital gain on...

Khushi Surana - June 4, 2021

Case Laws

Revision u/s 263 cannot be made on a issue which was never a part of the assessment order to be revised.

Nilkanth Developers vs PCIT - 3 Facts of the case Assessment order u/s. 143(3) was passed 26.03.2013 for A.Y.2010-11 disallowing deduction claimed u/s. 80IB(10) of Rs.1,25,78,872/-. The...

Shyam Mangukiya - June 4, 2021

General

Format of Statutory Auditors Report for FY – 2020-21

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ABC PRIVATE LIMITED Report on the Audit of the Financial Statements Opinion: We have audited the accompanying Financial Statements of ABC PRIVATE LIMITED (“the...