• December 6, 2023

This weekly newsletter analytically summarises the key stories reported at taxmann.com during the previous week from November 27th to December 2nd, 2023, namely: (a) Assessee is duty bound to respond to notices, appear & offer explanations before AO; HC refuses to halt proceedings; (b) Maximum penalty of Rs. 10,000 shall be levied for delay in payment […]

• December 5, 2023

Press Release dated December 1st, 2023 The Government has issued press release to inform that Gross GST Revenue collection for the month of November 2023 is Rs. 1,67,929 lakh crores. The revenues for the month of November, 2023 are 15% higher than the GST revenues in the same month last year. It is for the […]

• December 4, 2023

Case Details: ACIT (Exemption) v. Shri Mahudi Madhupuri Jain Shwetamber Murtipujak Trust - [2023] 156 taxmann.com 342 (Ahmedabad-Trib.) Judiciary and Counsel Details Smt. Annapurna Gupta, Accountant Member & Siddhartha Nautiyal, Judicial Member Kamlesh Makwana, CIT D.R. for the Appellant. M.K. Patel, A.R. for the Respondent. Facts of the Case The assessee was a religious trust, which was approved […]

• December 3, 2023

CA Sachin M Jain – [2023] 157 taxmann.com 21 (Article) Golden opportunity for all the taxpayers who missed filing Appeal within allowable time or who’s appeal got rejected due to time-barred against the order passed by proper officer uptill 31/03/2023. CBIC has come up with Amnesty Scheme wherein taxpayer can now file appeal to Appellate […]

• December 2, 2023

Table of Contents Significance of Self-assessment in GST Unveiling the Power of GST Returns: Compliance, Insights, and Effective Tax Administration Self-assessment Basis Supporting Sheet for Tax Authorities Impact on Tax Liability of Other Taxpayers Transfer of Information and Compliance Verification Inputs for Policy Decisions Management of Anti-evasion Programs Conclusion Check out Taxmann X GSTPAM | […]

• December 1, 2023

CA S. Krishnan – [2023] 156 taxmann.com 661 (Article) 1. Introductory Remarks A professional derives immense pleasure when he goes through certain judicial decisions wherein the facts of the case are analysed in detail and the judgment is rendered after detailed analysis of the facts of the case vis-à-vis applicable case laws. If one is […]

• November 30, 2023

Table of Contents Introduction Preventive Vigilance in Current Account Preventive Vigilance in Term Deposit Account Preventive Vigilance and Guidelines on a Continuous Basis Preventive Vigilance in Other Operational Areas Common Observations Regarding Fake Cheques Tips for Cheque Fraud Prevention Precautions Common to all Inter-branch Transactions Check out Taxmann's Guide to Bank Branch Management – Enhancing […]

• November 28, 2023

Case Details: Shrishti Institute of Medical Science and Research Centre vs. CIT (Exemption) - [2023] 156 taxmann.com 183 (Raipur-Trib.) Judiciary and Counsel Details Ravish Sood, Judicial Member & Arun Khodpia, Accountant Member Y.K. Mishra, Adv. for the Appellant. V.K. Singh, CIT-DR for the Respondent. Facts of the Case For the relevant assessment year, the assessee filed the return […]

• November 27, 2023

S.O. 5044(E) and 5045(E), dated 24-11-2023 The Central Board of Direct Taxes (CBDT) has notified ‘Chhattisgarh Rajya Beej Pramanikaran Sansth’ & ‘Maharashtra Council of Homoeopathy’ for the purposes of clause (46) of section 10 of the Income-tax Act, 1961. The exemption shall be applicable for assessment years 2022-2023 for Maharashtra Council of Homoeopathy and Chhattisgarh […]