ABCAUS

ABCAUS

[ABCAUS @abcaus]

Assessment proceedings are summary that must be concluded in a time bound manner. It can never be the object of assessment proceedings to find an empirically, absolutely correct solution on every fact issue
https://t.co/UABZTWQTP8 #incometax

[ABCAUS @abcaus]

https://t.co/l4uOgDnUKR #incometax Unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous and preceding year would not attract penalty u/s 271B of the Income Tax Act, 1961 - ITAT

[ABCAUS @abcaus]

https://t.co/9NopKqvwXp #incometax ITAT Guwahati has held that merely rectifying computation without touching in the body of order without giving opportunity to the assessee does not nullify the entire assessment order passed

[ABCAUS @abcaus]

https://t.co/oJGLgKdUtG #incometax Once assessee discharges primary onus of providing basic documents in support of the identity, genuineness and the creditworthiness of lenders, it shifts to AO to bring any evidence to the contrary

[ABCAUS @abcaus]

In a recent judgment, ITAT has held that Bengali have right to be in HUF against the Assessing Officer holding that under Dayabhag law there is no concept of HUF https://t.co/JGaZ4FPjD9 #incometax #huf

[ABCAUS @abcaus]

https://t.co/MeTz0Cesp5 #incometax In a recent judgment, ITAT has held that presumption u/s 132(4A) r.w.s. 292C is applicable only in case of searched person and cannot be raised against the not the third person

[ABCAUS @abcaus]

https://t.co/8ji4ygxabQ #will In a recent judgment, Supreme Court held that when testator was illiterate , the burden was heavy on propounder of Will to satisfy judicial conscience of Court that Will was executed by testator with free will and full understanding of its contents.

[ABCAUS @abcaus]

https://t.co/EYn86KWkJb #mvact Supreme Court laid downs guidelines for use of Previous years or last three ITRS for assessing annual income of deceased person under Motor Vehicles Act 1988

[ABCAUS @abcaus]

CBDT condones delay in filing Form No. 10AB for approval u/s 80G(5) filed furnished electronically between 01.10.2025 to 31.03.2026. https://t.co/hXZMsNPXks #incometax

[ABCAUS @abcaus]

In a recent judgment, the Hon'ble Supreme Court has expressed serious concerns over judgments relied upon by the NCLT which were non-existent, some AI-generated paragraphs wrongly attributed to genuine citations.
https://t.co/wcWsBDd3sj #nclt #nclat

[ABCAUS @abcaus]

ICAI to take disciplinary action for quoting very low and incommensurate fee by Chartered Accountants
https://t.co/TGquJ1gX2L #icai

[ABCAUS @abcaus]

Requirement for filing Form 67 to claim claiming Foreign Tax Credit only directory not mandatory, Rectification u/s 154 can be availed of.
https://t.co/yjhDKKON2S #incometax

[ABCAUS @abcaus]

In a recent judgment, ITAT held that limitation for invoking jurisdiction u/s 263 of the Income Tax Act with respect to the issues not covered in re-assessment start from original Assessment Order not from Re-assessment Order. https://t.co/Q6FUaGr1KI #incometax

[ABCAUS @abcaus]

https://t.co/yIozePgniv #incometax In a recent judgment, ITAT has held that AO was not justified in rejecting the registered valuer’s report and taking the cost of improvement as Nil, without making a reference to the DVO

[ABCAUS @abcaus]

https://t.co/sR2FIs8Bgq #fcra FCRA specifies list of 105 purposes to be selected for which registration is applied

[ABCAUS @abcaus]

https://t.co/1HdG58t98A #incometax Assessee not liable to withhold tax at source u/s 40(a)(i) on cost-to-cost reimbursement to parent non-resident company towards IT cost & common software facility, salary & travel reimbursement with no profit element

[ABCAUS @abcaus]

https://t.co/NQvR1o0oKo #incometax High Court explains the meaning of tern ‘enterprise’ appearing in section 80IA to means a project or an undertaking owned by a company registered in India

[ABCAUS @abcaus]

https://t.co/AoVlQbrq3k #incometax In a recent judgment, ITAT has set aside the penalty u/s 271D and remanded the case for determination of whether payment of imprest constitutes a transfer within the meaning of section 269ST

[ABCAUS @abcaus]

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[ABCAUS @abcaus]

https://t.co/LnT9fiy5wm #supremecourt Supreme Court has held that moratorium provisions under IBC cannot be made applicable on criminal impact of Section 138 of NI Act. Moratorium must be made applicable in respect of recovery of compensation in Section 138 proceedings