Author: shivangiverma10

1. The Institutes of Cost Accountants of India (ICMAI) has notified the extension of the last date of admission for Certificate in Accounting Technicians (CAT) Course students. “It is hereby notified that the last date of admission for CAT Course students stands extended up to 15th …

1. The Central Board of Direct Tax (CBDT) notified the extension of the last date of payment under Vivad se Vishwas which was earlier extended to 31st August 2021 is further extended to 30th September 2021. The Board empowered under section 3 of the Direct Tax …

1. The Institute of Chartered Accountants of India (ICAI) issues Technical Guide on Appeal before CIT(A), and Frequently Asked Questions (FAQs). Keeping pace with the latest technological advancements is a prerequisite nowadays. The thrust of the Government is on e-governance. Accordingly, to bring in transparency and …

Judgment:- The Madras High Court ruled that the normal depreciation could be considered as a legitimate deduction in computing the real income of the assessee on general principles. Facts of the case:- The assessee, Music Academy Madras has sought the ruling on the issue of whether …

1. The GST Portal is now accepting applications for revocation of canceled GST registration. 2. As per notification no. 34/2021-CGST dated 29th Aug 2021, the Central Board of Indirect Taxes and Customs (CBIC) notified the ​extension of the due date to September 30, 2021, for filing …

Judgment:- The Madras High Court held that the onus to prove the genuineness of transaction solely lies on the assessee, mere statutory approvals do not sanctify transaction. Facts of the case:- The assessee, M/s.Vishwatej Developers Private Limited had filed their return of income admitting loss and …

Judgment:- The Amritsar bench of the Income Tax Appellate Tribunal (ITAT) ruled that 60% Depreciation is not allowable on iPad as it is not a PC. Facts of the case:- The assessee, M/s Kohinoor Indian raised the issue of whether the iPad falls in the definition …