CA ALOK KUMAR, Author at CA ALOK KUMAR

Addition made by Income Tax Officer was not sustainable merely on the basis of entries in Foreign Bank Account – ITAT Surat Bench

By CA ALOK KUMAR October 13, 2022Income Tax Act 1961No Comments

Addition made by Income Tax Officer was not sustainable merely on the basis of entries in bank account maintained with HSBC Bank, Geneva, Switzerland ITO Vs. Alkesh Pratap Chandra Bhansali…

Was Demonetisation Decision Right or Wrong? SC

By CA ALOK KUMAR October 13, 2022Income Tax Act 1961No Comments

Honourable Supreme Court to Examine Central Government Decision on Demonetisation Decision Making Process Point Wise Summary of the Case A Constitution Bench of Honourable Supreme Court, Comprising Justices S Abdul…

Important Amendments Of The Finance Act 2022 Effective From 1st October 2022

By CA ALOK KUMAR October 10, 2022Central Government, CGST Act, Finance Acts, GST, IGST, Income Tax Act 1961No Comments

Amendments made vide the Finance Act, 2022 to be effective from 1st October, 2022 The Central Government vide Notification No. 18/2022-CT dt. 28.09.2022 has appointed 1st day of October, 2022, as the…

Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

By CA ALOK KUMAR September 28, 2022GST, Income Tax, Income Tax Act 1961No Comments

Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961 (hereinafter referred to as "the Act") with effect from 1 st July 2022. 2. The new section…

GST Intelligence team Recovered & Seized Rs. 177.45 Crore of Cash along with 23Kg Gold in Search Operation

By CA ALOK KUMAR September 28, 2022GST, GST IntelligenceNo Comments

The Ahmedabad unit of Directorate General of GST Intelligence (#DGGI) on 22.12.2021 initiated search operations in Kanpur at the factory premises of manufacturers of Shikhar brand Pan Masala and Tobacco products, the…

Post Office Bank has Crossed 5 Cr. Customer Base – Congratulations!!!

By CA ALOK KUMAR September 28, 2022India Post Payments Bank'sNo Comments

India Post Payments Bank's customer base crosses 5 Crore Mark What was termed as the biggest initiative of ﬁnancial inclusion in the country by the Prime Minister at its launch,…

Accumulated Cash available out of Past Savings justifiable as Source of Unexplained Money u/s 69A: ITAT (Bangalore)

By CA ALOK KUMAR September 28, 2022Income Tax Act 1961, source of incomeNo Comments

Case - Shri. Girigowda Dasegowda vs ITO - The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the accumulated cash available out of past savings is justifiable…