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Income Tax Act 1961

Ms. Bharti Das is the 27th CGA of India (Controller General of Accounts)

Ms. Bharti Das is the 27th CGA of India (Controller General of Accounts)

Posted by By CA ALOK KUMAR October 19, 2022Posted inIncome Tax Act 1961No Comments
As of today, Ms. Bharati Das is the new Controller General of Accounts (CGA). Ms. Das is the 27th Controller General of Accounts (CGA) for the Government of India's Ministry…
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Boost to Digital Banking – PM to dedicate 75 Digital Banking Units across 75 districts to the Nation on 16th October

Boost to Digital Banking – PM to dedicate 75 Digital Banking Units across 75 districts to the Nation on 16th October

Posted by By CA ALOK KUMAR October 15, 2022Posted inIncome Tax Act 1961No Comments
In yet another measure to deepen financial inclusion, Prime Minister Shri Narendra Modi will dedicate 75 Digital Banking Units (DBUs) to the nation on 16th October at 11 AM via…
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Addition made by Income Tax Officer was not sustainable merely on the basis of entries in Foreign Bank Account – ITAT Surat Bench

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

Posted by By CA ALOK KUMAR October 13, 2022Posted inIncome 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…
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Was Demonetisation Decision Right or Wrong? SC

Was Demonetisation Decision Right or Wrong? SC

Posted by By CA ALOK KUMAR October 13, 2022Posted inIncome 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…
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Important Amendments Of The Finance Act 2022 Effective From 1st October 2022

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

Posted by By CA ALOK KUMAR October 10, 2022Posted inCentral 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…
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Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

Posted by By CA ALOK KUMAR September 28, 2022Posted inGST, 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…
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Income Tax Acts

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

Posted by By CA ALOK KUMAR September 28, 2022Posted inIncome 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…
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