CBDT reduces time limit to verify ITR from 120 days to 30 days for returns filed on or after 01-08-2022.
Notification No. 5/2022, dated 29-07-2022.
SC refers to larger bench the issue whether assessee can challenge certificate u/s 197 issued to him at his ‘without prejudice to my legal position’ request.
National Petroleum Construction Co. v. Deputy Commissioner of Income-tax, Circle 2(2)(IT), New Delhi – [2022] 140 taxmann.com 659 (SC).
Sum disallowed u/s 14A cannot be added to net profit while computing profit for MAT purposes.
ACIT v. Geometric Software Solutions Co. Ltd. – [2022] 140 taxmann.com 647 (Mumbai-Trib.).