Sec. 288 – Preference to CAs over Cost Accountants for Director (Finance) post by Central Public Sector Enterprises is not discriminatory and is not violative of Art. 14 of Constitution of India.
Ruchir Agrawal v. Public Enterprises Selection Board – [2023] 153 taxmann.com 721 (Delhi).
CBDT notifies Rules 13 & 13A to implement Finance Act, 2023 amendments related to search and seizure.
Notification No. 70/2023, dated 28-8-2023.
Sec. 149 – Period of limitation – Notice issued in SLP against order of High Court that reassessment notice issued for AY 2013-14 and 2014-15 under old regime after expiry of six years limitation period were barred by limitation and Notification Nos. 20/2021 and 38/2021, dated 31-3-2021 and 27-4-2021 respectively, cannot extend time period provided under proviso to section 149(1).
ITO v. Keenara Industries (P.) Ltd. – [2023] 153 taxmann.com 205 (SC).
CBDT revamps Income-tax Dept. Website with user-friendly interface, adding features and new modules.
Inadvertence on the part of assessee to claim credit for advance tax while filing return of income or filing revised return of income in this regard does not absolve AO from its statutory duty u/s 219 to grant credit in regular assessment, particularly when the said amount was duly reflected in Form 26AS which formed part of record of revenue.
Damco India (P.) Ltd. v. CIT(A) – [2023] 153 taxmann.com 636 (Mumbai – Trib.).
CBDT releases instructions for Assessing Officers to implement Supreme Court ruling in Abhisar Buildwell delivered on the scope of section 153A/153C.
Instruction 1 of 2023, dated 23-8-2023.
MCA grants one-time relaxation for filing of Forms 3,4 & 11 under LLP Act without any additional fee.
General Circular No. 8/2023, dated 23-8-2023.
Penal Interest for default in repayment of loan to be now penal charges, no computation of further interest on penal charges.
Circular No. RBI/2023-24/53 DOR.MCA.REC.28/01.01.001/2023-24, dated 18-8-2023.
RBI directs banks to allow flexibility to borrowers to change loan tenure / EMI’s and to switch to a fixed rate of interest.
Circular No. RBI/2023-24/55 DOR.MCS.REC.32/01.01.003/2023-2024, dated 18-8-2023.
RBI launches Centralised Web Portal ‘UDGAM’ to ease searching of ‘unclaimed deposits’.
Press Release: 2023-2024/765, dated 17-8-2023.