Inflation-linked valuation of rent-free accommodation covers house taken on lease/rent.
Notification No. 72/2023, dated 29-8-2023.
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.).