Books of account not audited at the time of filing of income-tax return is not a criteria to deny carry forward of losses.
DCIT v. Brahmos Aerospace (Thiruvananthapuram) Ltd. – [2022] 137 taxmann.com 340 (Cochin-Trib.)
Whether where a discretion is conferred upon a quasi-judicial authority whose decision has civil consequences, the word ‘may’ which denotes discretion should be construed to mean a command – Yes: HC., Whether therefore, the statute makes it mandatory for an assessee to be provided an opportunity of personal hearing in course of Faceless assessment – Yes; HC
Virasat Foundation v. Addl./Joint/Deputy/ACIT/ITO/National Faceless Assessment Centre, ITD, 2022-TIOL-622-HC-DEL-IT
Qualcomm and MeitY’s Center for Development of Advanced Computing (C-DAC) partner to support India semi-conductor start ups.
Core Industries grew by 10.4% during FY 2021-22; Steel, Cement & Natural Gas lead the way.
Ministry of Heavy Industries opens Price bids of the Grand Challenge tender process under the remodelled FAME II scheme for Electric Buses.
Implementation of climate actions by developing countries is contingent to adequate delivery of climate finance, technology transfer, and other implementation support from developed countries.
India logs five-fold increase in Patents granted and four-fold rise in Trademarks registered in 7 years – Secretary, DPIIT
Nineteen Companies file applications for PLI scheme for White Goods (ACs and LED Lights) in the second round of applications.
Maximum all India Power demand met, crosses 201 GW on 26 April 2022.
Exposure draft on Revised Accounting Standard on Segment Reporting (AS 108) issued by ICAI, Comments on the draft to be submitted by 28 May 2022.
