Section 132 – SLP dismissed against order of HC that retraction of statement recorded u/s 132(4) has to be made within reasonable time or immediately after statement of assessee is recorded and, hence where retraction of statement recorded u/s 132(4) and later confirmed in statement recorded u/s 131 had been made by the assessee after almost eight months, same was to be discarded.
Roshan Lal Sanchiti v. PCIT – [2023] 150 taxmann.com 228 (SC).
CBDT releases guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24.
Notification F. No. 225/66/2023/ITA-II, dated 24-5-2023.
CBDT notifies enhanced exemption limit of INR 25 lakh for leave encashment u/s 10(10AA). The enhanced limit to apply with effect from 1-4-2023.
Notification No. 31/2023, dated 24-5-2023.
CBDT notifies persons exempt from provisions relating to ‘Angel Tax’.
Notification No. 29/2023, dated 24-5-2023.
CBDT issues clarifications on various provisions relating to charitable and religious trusts.
Circular No. 6 of 2023, dated 24-5-2023.
CBDT prescribes manner to compute ‘Net Winnings’ from online games u/s 115BBJ & Section 194BA.
Notification No. G. S. R. 379 (E), dated 22-5-2023.