A write-off of accrued interest income is an allowable bad debt, provided that the interest was offered to tax in a previous year. Issue Is a moneylender entitled to a bad debt deduction under Section 36(1)(vii) of the Income-tax Act, 1961, for writing off accrued interest income, if that interest was duly offered to tax… Read More »
An assessment order that is passed in the name of a non-existing company that has already merged with another entity is a legal nullity and is void from the beginning. Issue Is a reassessment order legally valid if it is passed in the name of a company that has already ceased to exist due to… Read More »
Provisional sanction of refund claims on the basis of identification and evaluation of risk by the system Instruction No. 06/2025-GST File No.:CBIC-20006/4/2025-GST Government of India Ministry of Finance Department of Revenue Central Board Indirect Taxes & Customs GST Policy Wing New Delhi, dated 3rdOctober, 2025 To, All thePrincipal Chief Commissioners /Chief Commissioners of Central Tax… Read More »
Union Finance Minister Smt. Nirmala Sitharaman launches nationwide financial awareness campaign “आपकी पूँजी, आपका अधिकार” in Gandhinagar today “Unclaimed deposits not mere entries on paper; they represent the hard-earned savings of ordinary families”- Union Finance Minister “The 3As Strategy of Awareness, Accessibility and Action to be the guiding principles of the campaign”- Smt. Nirmala Sitharaman… Read More »