In case query is received from the tax department , the assessee has to establish , identity credit worthiness and genuineness of the transaction . The assessee may have to file the confirmation letter including the PAN . It is desirable for the assessee to keep the documents signed by the party .In Gaurav Triyugi… (read more)

In CIT v. Reliance Communications Ltd (2021) 323 CTR 873 / 208 DTR 113/ (2022) 440 ITR 1/ 284 Taxman 517 (SC) the Apex Court held that recalling the order is beyond the scope and ambit of the powers of the Tribunal . Tribunal has no power to recall its earlier order . In Sony… (read more)