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Tax assessment notices cannot be issued after three years, if the estimated concealment of income is below Rs 50 lakh

An income-tax notice cannot be issued if three years have passed since the end of the relevant assessment year. However, if there is evidence of concealment of income of at least Rs 50 lakh, a notice can be issued beyond three years but within 10 years of the end of the relevant assessment year.
Girish Kathpalia Yeeshu Sehgal Vivek Jalan Ashish Agrawal Rajiv Shakdher Income Tax Department

UPSC Key—22nd November, 2023: Hamas, Climate Negotiations, In-Situ and Ex-Situ Management of Crop Residue

Exclusive for Subscribers from Monday to Friday: Why Two-State Solution and Stubble burningโ€™s impact on environment are relevant to the UPSC Exam? What significance do topics like halal-certified product, COVID-19 and its impact on heart health, climate change โ€˜Loss and Damageโ€™ and monthly economic review for October 2023 have for both the preliminary and main exams? You can learn more by reading the Indian Express UPSC Key for November 22, 2023.
North West Frontier Israel General Uttar Pradesh Gaza Strip San Francisco United States

Recent FTC Merger Settlement Signals Increased Antitrust Agency Concerns about Coordination from Competitor Entanglements | Akin Gump Strauss Hauer & Feld LLP

Key Takeaways - An FTC merger settlement in the $5.2 billion transaction between EQT and Quantum, two producers of natural gas in the Appalachian Basin, signals the antitrust...
Linam Khan Alvaro Bedoya Mineral Company Oaktree Capital Management Department Of Justice See Reading Intern Inc

Court accepts plea to dissolve CG Power Solutions

The tribunal had also allowed the lenders plea to pursue recovery against the erstwhile promoters under the bankruptcy laws even after the dissolution of the company. Originally, the company had only two creditors including its holding company CG Power & Industrial Solutions and its financial creditor Stickwell (India).
Jyotia Singh Gautam Cg Power Industrial Solutions Murugappa Group Cg Power Solutions Cg Power Industrial Solutions Industrial Solutions

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