Doubtful advances written off treated as provisions not allowable expenditure in contrast to bad debts

Author: | Categories: Income Tax, ITAT, Judgments No comments | 128 views
Doubtful advances written off treated as provisions not allowable expenditure u/s 37(1) in contrast to bad debts w/o u/s 36(i)(vii) qua sundry debtor – ITAT ABCAUS Case Law Citation: ABCAUS 1281 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax  (Appeals) [CIT(A)] qua confirmation […]

Revised format of income-tax notices u/s 143(2) for e-proceedings

Author: | Categories: Income Tax No comments | 366 views
Revised format of income-tax notices u/s 143(2) for e-proceedings under Limited/Complete Scrutiny under CASS and Compulsory Manual Selection Issue of notices under section 143(2) of Income-Tax Act, 1961 in revised format F.No.225/157/2017 /ITA.II Government of India Ministry of Finance Departtnent of Revenue (CBDT) North Block, New Delhi, dated the 23rd of June, 2017 To All […]

Banking Ombudsman Scheme 2006 amended by RBI to cover insurance mutual fund/other third party investment products sold by banks

Author: | Categories: RBI No comments | 83 views
Banking Ombudsman Scheme 2006 amended by RBI to cover insurance mutual fund sale and other third party investment products sold by banks Reserve Bank of India Date : Jun 24, 2017 RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking The Reserve Bank of India has widened the scope of […]

Handbook of Statistics on Indian States 2016-17 released by RBI

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Handbook of Statistics on Indian States 2016-17 by RBI on socio-demographics, domestic product, agriculture, industry, infrastructure, banking and fiscal indicators Reserve Bank of India Date : Jun 24, 2017 RBI releases Handbook of Statistics on Indian States 2016-17 oday, the Reserve Bank of India released the second edition of its statistical publication titled “Handbook of […]

Excel Auto Bill Book Invoice Template for Chartered Accountants, Professionals with Bill Re-issue and Bill Series option.

Author: | Categories: CA CS CMA, Downloads No comments | 413 views
Excel Auto Bill Book Invoice Template for Chartered Accountants, Professionals. New version 07.14 with Bill Re-issue and Bill Series option. The ABCAUS Excel Bill Book was first launched in 2012, two years ago for helping those professionals who issue bills manually and need a simple automation solution for issuing bills and keeping a record thereof. […]

Delhi HC orders Bank Chairman to inquire attachment of wrong property on private detective agency report’s basis

Author: | Categories: High Courts, Judgments No comments | 90 views
Delhi HC orders Bank Chairman to inquire attachment of wrong property on private detective agency report basis and fix responsibility for negligent acts without due diligence and basic title research/inspection.   ABCAUS Case Law Citation: ABCAUS 1280 (2017) (06) HC Brief Facts of the Case: As per record, Canara Bank, Lucknow branch had extended loan/financial […]

Mere third party statement of accommodation entries not sufficient to reopen assessment

Author: | Categories: Income Tax, ITAT, Judgments No comments | 133 views
Mere third party statement of accommodation entries not sufficient to reopen assessment in the absence of any nexus of statement to alleged share applicants-ITAT ABCAUS Case Law Citation: ABCAUS 1279 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax  (Appeals) [CIT(A)] approving the reassessment […]
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