Daily Archive: Sunday, July 3, 2016

Penalty u/s 271(1)(b) deleted for non compliance due to non-availability of accounting staff in September month for finalization of accounts

Author: | Categories: Income Tax, ITAT, Judgments No comments
Penalty 2711b-Non compliance due to September Finalisation September being the month for finalization of accounts, the assessee’s explanation that there was nonavailability of accounting staff, cannot be doubted. Penalty u/s 271(1)(b) for non compliance of notices 143(2), 142(1) deleted by ITAT ABCAUS Case Law Citation: 964 2016 (06) ITAT Assessment

SEBI – FAQ on Foreign Portfolio Investors

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SEBI – FAQ on Foreign Portfolio Investors – 164 Question and answers  SEBI has issued a FAQ consisting of 164 questions and answers on Foreign Portfolio Investors to guide market participants on SEBI (Foreign Portfolio Investors) Regulations, 2014 The FAQ has been grouped into following headings: I. Transition from FII

MCA-21 ROC Fee Refund Procedure FAQ

Author: | Categories: Companies Act No comments
MCA-21 ROC Fee Refund Procedure FAQ 1. What is Refund Process The user is required to make various payments to avail MCA21 services. A number of instances have been observed where the users make multiple payments or incorrect payment or excess payment while using these services. In order to

No Additions solely on AIR information basis when the assessee denied reported transactions as the onus /burden shifted upon the AO – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Addition cannot be made solely on the basis of AIR information especially when the assessee denies the reported transactions and the onus/burden shifted upon the AO to rebut the accounts/contentions of the assessee – ITAT ABCAUS Case Law Citation: 963 2016 (06) ITAT Assessment Year: 2010-11 Date/Month of Judgment/Order: June
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