Monthly Archive:: February 2017

CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court

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CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court ABCAUS Case Law Citation: ABCAUS 1146 (2017) (02) HC Important Case Laws Cited/relied upon: All India Council for Technical Education vs. Surinder Kumar Dhawan & Ors. (2009) 11 SCC 726 P.

Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in survey

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Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in survey ABCAUS Case Law Citation: ABCAUS 1145 (2017) (02) ITAT The Ground of Appeal: The only ground that survived for consideration was as under: That CIT(A) erred in not

ICAI Guidance Note on Audit of Banks 2017 edition issued by the Auditing and Assurance Standards Board

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Guidance Note on Audit of Banks 2017 edition issued by the Auditing and Assurance Standards Board of ICAI. Updated CD with printed book only Guidance Note on Audit of Banks 2017 edition issued by the Auditing and Assurance Standards Board he Auditing and Assurance Standards Board of the ICAI

Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made us 14A for interest expenditure

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Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made us 14A for interest expenditure ABCAUS Case Law Citation: ABCAUS 1144 (2017) (02) HC Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Dhanuka & Sons vs. CIT

Jurisdiction can not be conferred even by consent of parties. No principle of law can not confer legality to such income tax proceedings-Allahabad HC

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Jurisdiction cannot be conferred even by consent of parties. Acquiescence or any principle of law can not confer legality to such income tax proceedings-Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1143 (2017) (02) HC Brief Facts of the Case: In the present case, the order of assessment was

Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty- ITAT

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Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty- ITAT ABCAUS Case Law Citation: ABCAUS 1142 (2017) (02) ITAT The Grievance: The present appeal was filed by the assessee against the order of CIT(Appeals) sustaining the penalty order

Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

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Assessment on the basis of AIR without notice us 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT ABCAUS Case Law Citation: ABCAUS 1141 (2017) (02) ITAT Assessment Year : 2006-07 Date/Month of Pronouncement: February, 2017 Brief Facts of the Case:
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