Month: February 2017

ICAI study circles independent PAN TAN Service Tax registration. ICAI constitutes Group to consider the entire structure to study circles

ICAI study circles independent PAN TAN Service Tax registration. ICAI constitues Group to consider the entire structure to study circles Constitution of Group to consider the entire structure to study circles, exploring ways and means to obtain independent PAN, TAN, Service Tax registration No.M-626/2017 21st February, 2017 ALL …

Correction in challan attributes in IDS 2016 payments-Guidelines. Changes in PAN, AY, Minor/Major Heads of e-payment/physical challans

Correction in challan attributes in IDS 2016 payments-Guidelines.  Changes in PAN, AY, Minor/Major Heads of e-payment/physical challans.  DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi- 110055 F.No.SW/07/01/06/OLTAS INSTRUCTION/DIT(S)II/ Dated: 13-02-2017 To The Principal Chief Commissioners of  Income-tax/ Chief Commissioners of Income-tax The Principal …

Gratuitous passengers-Insurance claim pay and recover principle. Insurance Company first to pay award to victims then recover it from vehicle’s owner-SC

Gratuitous passengers-Insurance claim pay and recover principle. Insurance  Company first to pay award to victims then recover it from vehicle’s owner-Supreme Court ABCAUS Case Law Citation: ABCAUS 1136 (2017) (02) SC Question for determination: Whether the appellants were entitled for an order against the Insurer of the offending …

SOP for verification of Cash deposits in bank post demonetisation.

SOP for verification of Cash transactions deposits in bank by Income Tax Officers post demonetisation. CBDT issues detailed Standard Operating Procedures  Instruction No. 03/2017 Government of India Ministry of FinanceDepartment of Revenue Central Board of Direct Taxes North Block, New Delhi Dated 21st of February, 2017 Subject: – …

Permanent injunction decree against judgment debtors legal representatives is executable. Maxim actio personalis moritur cum persona not applicable-SC

Permanent injunction decree against judgment debtors legal representatives is executable. Maxim actio personalis moritur cum persona not applicable-SC ABCAUS Case Law Citation: ABCAUS 1135 (2017) (02) SC Question involved: The question involved in the matter was executability of decree for permanent injunction against the legal representatives of judgment-debtor …

Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka High Court follows jurisdictional High Court

Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka High Court follows jurisdictional High Court In a recent judgment, ITAT Mumbai has upheld the penalty u/s 271(1)(c) dismissing the contention of the assessee regarding not striking off …