Day: March 20, 2018
ICAI jurisdiction in disciplinary proceedings is confined to Show-Cause Notice. It can not ask response on applicability of Income Tax Act, FEMA, Benami Act, Prevention of Money Laundering Act, etc. ABCAUS Case Law Citation: ABCAUS 2254 (2018) (03) HC The Serious Fraud Investigation Office (SFIO) lodged a complaint …
Revised format of Income tax notices u/s 142(1)(ii) & (iii) The Directorate of Income Tax (Systems) has issued a Departmental Order on the subject of issue of notices under section 142(1)(ii) & (iii) of Income tax Act 1961 in revised format. The concept of electronic assessment proceeding was …
The Legislature cannot overturn a judgment by way of introducing an amendment to make the judgment wrong or a nullity-Supreme Court declares retrospective amendment as illegal ABCAUS Case Law Citation: ABCAUS 2253 (2018) (03) SC The Karnataka Money Lenders Act, 1961 (M.L. Act) regulates and control the transactions …
Addition for cash deposit in joint bank account with grandfather upheld. High Court rejected the plea that the assessee was only helping his old grand-father for operating the bank account. ABCAUS Case Law Citation: ABCAUS 2252 (2018) (03) HC The appellant assessee was aggrieved by the order of …