Two distinct, non-adjacent flats at opposite ends of two different floors does not fulfill the criteria for exemption under Section 54F – Delhi High Court In a recent judgment, Delhi High Court held that use of the word ‘a‘ in Section 54F of the Income Tax Act denotes …
Violation of conditions u/s 13(1)(c) & denial of exemption – Supreme Court directs High Court to admit appeal In a recent judgment, Hon’ble Supreme Court has directed Hon’ble Bombay High Court to admit appeal on the substantial question of law as to whether violation of conditions under Section …
Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …
Time limit for issue of notice u/s 143(2) is from the date of filing of original return of income – ITAT In a recent judgment, ITAT Delhi has held that time limit for issue of notice u/s 143(2) has to be considered for date of filing of original …
Two flats on two different floors not a single dwelling unit – ITAT rejects exemption u/s 54 In a recent judgment, ITAT Delhi has rejected the claim of capital gain exemption u/s 54 holding that two flats on two different floors can not be considered as a single …
ITD to provide link to assessee to file appeal with new PAN when assessment order was passed in old PAN – High Court In a recent judgment, Hon’ble Kerala High Court directed Income Tax Department to provide a link in to assessee to file appeal in e-portal with …
Two distinct, non-adjacent flats at opposite ends of two different floors does not fulfill the criteria for exemption under Section 54F – Delhi High Court In a recent judgment, Delhi High Court held that use of the word ‘a‘ in Section 54F of the Income Tax Act denotes …
Violation of conditions u/s 13(1)(c) & denial of exemption – Supreme Court directs High Court to admit appeal In a recent judgment, Hon’ble Supreme Court has directed Hon’ble Bombay High Court to admit appeal on the substantial question of law as to whether violation of conditions under Section …
Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …
Increase in Common Adjudicating Authority for notices issued by the officers of Directorate General of Goods and Services Tax Intelligence CBIC vide Notification No. 02/2022-Central Tax dated 11.03.2022 had amended the principal Notification No. 02/2017-Central Tax dated the 19th June, 2017 to insert Table V to vest the …
Once an explanation is provided, it is incumbent upon GST authorities to examine it and come to a conclusion – Allahabad High Court quashed order u/s 74 of UPGST Act 2017 In a recent judgment, Hon’ble Allahabad High Court has set aside order passed u/s 74 of UPGST …
If HSN Code and rate of tax is similar, goods can not be detained for incorrect description of items transported. In a recent judgment, Hon’ble Allahabad High Court has held that when HSN Code and rate of tax is similar, goods can not be detained for mentioning incorrect …
MCA appoints four Judicial Members and Technical Members appointed in National Company Law Appellate Tribunal MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 25th September, 2024 S.O. 4196(E).—In exercise of the powers conferred by section 410 of the Companies Act, 2013 (18 of 2013) read with sub-section (2) of …
MCA relaxes time for producer companies for dematerialisation of securities. The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024 MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024 giving relaxation of time to producer companies in dematerialisation of securities MINISTRY OF CORPORATE AFFAIRS …
MCA notifies the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024. MCA prescribes conditions for merger or amalgamation when the transferor foreign company incorporated outside India is a holding company and the transferee Indian company is a wholly owned subsidiary company incorporated in India MINISTRY OF CORPORATE AFFAIRS …
Two distinct, non-adjacent flats at opposite ends of two different floors does not fulfill the criteria for exemption under Section 54F – Delhi High Court In a recent judgment, Delhi High Court held that use of the word ‘a‘ in Section 54F of the Income Tax Act denotes …
Violation of conditions u/s 13(1)(c) & denial of exemption – Supreme Court directs High Court to admit appeal In a recent judgment, Hon’ble Supreme Court has directed Hon’ble Bombay High Court to admit appeal on the substantial question of law as to whether violation of conditions under Section …
Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …
Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …
In cases of professional misconduct, the degree of proof beyond reasonable doubt do not apply – High Court held CA guilty of negligence in issuing two utilisation certificates. In a recent judgment, Hon’ble Delhi High Court upholding the Chartered Accountant guilty of professional misconduct held that in cases …
ICAI issues revised Criteria for classification of Non-company entities for applicability of Accounting Standards issued by it. The Council of the ICAI at in August 2024, considered the revised criteria for classification of Non-company entities for applicability of Accounting Standards issued by The Institute of Chartered Accountants of …
Excel New Tax Regime Calculator to compare Tax under old and new Personal Tax Regime u/s 115BAC for AY 2025-26 Release of excel tax calculator for New Tax Regime for AY 2025-26. This Excel Calculator utility has been made to compare Tax under existing old and new Personal …
Excel Auto 234ABC Interest Calculator for AY 2024-25 with accurate calculation as per revised provisions. Download for Corporate and Non-corporate Assessees Section 234A, 234B and 234C of the Income tax Act, 1961 deals with interest for delay in ITR Filing or Short/Non deposit of Advance tax. Interest is …
Excel Income Tax Challan ITNS 280 for FY 2024-25 AY 2025-26 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280 This excel Challan ITNS 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income …
Multipurpose Empanelment Form (MEF)- 2024-25 – Last date for submission extended from 21.10.2024 to 25.10.2024 ICAI, considering the extension of tax audit filing period and to give adequate time to members to submit MEF had first extended the due date from 7th October to 21st October, now again …
Empanelment to act as ICAI exam observers for January 2025 CA Examination. Last date to apply is 20.11.2024 Empanelment of Chartered Accountant Members to act as Observers at Examination Centres for The Chartered Accountants Examinations to be held in January 2025 ICAI proposes to empanel members to act …
Application invited by EPFO for empanelment of Advocates for block year 2025-27 EPFO Notice inviting applications for empanelment of advocates for Mumbai II, Thane Zone, for the block year 2025-27 Employees’ Provident Fund Organisation (EPFO) proposes to engage panel counsels for block year 2025-27 to represent the Central …
Implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 F. No. 450/28/20 l6-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs) Circular No. 25/2024-Customs North Block, New DelhiDated: 21 of November, 2024 …
Clarifications on the applicability of concessional duty under IGCR Rules, 2022 in certain instances F. No. 524/20/2024-STO(TU)Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs) North Block, New DelhiDated: 21.11.2024 Circular No. 26/2024-Customs ToAll Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive).All Principal Chief …
CBIC issues clarification on Insurance amount and Bond Value for Custom Cargo Service Providers CCSPs and validity of Bond for AEO-LO Circular No. 22 /2024-Customs File No. 520/32/2022-Cus-VIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsCustoms Policy Wing Room No. 252A, North Block, …
Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …
In cases of professional misconduct, the degree of proof beyond reasonable doubt do not apply – High Court held CA guilty of negligence in issuing two utilisation certificates. In a recent judgment, Hon’ble Delhi High Court upholding the Chartered Accountant guilty of professional misconduct held that in cases …
Mere disclaimer of opinion not enough-NFRA holds CA guilty of professional misconduct In a recent order, NFRA has held that though the chartered accountant issued a disclaimer of opinion both on Financial Statements and on the Internal Financial Controls, he was guilty of professional misconduct on account of …
