Month: May 2017
Section 271J Penalty challenged in Madras High Court. The Court has accepted the writ petition and the matter is listed for next hearing in July 2017 ABCAUS Case Law Citation: ABCAUS 1232 (2017) (05) HC Finance Act, 2017 has inserted a new penal provision wef 01/04/2017 namely, section …
Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment of income or furnishing of inaccurate particulars-ITAT ABCAUS Case Law Citation: ABCAUS 1231 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of penalty …
No Penalty 271(1)(c) for disallowance 43B if quantum not disputed and following mercantile accounting it could be debited to Profit and Loss A/c – ITAT ABCAUS Case Law Citation: ABCAUS 1230 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) …
Penalty 271(1)(c) Non-deletion of few words not invalidated notice or caused any prejudice to the assessee when relevant clause was duly ticked-ITAT ABCAUS Case Law Citation: ABCAUS 1229 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of …
Bogus purchases-when sales not disputed entire addition not warranted. ITAT estimated addition @12.5% of alleged bogus purchases ABCAUS Case Law Citation: ABCAUS 1228 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of addition of bogus purchases to …
Panel of Experts as Mediator or Conciliators for 2016-17 & 2017-18, Office of Regional Director, North-Western Region, Ahmedabad List of Panel of Experts as Mediator or Conciliators for the year 2016-17 & 2017-18, Office of Regional Director, North-Western Region, Ahmedabad Sl No. Name of Applicant Address Contact No. …
Draft rules for valuation of unquoted equity share for the purposes of section 56 and section 50CA Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 5th May, 2017. Subject: Request for stakeholder’s comment on draft rules relating to …
RBI authorised to direct banks to start insolvency process in respect of a default The Government (Ministry of Law and Justice) has notified the Banking Regulation (Amendment) Ordinance, 2017 (No. 1 OF 2017) to further amend the Banking Regulation Act, 1949. It has come into force with immediate …
Service Tax Mega Exemption-Pradhan Mantri Vaya Vandana Yojana. PMVVY is a subsidized pension plan for citizens aged 60 year/more GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 17/2017-Service Tax New Delhi, the 4th May, 2017 G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) …
Eight States Assemblies passed State GST Act. GST will be rolled-out from 1st July, 2017. Next GST Council meeting is scheduled at Srinagar, J&K on 18th & 19th May, 2017 Ministry of Finance Press Release 04/05/2017 Eight States’ Assemblies pass the State GST Act within a short span …
