Month: April 2018
Cost Accountant misconduct for claiming Bogus TA Bills. Appellate Authority stayed the punishment due to lack of enquiry and examination by the Disciplinary Committee The allegation against the guilty cost accountant was levelled by another cost accountant alleging defalcation of funds of Eastern India Regional Council (EIRC) of …
Interest earned on share application money kept in fixed deposit was liable to be set off against the public issue expenses-Supreme Court The question for consideration was whether in the facts and circumstances of the case, interest accrued on account of deposit of share application money was taxable …
Satisfaction u/s 158BD can not be arrived without examination, verification of seized books documents. SC uphelds validity of notice issued by AO The appellant assessee had filed the instant appeal against the impugned judgment passed by the High Court by which it dismissed the appeal of the appellant …
Commencement of Disciplinary Proceeding under The Insolvency and Bankruptcy Code 2016-clarification by IBBI The Insolvency and Bankruptcy Code, 2016 (Code) envisages that an insolvency professional may be appointed as interim resolution professional, resolution professional, liquidator, or a bankruptcy trustee if no disciplinary proceeding is pending against him. The …
The disciplinary committee of IBBI debars a CA (hereinafter ‘IP’) from practicing as an Insolvency Professional. Earlier, vide an interim order dated 18th March, 2018, the disciplinary committee of the Insolvency and Bankruptcy Board of India (IBBI), had debarred a Chartered Accountant from practicing as an Insolvency Professional. Please note …
Supplying blue prints can be considered as technical services u/s 80-O but deduction rightly denied as they were not produced before lower authorities-Supreme Court  The instant appeal had been filed against the judgment passed by the High Court of Delhi whereby the Division Bench dismissed the appeal filed …
Reassessment on change of opinion on the same facts and  circumstances already in AO’s knowledge during the original assessment proceedings invalid-SC ABCAUS Case Law Citation: ABCAUS 2301 (2018) (04) SC The appellant Revenue had filed the instant appeal against the judgment of Delhi High Court quashing the notice …
Dena Bank Concurrent Audit online empanelment for FY 2018-19 Dena Bank has invited applications for selection of Chartered Accountants (CA) Firms as Concurrent Auditors for the FY 2018-19 at 179 centers across the Country. Submission of Applications The Recipients should submit their applications online on our website (www.denabank.com) …
Guidelines for dealing with information under Benami Transactions Informants Reward Scheme 2018.  The CBDT has laid down the guidelines for for dealing with information under the Benami Transactions Informants Reward Scheme, 2018 (‘the Scheme’) in the form of internal procedure for dealing with the matters under the Scheme …
Benami Transactions Informants can get reward up to Rs. One crore under the Benami Transactions Informants Reward Scheme 2018 The CBDT has introduced Benami Transactions Informants Reward Scheme 2018 for the reward scheme for informants giving information of benami property actionable under Prohibition of Benami Property Transactions Act, …
