Month: July 2018

Competition Commission of India imposes penalty on All India Chess Federation for abuse of dominant position and imposing unreasonable restraints on chess players/irganisations Competition Commission of India (CCI) issues order against All India Chess Federation (AICF) for abuse of dominant position and imposition of unreasonable vertical restraints on …

Name of purchaser to be mentioned on the face of Demand Draft, pay order, banker’s cheques, etc., by the issuing bank 15th September 2018 inwards-RBI Incorporation of Name of the Purchaser on the Face of the Demand Draft Reserve Bank of India has decided to incorporate the name …

Repetition in calculating amount of escaped income was non-application of mind by the AO who persisted with his mistaken belief in rejecting objections but also in adding the entire amount to the returned income – High Court ABCAUS Case Law Citation: ABCAUS 2412 (2018) 07 HC The instant …

Use of Aadhaar in Ayushman Bharat – Desirable and not “Must”  Some newspapers have reported today that the use of Aadhaar Card will be a “must” to avail benefits under the Ayushman Bharat – National Health Protection Mission. This is factually incorrect. Notification of the Ayushman Bharat – …

When sales accepted as genuine, entire purchases cannot be treated as bogus and added to the income but the profit element – ITAT ABCAUS Case Law Citation: ABCAUS 2411 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in The …

Disallowance of Partners remuneration of CA firm deleted by ITAT as the deed mentioned the method of quantification u/s 40(b)(v) of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 2410 (2018) 07 ITAT The instant appeal was filed by a chartered accountants firm against the order of …

CCI passes order under Lesser Penalty Provisions against broadcasting service providers for rigging bids in tenders by Sports Broadcasters  This case was taken up by Competition Commission of India (‘CCI’) suo motu under Section 19 of the Competition Act, 2002 (‘the Act’) based on the disclosure by Globecast India Private …

Increase in threshold monetary limits for filing Departmental Appeals at Appellate Tribunals, High Courts and the Supreme Court Major Steps taken for Reducing Tax Litigations  In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease …

Director of a company arrested for evasion of Service Tax  Officers of CGST Delhi North Commissionerate have arrested one Director of a Company for evasion of Service Tax. The Company had collected more than Rs. 3 Crores as Service Tax from its clients but had not deposited the …

Penalty for concealment can not be imposed when notice issued was for furnishing inaccurate particulars of income – ITAT ABCAUS Case Law Citation: ABCAUS 2409 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of the CIT(A) against the confirmation of penalty levied …