Day: January 17, 2019
Statutory liability accrues on issuance of demand notice-ITAT deleted disallowance u/s 43B and allowed payment of Local Body Tax in the year of payment ABCAUS Case Law Citation: ABCAUS 2726 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming the disallowance made …
IBBI constitutes a Working Group to recommend regulatory framework to facilitate insolvency resolution and liquidation of corporate debtors in a Group Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 File No: IBBI/CIRP/GI/2018-19/001 17th January, 2019 Office Order Subject: Constitution of Working Group on …
ICAI Revised 2019 edition of the Guidance Note on Audit of Banks Section A – Statutory Central Audit. The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board (AASB) of ICAI every year which provide the detailed and updated guidance to the …
Addition u/s 69C for unexplained expenses on foreign tour along with spouse deleted by Tribunal as it was part of the sponsored dealership entourage ABCAUS Case Law Citation: ABCAUS 2725 (2019) (01) ITAT The assessment was completed under section 153A read with section 143 (3) of the Income …
Cash found during search belonging to parents- ITAT deleted the addition on account of cash belonging to the parents of the assessee found during search ABCAUS Case Law Citation: ABCAUS 2724 (2019) (01) ITAT The assessee was an individual and search and seizure operation u/s 132 of the …
No penalty could be levied on the difference resulted due to adoption of different GP rates made on estimate basis ABCAUS Case Law Citation: ABCAUS 2723 (2019) (01) ITAT Important Case Laws Cited/relied upon: India vs. Dharamendra Textiles 306 ITR 277 ; CIT vs. Sangrur Vanaspati Mills Ltd …