Day: January 21, 2019

ICAI Guidance Note Bank Branch Audit 2019 Edition- Part C

ICAI Guidance Note 2019 Edition Section C – Bank Branch Audit other than Foreign Exchange Transactions AASB has issued the third and the final part of the Guidance Note on Audit of Banks 2019 edition. 2019 edition of the Guidance Note has been divided in three separate sections as follows: …

Acceptance of loans by journal entries not violates section 269SS – SLP dismissed

Acceptance of loans by passing journal entries in books of accounts not in violation of section 269SS hence no penalty u/s 271D imposable – SC dismisses SLP of  ITD ABCAUS Case Law Citation: ABCAUS 2735 (2019) (01) SC Important Case Laws Cited/relied upon: Commissioner of Income Tax Vs. Triumph International Finance (I) Ltd. Premier Breweries Ltd. Vs. Commissioner of  Income Tax, 372 ITR 180. Commissioner of Income Tax Vs. Noida Toll Bridge Co. Ltd. 262 ITR 260 Sunflower Builders Vs. Dy.CIT, 1997 (61) ITD (Pune) 227,  Asst.CIT …