Month: January 2019
Reopening for verification of purchases from hawala dealer-Supreme Court dismisses SLP of the Department challenging dismissal of appeal by High Court ABCAUS Case Law Citation:ABCAUS 2745 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against the decision …
Compliance must be made simpler for honest tax payers – Finance Minister stresses on simplification, transparency technology to smooth tax filing process The Union Minister of Finance, Corporate Affairs, Railways and Coal, Shri Piyush Goyal stresses on the simplification, transparency and use of latest technology in further smoothening …
Supreme Court upheld Constitutional Validity of various provisions of the Insolvency and Bankruptcy Code, 2016 ABCAUS Case Law Citation: ABCAUS 2744 (2019) (01) SC Important Case Laws Cited/relied upon: Madras Bar Association v. Union of India, (2015) 8 SCC 583 The Petitioners had challenged the constitutional validity of …
No penalty u/s 271D can be levied when cash loans were treated as undisclosed income of the assessee u/s 68 of the Income Tax Act – ITAT ABCAUS Case Law Citation: ABCAUS 2743 (2019) (01) ITAT Important Case Laws Cited/relied upon: Diwan Enterprises vs. CIT CIT vs. Standard …
IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016 amended to provide for performance security by resolution applicant Insolvency and Bankruptcy Board of India No. IBBI/PR/2019/0224th January, 2019 Press Release The Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for …
ICAI Revised Procedure for providing inspection/certified copies of evaluated answer-books to the concerned examinees The revised Guidelines are as under: 1. An examinee may apply seeking inspection/certified copies of answer books, within 30 days from the date of declaration of respective result(s), with the applicable fee, online at …
Reopening of assessment for past years on account of the cancellation of Registration u/s 12AA is not permissible unless registration was obtained by fraud, collusion or concealment of any material fact ABCAUS Case Law Citation:ABCAUS 2742 (2019) (01) HC The Petitioner had filed the instant Petition against the …
Supreme Court stays arrest of petitioner under GST Act, directs release on bail in the event of arrest ABCAUS Case Law Citation: ABCAUS 2741 (2019) (01) SC The Hon’ble Supreme Court has stayed the arrest of the petitioner under GST Act on the condition that he appears before …
Employees of depository participant entities not to be considered as Depository Participant or their associate under SEBI (D&P) Regulations 2018 CIRCULAR SEBIIHO/MRD/ DOP2-DSA2/CIR/ P/2019/22 January 23, 2019 ToAll Depositories, Dear Sir / Madam, Sub: Clarifications in SEBI (Depositories and Participants) Regulations, 2018 SEBI, vide notification dated October …
Have you done High Value Transactions in F Y 2017-18 but haven’t filed ITR Yet? CBDT Advisory Income Tax Department has issued an advisory stating that many persons who have done high-value transactions in F. Y. 2017-18, but not yet filed Income Tax Return for the corresponding Asst. …
