Month: April 2019
Central Government entitled to retain excess auction sale proceeds of confiscated goods u/s 125 of the Customs Act, 1962 and is under no obligation to refund the excess amount to the importer. ABCAUS Case Law Citation: ABCAUS 2891 (2019) (04) HC Important Case Laws Cited/relied upon by …
CBDT latest note on search conducted in NCR on a Group in the Power sector which is allegedly co owned by the relative of Madhya Pradesh Chief Minister Kamal Nath The Central Board of Direct Taxes (CBDT) had earlier issued a Press Note pertaining to searches conducted in …
Loan pre-payment premium/charges paid for reducing interest liability not result in acquisition of any asset and not a capital but Revenue expenditure ABCAUS Case Law Citation: ABCAUS 2890 (2019) (04) HC The instant appeal was filed by the Revenue against the impugned order of the Income Tax Appellate …
Front end fees paid to bank for obtaining new loan is revenue expenditure by nature and the assessee is entitled to amortize it – High Court ABCAUS Case Law Citation: ABCAUS 2889 (2019) (04) HC Important Case Laws Cited/relied upon by the parties Madras Industrial Investment Corporation Ltd. …
CBDT issues clarification on linking of PAN with Aadhaar Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 31st March, 2019 PRESS RELEASE CBDT issues clarification on linking of PAN with Aadhaar It has been reported in some sections of the media that those …
United Bank invites application for concurrent/Revenue audit for FY 2019-20 from eligible CA firms 1. United Bank of India invites application from eligible Chartered Accountant firms, desirous to undertake Concurrent Audit, Revenue Audit assignment, for empanelment. 2. The Application should be submitted on-line in the prescribed format given …
Custom valuation rules for imported goods operate sequentially-Supreme Court. Once statutory Rules exist and provide for sequential implementation, the assessing authority has no option but to proceed accordingly. ABCAUS Case Law Citation: ABCAUS 2888 (2019) (04) SC Important Case Laws Cited/relied upon by the parties Collector of Customs, …
In the absence of finding as to the year of purchase, jewellery found in locker would not represent the undisclosed income as defined in the explanation to section 271AAB of the Act ABCAUS Case Law Citation: ABCAUS 2887 (2019) (04) ITAT Important Case Laws Cited/relied upon by …
Rectification order u/s 154 quashed due to doctrine of merger. Questions expressly decided by appellate/revisional authority cannot be reagitated u/s 154 ABCAUS Case Law Citation: ABCAUS 2886 (2019) (04) ITAT Important Case Laws Cited/relied upon by the parties Rajputana Mining Agencies & others vs ITO (1979) 118 ITR …
No 5 day week in commercial banks-RBI clarification Reserve Bank of India Date : Apr 20, 2019 RBI clarification on 5 day week in commercial banks It has been reported in certain sections of the media that commercial banks would have a 5 day week in terms of RBI …
