Month: May 2019
What is principal business of assessee is very tricky question-High Court remands case to ITAT to examine applicability of exception u/s 73 of the Act ABCAUS Case Law Citation: ABCAUS 2905 (2019) (05) HC Important Case Laws Cited/relied upon by the parties Commissioner of Income Tax west Bengal-II …
ICAI 49th Campus Placement Programm. Substantial rise in Highest salary and jobs offered ICAI Press Release- ICAI 49th Campus Placement Programme Over 69 years ago, ICAI was established with about 1700 members and has grown to over 2.90 lakh members. ICAI and the profession have touched new heights …
When bank interest was declared in ITR, it cannot be said that bank account was not disclosed to the Revenue ABCAUS Case Law Citation: ABCAUS 2904 (2019) (05) ITAT The instant appeal was filed by the Assessee against the Order of the CIT(A) on the issue of addition …
Section 41(1) addition can not be invoked without any material evidence. High Court upheld quashing of addition made on account of remission/cessation of trade liability. ABCAUS Case Law Citation: ABCAUS 2903 (2019) (05) HC The appeal was filed by the Revenue against the order passed by the Income …
IBBI reacts on misleading news of IANS news story “Huge gap in 12 NPA cases dues with liquidation value.” denies to have made said claims Dated 3rd May, 2019 The EditorIANS India Pvt. LtdA-45 to 50, Right WingFirst Floor, Pioneer HouseSector-16, Noida-201301 U.P. Dear Editor, This has reference …
Temporary Surrender and Revival of Professional Membership of Insolvency Professional-Circular Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110001 CIRCULAR No. IBBI/IP/021/2019 2nd May, 2019 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email …
Limited scrutiny order passed by AO was not erroneous or prejudicial to the interest of Revenue as enquiries were focused and limited – ITAT ABCAUS Case Law Citation: ABCAUS 2902 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Malabar Industrial Co Ltd Vs. CIT’ (2008) …
ICAI postpones Foundation/Final June 2019 examination of five papers. Read revised schedule of dates for the postponed exams IMPORTANT ANNOUNCEMENT In partial modification of the Institute’s Notification No. 13-CA(Exam)/M/2019 dated 11th March, 2019, it is notified for general information that due to certain unavoidable circumstances, Paper – 3 …
ICAI bans a Chartered Accountant for one year from practice being found guilty of professional misconduct of lack of due diligence/ discharge of duties as auditor THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up under an Act of Parliament) NOTIFICATION New Delhi, the 3rd April, 2019 (CHARTERED …
Expenditure incurred on discontinued business unless shown to be incurred for reviving it not allowable under section 37(1) – ITAT ABCAUS Case Law Citation: ABCAUS 2901 (2019) (05) ITAT The sole issue raised by the assessee was the maintainability of the disallowance of expenditure incurred for maintenance …