Month: May 2019
Notice u/s 143(2) issued by ITO of non jurisdictional ward and consequent assessment framed was invalid and hence both quashed ABCAUS Case Law Citation: ABCAUS 2977 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Hindustan Transport Co. vs. Inspecting Assistant Commissioner 189 ITR 326 Abhishek …
Reserve Bank of India Constitutes Committee on the Development of Housing Finance Securitisation Market Reserve Bank of India, with a view to review the existing state of mortgage securitisation in India and various issues constraining market development, and to develop the market further, the Reserve Bank of India …
Last date for filing ACTIVE e Form (INC-22A) expires on 15th June 2019 and no further extension would be provided. MCA in its advisory has stated that in case ACTIVE is not filed on or before the said date, the compliance status for such companies shall be marked …
Arrest under GST Act-Supreme Court says High courts have to keep in mind the recent dismissal of SLP by it on the subject. Position in law to be clarified ABCAUS Case Law Citation: ABCAUS 2976 (2019) (05) SC The other day the Hon’ble Supreme Court had dismissed the …
Section 148 of Negotiable Instruments Act 1881 Act apply retrospectively to offence u/s 138 even where criminal complaints were filed prior to amendment Act prior to 01.09.2018. ABCAUS Case Law Citation:ABCAUS 2975 (2019) (05) SC Important Case Laws Cited/relied upon by the parties:Garikapatti Veeraya v. N. Subbiah Choudhury, reported in AIR 1957 SC 540; In the instant case …
Penalty u/s 271AAB-Cash advances recorded in diary held not undisclosed Income when assessee was not carrying on any business and declared the surrendered income in return ABCAUS Case Law Citation: ABCAUS 2974 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: DCIT, Coimbatore Vs. R. Elanyovan …
Deduction u/s 80P(2) not allowed for unexplained income assessed u/s 68 of the Act. The addition u/s 68 did not increases income allowable for deduction u/s 80P ABCAUS Case Law Citation: ABCAUS 2973 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: A. Govindarajalu Mudaliar vs. …
Proof of address of individual prisoner in a jail – Amendment to PMLA Maintenance of Records Rules MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th May, 2019 G.S.R. 381(E).—In exercise of the powers conferred by sub-section (1) read with clauses (i), (jjj) and (k) of …
Penalty u/s 271(1)(b) deleted when assessment was framed u/s 143(3) proving that the assessee had cooperated in the assessment proceedings ABCAUS Case Law Citation: ABCAUS 2972 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Pramila Kumari Vs DCIT (2011) 49 CCH 0401 In the instant …
RBI extends RTGS Timings for Customer Transactions from 4:30 pm to 6:00 pm from 1st June 2019 Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions As per RBI notification, timings for customer transactions (initial cut-off) in RTGS shall be extended from 4:30 pm …