Month: May 2019
Reassessment without fresh material with the Assessing Officer to believe that income has escaped assessment is invalid ABCAUS Case Law Citation: ABCAUS 2938 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Income Tax Officer, Ward 2(4) Vs. Chetna Surana In the instant appeal, the assessee …
Franchise of Kidzee school chain denied registration u/s 12AA as Trust was running with primary objective of branding and earning commercial profits. ABCAUS Case Law Citation: ABCAUS 2937 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. Highlanders Educational Academy Meritta Welfare Trust Vs. …
Penalty u/s 271BA deleted for not uploading audit report in Form No. 3CEB due to technical glitches when report was obtained before prescribed date ABCAUS Case Law Citation: ABCAUS 2936 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Ajit Singh Rana Vs. ACIT (2013) 33 …
If books of account not maintained penalty u/s 271B cannot be levied for non audit u/s 44AB. ITAT deleted penalty u/s 271B and sustained penalty u/s 271A ABCAUS Case Law Citation: ABCAUS 2935 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs. S.K. Gupta …
Inadequate enquiry leading to assumption of incorrect facts makes the order erroneous and prejudicial to the interests of the revenue – ITAT upheld the Revision order passed u/s 263 ABCAUS Case Law Citation: ABCAUS 2934 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Gee Vee …
Penalty u/s 271D-Cash received to get a good bank balance certificate for visa of the daughter constituted a reasonable cause within the meaning of section 273B ABCAUS Case Law Citation: ABCAUS 2933 (2019) (05) ITAT The only issue in the instant appeal filed by the assessee was as …
CBI arrested Inspector, E-way Bill Team for demanding /accepting bribe from complainant The Central Bureau of Investigation has arrested an Inspector, E-way Bill Team-II, Central GST, Noida (Uttar Pradesh) for demanding and accepting a bribe of Rs. 30,000/- from the complainant. A case was registered against the accused …
Fund manager” in Section 9A(4)(b) of the Income-tax Act includes an AMC as approved by SEBI under the SEBI (Mutual Funds) Regulations, 1996 – CBDT F. No: 500/182/2018-FT & TR-V Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax …
ICAI Ind AS-Disclosures Checklist for Accounting year 2018-19 (Revised May 2019) Ind AS-Disclosures Checklist by ICAI There are many disclosure requirements in Ind AS, the materiality governs deciding what information to disclose. ICAI had come out with a Publication on ‘Ind AS Disclosures Checklist’ in 2018 to provide …
Directors of company required to file e-form ACTIVE. On failure their DIN shall be marked as “Director of ACTIVE non-compliant company” MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 16th May, 2019 G.S.R. 368(E).—In exercise of the powers conferred by the second proviso to sub-section (1), subsection (4), …