Month: September 2019
ICAI holds convocation ceremony for Northern Region of ICAI on 30.08.2019 at New Delhi ICAI Press Release ICAI holds Convocation Ceremony at Delhi The Institute of Chartered Accountants of India (ICAI) is a statutory body set up in 1949 by an Act of Parliament to regulate the Profession …
Company filing complaints/petitions against various CAs in organised manner fined with Rs. One lakhs to discourage making litigation a business. ABCAUS Case Law Citation:ABCAUS 3135 (2019) (09) HC In the instant case, the petitioner was a private limited company. The petitioner had filed the petition, inter alia, impugning …
Deptt. to adjudicate SCNS no issued by proper officers (DRI, DGCEI, SIIB, etc) pertaining to demand prior to 08.04.2011 in the light of SC Stay order F.No.276/104/2016-CX.8A (Pt.)Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect taxes & Customs)Legal Cell***** Wing 5 ‘C’ HUDCO-VISHALA BuildingBhikaji Cama Place, …
There is no requirement to obtain NOC from previous auditor. Dissuading other CAs from taking up audit not object of CA Act 1949- HC ABCAUS Case Law Citation:ABCAUS 3134 (2019) (09) HC The petitioner, a chartered accountants firm had filed a petition impugning the order passed by the …
Thresholds of tax forgone for prior approval of CIT (intl taxation) for issue of certificate u/s 197 of the Income Tax Act increased to Rs. 10 crores F. No.275/16/2019-IT(B)Government of IndiaMinistry of Finance, Department of RevenueCentral Board of Direct Taxes***** North Block, New Delhi 2nd September, 2019 Office …
Set off of STCG loss with STCG allowed despite the assessee had not claimed it in his return of income nor filed revised return ABCAUS Case Law Citation:ABCAUS 3133 (2019) (09) ITAT Important case law relied upon by the parties:Goetze (India) Ltd., vs. CIT 284 ITR 323 (SC)CIT …
Assessees maintaining and not maintaining stock register cannot be equated. ITAT directs addition on estimate basis for possible leakage of revenue ABCAUS Case Law Citation:ABCAUS 3132 (2019) (09) ITAT Important case law relied upon by the parties:Kachwala Gems Vs. CIT 288 ITR 10 (SC)M/s. Chadha Automobiles India reported …
The Indian Insurance Companies (Foreign Investment) Amendment Rules 2019-No cap to foreign equity investment for intermediaries or insurance intermediaries MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 2nd September, 2019 G.S.R. 619(E).—In exercise of the powers conferred by clause (aaa) of sub-section (2) of section 114 …
CBDT Consolidated circular for income tax assessment of Startups-Procedure, time limit, additions u/s 56(2)(viib), demand etc. Circular No. 22/2019 Central Board of Direct TaxesMinistry of Finance North Block, New Delhi, dated the 30th August 2019 Sub: Consolidated circular for assessment of Startups – reg. In order to provide …
ICAI additional FAQs on UDIN for other Audit & Assurance Functions UDIN Additional Frequently Asked Questions(FAQs) I. Additional FAQs on UDIN for Other Audit & Assurance Functions 1. If UDIN could not be generated at the time of signing the Audit Reports/Certificates, what steps should I follow? It …
