Month: May 2025

Some inadequacy in inquiry cannot be a ground for invocation of revisionary powers under section 263 of the Act.   In a recent judgment ITAT Delhi has held that some inadequacy in the manner of inquiry cannot necessarily be a ground for invocation of revisionary powers under section …

Empanelment of concurrent auditor by U.P. Metro Rail Corporation Limited. U.P. Metro Rail Corporation Limited has invited tenders from Chartered Accountant firms/LLPs empanelled with C&AG, for the Internal audit of Uttar Pradesh Metro Rail Corporation Limited on concurrent basis UPMRCL was formed as a special purpose vehicle (SPV) …

Income Tax Department invites applications for empanelment of Special Public Prosecutors Applications are invited for empanelment of Special Public Prosecutors for representing the Income Tax Department in the Additional Chief Judicial Magistrate Court (Economic Offences), Ernakulam. The terms and conditions for engagement and eligibility are as per instructions …

Associations whose FCRA registration expired can pay compounding penalty and fees from FCRA bank account  FCRA allows association(s) whose FCRA registration validity has expired, to pay the compounding penalty and fees from the FCRA bank account As per Rule 12(5) of the Foreign Contribution (Regulation) Rules 2011 (FCRR, …

Cost accountant included in the list of eligible internal auditor of Credit Rating Agencies. SEBI has included the Cost Accountant as eligible for internal audit of credit rating agencies. It is known that Institute of Cost Accountants of India (ICMAI) is actively representing to the Government/other autonomous bodies …

BCI lays down Rules for registration & regulation of foreign lawyers or foreign law firms in India 2022 The General Council of Bar Council of India has amended the Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022. …

Dependent mother of the deceased also entitled to compensation under Motor Vehicle Act – Supreme Court In a recent judgment Hon’ble Supreme Court has held that dependent mother of the deceased is entitled to compensation under Motor Vehicle Act as obligation of a child to maintain their parent …

Bank certificate stating that fixed deposits did not pertain to the assessee, despite PAN of assessee used, the onus casted upon the assessee stood discharged – ITAT In a recent judgment ITAT Mumbai deleted addition u/s 69A observing that once the bank issued a certificate stating that the …

Indian Overseas Bank Concurrent Audit Empanelment for the financial year 2025-26 (from 01.07.2025 to 30.06.2026)   Indian Overseas Bank has invited online applications for Bank Concurrent Audit Empanelment for the financial year 2025-26. IOB Concurrent Audit Empanelment The following basic criteria will be adhered to in selection of …

Entire TDS credit allowed to the joint owner of the property in whose account entire sale consideration was received  In a recent judgment ITAT Bangalore allowed the entire TDS credit to the joint owner of the property in whose account entire sale consideration was received as the co-owners …