• Excise/Custom

CBEC-Revised procedures to deal with revenue audit objections of CAG to prevent it mature into Audit Paragrap/report

11 years ago

Circular No. 1023/11/2016-CX Government of India Ministry   of   Finance Department   of   Revenue (Central Board of Excise & Customs) New Delhi,…

  • Income Tax

CBDT specifies procedure for online registration, submission of Form 61B u/s 285BA by reporting financial institutions

11 years ago

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 4/2016 New…

  • Income Tax

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

11 years ago

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference…

  • Finance Ministry

Dearness Allowance payable to Central Government employees enhanced from existing rate of 119% to 125% from 1st January, 2016

11 years ago

No. 1/1/2016-E·II (B) Government of India Ministry of Finance Department of Expenditure ***** North Block, New Delhi Dated the  7th…

  • Income Tax

CBDT order rejecting TDS refund on penal interest treating it non-exempt u/s 10(15)(iv)(c) quashed

11 years ago

In a latest judgment, Delhi High Court has quashed CBDT order rejecting refund of TDS deducted on penal interest treating it non-exempt…

  • Income Tax

Set off of business loss from unexplained cash credits u/s 68 not permissible in view of combined reading of sections 71 , 72 and 32(2).

11 years ago

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits…

  • Income Tax

Additional depreciation us 32(1)(iia)-There is no provision for postponement or carry forward to next financial year

11 years ago

In a recent judgment, ITAT Chennai has held that the assessee is not entitled to additional depreciation u/s.32(1)(iia) of the…

  • Companies Act

Financial Statements Formats for companies required to comply with IndAS-Amendment to Schedule-III

11 years ago

MCA Notification-Format of financial statements for a company whose financial statements are drawn as per Companies (Indian Accounting Standards) Rules, 2015. MINISTRY…

  • Income Tax

Merely because an income has been taxed in recipient’s hand it does not become deductible expenditure but as per Law

11 years ago

In a recent judgment, ITAT Mumbai has opined that merely because an income has been taxed in the hands of…

  • Companies Act

Banking, insurance, power, NBFC and housing finance companies need not file XBRL financial statements

11 years ago

GOVERNMENT OF INDIA Ministry of Corporate Affairs Notification New Delhi, the 4th April, 2016 GSR (E) - In exercise of…