• Income Tax

Reopening u/s 148 without forming belief that income has escaped assessment bad in law

7 years ago

Reopening u/s 148 for mere non disclosure of bank account in ITR without forming belief that income has escaped assessment,…

  • Income Tax

Penalty 271A quashed as Rule 6F did not apply and assessee furnished adequate information

7 years ago

Penalty 271A cannot be sustained when assessee was not covered under Rule 6F assessee furnished adequate information to enable AO…

  • Income Tax

Applicability of section 115BBE to surrender made during survey is highly debatable – ITAT

7 years ago

Applicability of section 115BBE to surrender made during survey is highly debatable. ITAT quashed rectification order imposing higher tax rate…

  • Income Tax

Amendment of Form No 10B of auditors report u/s 12A1(b) for charitable institutions-Draft notification

7 years ago

Amendment of Form No 10B of auditors report u/s 12A(b) for charitable institution CBDT issues draft notification proposing more comprehensive…

  • SEBI

Innovation Sandbox by SEBI for FinTech firms to have access to market related data

7 years ago

Innovation Sandbox by SEBI for FinTech firms and entities not regulated by for access to securities market related data Securities…

  • Income Tax

Transfer & Posting in the grade of Chief Commissioner of Income Tax

7 years ago

Transfer & Posting in the grade of Chief Commissioner of Income Tax CBDT has posted recently promoted 28 officers on…

  • ICSI

ICSI Guidance Note on Report of the Board of Directors to facilitate compliance of SS-4

7 years ago

ICSI Guidance Note on Report of the Board of Directors in accordance with Secretarial Standard on Report of the Board of…

  • Income Tax

Peak credit addition include income only up to the date of peak balance not thereafter – ITAT

7 years ago

Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the…

  • GST

Input tax credit is admissible if consideration is paid through book adjustment

7 years ago

Input tax credit is admissible if consideration is paid through book adjustment. The GST Act and rules does not restrict…

  • Income Tax

Entrance fee / onetime fee from new members is capital receipts

7 years ago

Entrance fee / onetime fee from new members is capital receipts. Similarly  donation towards corpus fund were also eligible for…