• Income Tax

Statement recorded u/s 133A can not be retracted saying survey team exerted force on assessee when he issued a cheque by properly preparing, signing it

10 years ago

In a recent judgment, ITAT Chennai has held that a statement recorded u/s 133A can not be retracted saying survey…

  • Income Tax

Funds shortage due to project expansion was sufficient cause not to impose penalty u/s 221(1) for self assessment tax non payment before filing ITR

10 years ago

In a recent judgment, ITAT Chennai has held that paucity of funds due to project expansion was a sufficient case not…

  • Income Tax

Section 68 not applicable to liabilities representing old opening balances. Assessee’s Consent / acceptance do not give jurisdiction/right to make addition

10 years ago

In a recent judgment, ITAT Chennai has stated that consent/acceptance given by assessee could not give jurisdiction and a right to the assessing…

  • ICAI

ICAI Guidance Note on CARO 2016

10 years ago

Companies (Auditor’s Report) Order, 2016 (CARO 2016) issued by the Ministry of Corporate Affairs (MCA) is applicable for audits of financial…

  • Rules

New Rules notified by Government to revamp Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act

10 years ago

Ministry of Social Justice & Empowerment-Press Release dated 23/04/2016 New Rules notified by Government to revamp Scheduled Castes and Scheduled…

  • Excise/Custom

Central Govt. extends time limit for taking Central Excise registration of jeweller establishment up to 01.07.2016

10 years ago

Circular No. 1026/14/2016-CX F. No. 354/25/2016-TRU Government of India Ministry of Finance Tax Research Unit New Delhi, the 23rd April,…

  • Income Tax

Claim for sales return provision was in accordance with AS notified u/s 145 being best estimate of information available

10 years ago

In a recent judgment, ITAT Delhi has allowed claim for provision made for sales return holding that as per Accounting Standard…

  • Income Tax

UPS entitled to higher rate depreciation @ 60% being accessories and peripherals forming integral part of computer system

10 years ago

In a recent judgment, ITAT Delhi has allowed depreciation on UPS at the higher rate of 60% allowable at computers following…

  • Income Tax

House Property Annual Value u/s 23(1). Whether flat ihabitable or not, a question of fact to be determined after appreciation of evidences

10 years ago

ITAT, Mumbai in a recent judgment has held that for determination of Annual Value of House property, u/s 23(1), whether the…

  • Income Tax

Availability of self owned interest free funds for disallowance u/s 36(1)(iii) can only be determined by examining the accounts

10 years ago

In a recent judgment, Amritsar has held that issue of availability of self owned interest free funds for making disallowance u/s…