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Govt. issues strict direction to deal with fugitive economic offenders. Authoritoes who can issue Look Out Circular and detain any such person The Government issued directions to deal with wilful bank loan defaulters or fugitive economic offenders. For this a Look Out Circular (LOC) can be opened by …
IBBI amends IBBI (Insolvency Professionals) Regulations, 2016 & IBBI (Model Bye-Laws & Governing Board of Insolvency Professional Agencies) Regulations 2016 Insolvency and Bankruptcy Board of India PRESS RELEASE IBBI/PR/2019/1923rd July, 2019 The IBBI amends (i) the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, and (ii) …
Mere Permission to do work from home not take away status as employees for the purpose of EPF Act – Supreme Court ABCAUS Case Law Citation:ABCAUS 3080 (2019) (07) SC Important Case Laws Cited/relied upon by the parties:M/s P. M. Patel & Sons and Ors. v. Union of …
Salary accrued to non-resident for services rendered outside India not taxable and included in the total income. ABCAUS Case Law Citation:ABCAUS 3079 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Utanka Roy vs. DCIT & Others reported in 390 ITR 109 (Cal) The instant appeal by …
Good Work Reward to employee held not constituting bonus u/s 36(1)(ii) and allowable as normal business expenditure u/s 37 of the Act. ABCAUS Case Law Citation:ABCAUS 3078 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Shriram Pistons & Rings Ltd. Vs. Commissioner of Income Tax, (2008) …
Claim for exemption u/s 54B allowed though not made in the return of income. AO had disallowed claim as revised return was not filed ABCAUS Case Law Citation:ABCAUS 3077 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:M/s. Goetze India Pvt. Ltd. Vs. CIT 284 ITR …
No disallowance u/s 40(a)(ia) for short deduction of TDS made at less than prescribed rates. ITAT deleted addition following various judgments of High Courts. ABCAUS Case Law Citation:ABCAUS 3076 (2019) (07) ITAT DCIT vs. Chandabhoy reported in (2012) 17 taxmann. Com 158 (Mum.)CIT-LTU vs. HewlettPackard India Sales (P.) …
CBDT extends due date of 31st July 2019 for filing ITR to 31.08.2019. The due date of 31st July is primarily meant for salaried emplaoyee and non audit cases. CBDT has finally extended the due date of 31.07.2019 for filing the income tax return (ITR) by salaried employees …
Merely making cash payments cannot be a ground for disallowance if section 40A(3) not violated or no defects were found in books of accounts/bills & vouchers ABCAUS Case Law Citation:ABCAUS 3075 (2019) (07) ITAT The assessee had challenged the order of CIT(A) in sustaining the part disallowance out …
Disallowance u/s 40A(3) of payment of partners salary in cash. ITAT remands the case in view of Supreme Court judgment relied upon by the assessee ABCAUS Case Law Citation:ABCAUS 3074 (2019) (07) ITAT The appeal filed by the assessee firm was directed against the exparte order of …