Author: administrator
Re-appointment of erstwhile auditor in company who ceases to be governed by the rotation principles u/s 139 can be made – ICAI ICAI has clarified on the applicability of Auditor’s Rotation principles on a company as per Section 139 of the Companies Act 2013 where the company ceases to …
Appellate forum for appeals against order u/s 51 of FERA whether filed prior or after 01.06.2000 is Appellate Tribunal under FEMA – SC ABCAUS Case Law Citation:ABCAUS 2759 (2019) (01) SC The Foreign Exchange Regulation Act, 1973 (FERA) was repealed with effect from 01.06.2000 and replaced by Foreign Exchange Management Act, 1999 (FEMA). The issue involved in this case was …
Winding up Petition after secured creditor obtained decree from DRT and recovery certificate issued upheld by the Supreme Court ABCAUS Case Law Citation: ABCAUS 2758 (2019) (01) SC Important Case Laws Cited/relied upon by the parties Allahabad Bank v. Canara Bank, (2000) 4 SCC 406 Amalgamated Commercial Traders …
Anonymous donations received by religious and charitable trust not taxable u/s 115BBC when no university/educational institutions was run by the trust ABCAUS Case Law Citation: ABCAUS 2757 (2019) (01) ITAT The assessee had challenged the order of CIT(A) in confirming the addition made by the Assessing Officer (AO) …
Dismissal of appeal without issuing defect memo for delay in filing the appeal-It is well settled that nobody should be condemned unheard ABCAUS Case Law Citation: ABCAUS 2756 (2019) (01) ITAT The assessee had challenged the order of CIT(A) in holding the appeal as belated and hence not …
Advances made to group companies who were short of funds in order to honour cheque not deemed dividend but advances for business purpose. ABCAUS Case Law Citation: ABCAUS 2755 (2019) (01) ITAT Important Case Laws Cited/relied upon by the parties Bright Enterprises Pvt. Ltd. Vs. CIT (2016), 381 …
Status of Official Assignees is of artificial juridical person u/s 2(31)(vii) and is required to file ITR applicable as such for each of estate of insolvent Circular  No. 04 / 2019 Government of IndiaMinistry of Finance Department of RevenueCentral Board of Direct Taxes North Block, New Delhi, the …
Applicability of section 44AD for Railway Ticket Commission Agent upheld when in addition to booking he has to arrange conveyance to passengers and luggage ABCAUS Case Law Citation: ABCAUS 2754 (2019) (01) ITAT The assessee had challenged the order of the Commissioner of Income Tax (Appeals) on the …
Addition u/s 69 confirmed when assessee failed to establish link between cash withdrawn and cash found at the time of search ABCAUS Case Law Citation: ABCAUS 2753 (2019) (01) ITAT Important Case Laws Cited/relied upon by the parties Ms. Aishwarya K. Rai vs. DCIT (2007) 104 ITD 0166 …
Without treating assessee as “assessee in default” u/s 201(1), no disallowance can be made u/s 40(a)(ia) for non deduction of tax at source ABCAUS Case Law Citation:ABCAUS 2752 (2019) (01) ITAT Important Case Laws Cited/relied upon by the partiesCIT vs. Ansal Land Mark Township P Ltd reported in …