Author: administrator

Penalty 272A(2)(k)-Accountant left services was reasonable cause. If TDS + interest paid and return filed though belatedly there was no loss to Revenue

Penalty 272A(2)(k)-Accountant left services was reasonable cause. If TDS + interest paid and statements filed though belatedly there was no loss to Revenue – ITAT ABCAUS Case Law Citation: ABCAUS 1257 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner …

Handling-distribution loss in dealing wholesale poly pack milk allowed as nature of business demanded such losses & % was consistent

Handling-distribution loss in dealing wholesale poly pack milk allowed. The nature of business demanded such losses and the percentage incurred was consistent. ABCAUS Case Law Citation: ABCAUS 1256 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax …

Assessment us 153C based on paper not belonging to assessee was bad. Shifting burden without making basic enquiries not acceptable-Delhi HC

Assessment us 153C based on paper not belonging to assessee held as bad. Shifting the burden on assessee without making basic enquiries to unearth truth of the document can not be accepted-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1254 (2017) (05) HC The Grievance: The appellant Revenue …

Advertisement of coaching-teaching activities by CA in practice liable for disciplinary action-ICAI

Advertisement of coaching-teaching activities by CA in practice amounts to indirect solicitation amounting to misconduct liable for disciplinary action-ICAI ICAI ANNOUNCEMENT Re: Advertising by members in practice engaged in Coaching/Teaching activities Regulation 190A of the Chartered Accountants Regulations, 1988 provides that a chartered accountant in practice shall not …

Only chartered accountants can be Bank CFO-RBI

Only chartered accountants can be Bank CFO-RBI prescribes Minimum required qualifications and experience for Bank CFO and CTO Reserve Bank of India Minimum qualifications and experience for CFO and CTO RBI/2016-17/304 DBR.Appt.No.BC.68/29.67.001/2016-17 May 18, 2017 All Scheduled Commercial Banks (excluding RRBs) Madam/ Dear Sir, Minimum qualifications and experience …