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Addition for investment in land deleted when it was purchased by the company in the name of director to facilitate transfer as per State Laws-High Court Judgment ABCAUS Case Law Citation: ABCAUS 2199 (2018) (02) HC The Challenge/Grievance: The Revenue was aggrieved by the decision of the ITAT …
No proposal to withdraw protection against attachment of PPF Account under any decree or court order in respect of any debt/liability of depositors-Amendments in Small Savings Act. Yesterday, the Ministry of Finance by a press release denied the news circulated in print and social media that it aims to bring …
Addition u/s 68 for not producing shareholders details deleted as in public issue company not expected to know every detail of subscribers-High Court ABCAUS Case Law Citation: ABCAUS 2198 (2018) (02) HC Important Case Laws Cited/relied upon by the parties: Divine Leasing & Finance Ltd. (2007) 207 CTR …
Sale of shares can not be treated as business income merely on the basis of notes to Audited Accounts. Five broad tests emphasized by Courts ABCAUS Case Law Citation: ABCAUS 2197 (2018) (02) HC The Challenge/Grievance: The Revenue was aggrieved by the decision of the ITAT affirming the …
No doubt hopes of students have shattered-Delhi High Court dismisses writ against CA results expresses concern over circulation of maessages on whatsapp/facebook without any authenticity. ABCAUS Case Law Citation: ABCAUS 2196 (2018) (02) HC Important Case Laws Cited/relied upon by the parties: Sethi Auto Service Station and another …
CEO Government e Marketplace (GeM) notified u/s 138(1) (a)(ii) for the purposes of furnishing information by Income Tax Department Section 138 contains provisions for disclosure of information respecting assessee. As per the provisions, a person can make an application to the Income Tax Department in Form No. 46 …
All pending scrutiny assessment to be conducted only through e-Proceeding except for search cases CBDT has issued an Instruction (01/2018) making all pending scrutiny assessments mandatorily to be conducted only through the ‘E-Proceedings’. Sub-section (23C) of Section 2 of the Income-tax Act, 1961 (Act), applicable from 01.06.2016, provides …
CBEC circular clarifying various issues as approved by GST Council Central Board of Excise and Customs (CBEC) has issued a circular for clarification with regard to the following issues as approved by the GST Council in its 25th meeting held on 18th January 2018. S. No. Issue Clarification 1. …
Notice u/s 148 after four years by ACIT or DCIT requires sanction by CIT under the provisions of section 151(1) before amendment by Finance Act 2015 ABCAUS Case Law Citation: ABCAUS 2196 (2018) (02) HC Prelude: Before the substitution by the Finance Act, 2015, section 151(1) of the …
Superintendents of Central Tax shall also be empowered to issue show cause notices and orders under section 74 of the CGST Act. Section 73 of the Central Goods and Services Tax Act, 2017 (CGST Act) contains provisions with respect to demand and recovery of tax not paid or …
