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Rejection of account books for not producing vouchers quashed. The High Court held that mere absence thereof did not give rise to presumption that there was any non-disclosure when no evidence existed to doubt the correctness or completeness of the books of account. ABCAUS Case Law Citation: ABCAUS 2145 …
Tax demands raised by Income Tax on Software Industry for export of IT/IT enabled services provided to clients abroad. Govt says apprehensions without basis Press Information Bureau Government of India Ministry of Finance 12-December-2017 15:41 IST Apprehensions about the negative effects of certain tax demands on the Software …
Extraordinary high transitional credit claim of CGST under scanner. Taxpayers advised to revise Form TRAN-1 by 27-12-2017 for wrongly claimed ITC. Press Information Bureau Government of India Ministry of Finance 12-December-2017 15:41 IST Filing of Form TRAN-I to avail Input Tax Credit Transition to GST provided for trust …
Deemed dividend provisions not attracted in absence of actual payment. Payment u/s 2(22)(e) has to be physical-actual and not mere book entry-High Court ABCAUS Case Law Citation: ABCAUS 2144 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) This under …
Refund-Claim of Countervailing duty as Duty Drawback admissible only where inputs that suffered countervailing duties actually used in goods exported Circular No. 49/2017-Cus F.No.609/97/2017-DBK Government of India Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, the 12th December, 2017 To Principal Chief Commissioners/ …
ICAI Pre-Budget Memorandum-2018 on Direct and Indirect Taxes submitted to the Government in view of the ensuing Budget ICAI Pre-Budget Memorandum-2018 on Direct Taxes and International tax. The memorandum contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2018-19. The suggestions …
Finance Minister holds 6th Pre-Budget Consultation Meeting with Stakeholders from IT (Hardware &Software) Group Press Information Bureau Government of India Ministry of Finance 11-December-2017 18:49 IST The Union Finance Minister Shri Arun Jaitley holds his 6th Pre-Budget Consultation Meeting with Stakeholders from IT (Hardware &Software) Group;Highlights the steps …
Exemption u/s 80IB ineligible if undertaking do not remain SSI in a particular assessment year even if in initial year eligibility was satisfied.-Supreme Court ABCAUS Case Law Citation: ABCAUS 2143 (2017) (12) SC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against …
Finance Minister holds 5th Pre-Budget Consultation Meeting with the leading Economists Press Information Bureau Government of India Ministry of Finance 11-December-2017 16:49 IST The Union Finance Minister Shri Arun Jaitley holds his 5th Pre-Budget Consultation Meeting with the leading Economists; FM states that despite subdued global economic growth, …
Reservation in CA course-ICAI denies news in social media that Court of Law has been approached seeking direction to ICAI ICAI denies reservations in CA course ANNOUNCEMENT The Institute has come across certain messages that are being aired in social media that some persons have approached to the Court …
