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Adverse view taken on evidence without opportunity to cross-examine It is settled proposition of law that whenever the AO intends to take adverse view against the assessee on the basis of any evidence, he is required to confront the same to the assessee and if the assessee desires, he …
CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income and revised return not accepted – ITAT ABCAUS Case Law Citation: 985 2016 (08) ITAT AY: 2007-08 Date/Month of Judgment: August 2016 Brief Facts of the Case: The …
CBDT extends IDS Form-2 acknowledgment issuance time to 30 days from 15 days for declarations filed under IDS Scheme in the month of July 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi, dated 12th August, 2016 Order …
MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 10th August, 2016 (INCOME-TAX) S.O. 2680(E).—Whereas, a Protocol amending the agreement between the Government of the Republic of India and the Government of Mauritius, signed on 24th August, 1982 for the avoidance of double taxation and the prevention …
Rent held Business Income not House Property income When the the assessee company had only one business and that is of leasing its property and earning rent therefrom, the income so earned should be treated as its business income and not as income from house property-Supreme Court ABCAUS Case …
Service tax on freight forwarders on transportation of goods from India when freight forwarders act as agent or principal. Circular No. 197/7/2016 -Service Tax F. No. 137/54/2016-Service Tax-Part-I Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Service Tax Wing New Delhi, …
Annual System Audit of Stock Brokers / Trading Members of National Commodity Derivatives Exchanges Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DEICE/CIR/P/2016/70 …
RBI-Customers Limited Liability in Unauthorised Net Banking Transactions. After reporting unauthorised transaction to bank loss shall be borne by bank. Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Reserve Bank of India (RBI) has placed a Draft Circular on “Customer Protection – Limiting Liability of Customers …
CA held guilty of misconduct not detecting fraud in bank concurrent audit, served with penalty of severe reprimand – Delhi High Court ABCAUS Case Law Citation: 983 2016 (08) HC Date/Month of Judgment: August 2016 The indictment: It was alleged by the bank that the respondents chartered accountant had …
F.No. 12(10)/E-Coord/2016 Government of India Ministry of Finance Department of Expenditure Lok Nayak Bhavan, New Delhi Dated the 10th August 2016 OFFlCE MEMORANDUM Subject: Settlement of audit objections- formation of Committee. It has been brought to the notice of this Ministry that a large number of Inspection Reports …
