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Reopening us 147 for accommodation entries quashed. AO did not describe how and what manner assessee received entries from operators and paid cash

Reopening us 147 for accommodation entries quashed. AO did not describe how and what manner assessee received entries from operators and paid cash

May 14, 2016 Income Tax, ITAT, Judgments
Reopening us 147 for accommodation entries quashed. AO did not describe how and what manner assessee received entries from operators and paid cash. Case Law Details: Dhanuka Agritech Ltd vs. ACIT ITA No. 1003/Del./2014 : AY : 2003-04 Date f Order/Judgment: 11/05/2016 Brief Facts of the Case: After the …
Basic Maxims-Principles of Natural Justice. Audi alteram partem, nemo judex in re sua. Order passed without confronting assessee with remand report quashed

Basic Maxims-Principles of Natural Justice. Audi alteram partem, nemo judex in re sua. Order passed without confronting assessee with remand report quashed

May 14, 2016 Income Tax, ITAT, Judgments
Basic Maxims-Principles of Natural Justice. Audi alteram partem, nemo judex in re sua Quoting the above maxim of natural justice as laid down by the Supreme Court, ITAT, New Delhi in a recent judgment set aside order passed by CIT(A) without confronting the assessee with the remand report …
Juridical seat of Arbitration attracts law of the location. In such cases Part I of the Arbitration Act would not have any application-Supreme Court

Juridical seat of Arbitration attracts law of the location. In such cases Part I of the Arbitration Act would not have any application-Supreme Court

May 14, 2016 Supreme Court
Juridical seat of Arbitration attracts law of the location. In such cases Part I of the Arbitration Act would not have any application-Supreme Court Case Law Details: Civil Appeals Nos. 5131-5133 of 2016 Eitzen Bulk A/S …. Appellants vs. Ashapura Minechem Ltd. & ANR. ..Respondents Civil Appeal No. 5136 of 2016 Ashapura …
Centralised ICAI exam checkers empanelment discontinued. No Appointment, asignment allotment and direct payments by Institute from May 2016 exams

Centralised ICAI exam checkers empanelment discontinued. No Appointment, asignment allotment and direct payments by Institute from May 2016 exams

May 13, 2016 ICAI
Centralised ICAI exam Checkers Empanelment Discontinued ICAI Announcement dated 12/05/2016 Assignments of Checkers The examination process inter alia includes a procedure of having the answer books checked, after evaluation by examiners, by Checkers to ensure that all answers have been evaluated, marks awarded have been carried forward to …
SOP-Pending Trade Mark Mediation Process. DSLSA Pilot Project for amicable settlement of opposition/ Rectification matters at Trade Mark Registry, Delhi

SOP-Pending Trade Mark Mediation Process. DSLSA Pilot Project for amicable settlement of opposition/ Rectification matters at Trade Mark Registry, Delhi

May 13, 2016 Trade Mark
SOP-Pending Trade Mark Mediation Process. DSLSA Pilot Project for amicable settlement of opposition/ Rectification matters at Trade Mark Registry, Delhi  STANDARD OPERATING PROTOCOL IN RESPECT OF MEDIATION PROCESS IN CASES PENDING BEFORE THE REGISTRAR OF THE TRADE MARKS, DELHI. STATEMENT OF OBJECTS & REASONS WHEREAS Delhi State Legal …
Insolvency and Bankruptcy Code 2016-Salient features of new law passed by Parliament. A Key innovation is four pillars of institutional infrastructure

Insolvency and Bankruptcy Code 2016-Salient features of new law passed by Parliament. A Key innovation is four pillars of institutional infrastructure

May 12, 2016 Finance Ministry
Insolvency and Bankruptcy Code 2016-Salient features of new law passed by Parliament. A Key innovation is four pillars of institutional infrastructure Finance Ministry Press Release dated 12/05/2016 Parliament passes the Insolvency and Bankruptcy Code Today is a historical day for economic reforms in India when the Rajya Sabha …
Income Declaration & Direct Tax Dispute Resolution Scheme 2016. Stakeholder’s views invited on issues requiring further clarification/guidance.

Income Declaration & Direct Tax Dispute Resolution Scheme 2016. Stakeholder’s views invited on issues requiring further clarification/guidance.

May 12, 2016 Income Tax
Income Declaration & Direct Tax Dispute Resolution Scheme 2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 12th May, 2016 Subject: The Income Declaration Scheme 2016 & The Direct Tax Dispute Resolution Scheme 2016. The Income Declaration Scheme, …
Should there be more than one ICAI Vice President ?

Should there be more than one ICAI Vice President ?

May 12, 2016 ICAI
Should there be more than one ICAI Vice President? This is one of the terms of reference of the group constituted by ICAI  for review of the existing term of the Council. The announcement of ICAI is as under: Council Affairs/M-626/2016 11th May, 2016 ALL MEMBERS OF THE COUNCIL …
No difference between gift and settlement for capital gain. Holding period of previous owner (settlor) transferring capital asset u/s 2(42A) to be counted

No difference between gift and settlement for capital gain. Holding period of previous owner (settlor) transferring capital asset u/s 2(42A) to be counted

May 12, 2016 Income Tax, ITAT, Judgments
No difference between gift and settlement for capital gains purposes. In a recent judgment, ITAT, Chennai has held that  there is no difference between a gift and settlement and for the purpose of computing capital gains, the holding period of the capital asset (Trade Mark) transferred,  the holding period …