Judgments

  • Chartered Accountants

ICAI removes name of Hyderabad CA for three months for issuing wrong turnover certificate for participating in tender

ICAI removes name of Hyderabad CA for three months for issuing wrong turnover certificate for participating in tender. Appellate Authority…

6 years ago
  • Chartered Accountants

ICAI bans Delhi based CA for 6 months for certifying share premium amount to bank based on Board Resolution only

ICAI bans delhi based CA for 6 months for certifying non-existent share premium amount of the company to the bank…

6 years ago
  • Income Tax

Deduction for Penal excise was allowed u/s 37 as it was paid to indemnify department for violating terms of affidavit

Deduction for Penal excise was allowed u/s 37 as it was paid in discharging contractual obligation to indemnify department for…

6 years ago
  • Chartered Accountants

Supreme Court direct Govt to constitute Committee to regulate Multi-National Accounting Firms like PWC

Supreme Court direct Govt to constitute Committee to suggest changes in Law to discipline and regulate Multi-National Accounting Firms like…

6 years ago
  • Sales Tax

Sales tax refund was payable on price revision of LPG cylinders by Ministry-Supreme Court

Assessee entitled to sales tax refund under Rajasthan Sales Tax Act, 1994 on price revision of LPG cylinders by ministry as the price…

6 years ago
  • Income Tax

Deemed dividend upheld when amount was parked in long term investments and could not be in the course of business

Deemed dividend upheld when amount was parked in long term investments and hence could not qualify as to be made…

6 years ago
  • Income Tax

Section 47A(3) can be invoked only if benefit u/s 47 is claimed-High Court upheld deletion of royalty paid on takeover

Section 47A(3) can be invoked only if benefit u/s 47 is claimed. High Court uphelds deletion of payment of brand…

6 years ago
  • Income Tax

Expenses prior to setting up or running of business are capital in nature-High Court

Expenses prior to setting up or running of business are capital in nature-High Court upheld ITAT order allowing capitalisation of…

6 years ago
  • Income Tax

Lease equalization charges are deductible in computing book profit-High Court

Lease equalization charges are deductible in computing book profit. Provisions for NPA are also not need to be added back-High…

6 years ago
  • Income Tax

Activities of animal care is advancement of object of general public utility u/s 2(15)-High Court

Activities of animal care is advancement of object of general public utility. Society was entitled to benefit of Section 80G…

6 years ago