Rejection of books of account for non inclusion of freight and cartage in the value of the closing stock had distorted the correct figure of profit. Therefore, the AO was within his right to reject the books of accounts u/s 145(3) ABCAUS Case Law Citation: ABCAUS 2547 (2018) …

Government constitutes Competition Law Review Committee to review the Competition Act passed in 2002.  Government constitutes Competition Law Review Committee to review the Competition Act  In pursuance of its objective of ensuring that Legislation is in sync with the needs of strong economic fundamentals, the Government has constituted a …

UP Government to form new committee to deal cases where GST Tran-1 could not be filed on last date i.e. 27.12.2017 due to technical glitches in GSTN The Uttar Pradesh Government to form a new committee to take care of the individual cases where the dealers could not …

New changes / improvements made in the E- Way Bill (EWB) generation form from 1st of Oct. 2018.  Enhancements in E-Way Bill Form Following are the enhancements done in the EWB generation Form from 01.10.2018: 1. Display of only relevant document types in “Document Type” drop down list …

Disallowance u/s 40A(3) for cash payments to wife for house purchase deleted by ITAT when plea of the assessee was not disputed ABCAUS Case Law Citation: ABCAUS 2545 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Crescent Export Syndicate The case of the …

Bank branch TDS deposit and return filed by zonal office. AO treated branch as assessee in default. ITAT remanded matter to AO for verification ABCAUS Case Law Citation: ABCAUS 2544 (2018) 09 ITAT The appellant assessee was a branch of a Nationalised Bank. The bank branch had deducted …