Directions issued by Committee of experts on regulating Audit firms and the Networks as per its report submitted in pursuance of  directions of the Supreme Court (i) The Union of India may constitute a three member Committee of experts to look into the question whether and to what extent the …

Provision for submission of ICAI election nomination forms in multiple not required. High Court directs ICAI to consider its discontinuance. Failure to sign the undertaking is a defect of substantial character not a technical one. ABCAUS Case Law Citation: ABCAUS 2619 (2018) (11) HC Important Case Laws Cited/relied upon: …

Directors equally responsible for furnishing of return of company as is the managing director. High Court declines to interfere prosecution u/s 276CC ABCAUS Case Law Citation: ABCAUS 2618 (2018) (11) HC Important Case Laws Cited/relied upon: Sasi Enterprises v. Assistant Commissioner of Income Tax (2014) 5 SCC 139 …

Demonetisation-Worst is yet to come says Manmohan Singh. Arun Jaitely says confiscation of currency was not the objective, relies on tax collections to defend BJP Government On second anniversary of demonetisation, congress party has criticised the demonerisation saying it a scam by BJP. The economist and the former …

Difference in cash deposits in bank and turnover declared in VAT return treated as income u/s 69A. High Court upheld the addition ABCAUS Case Law Citation: ABCAUS 2617 (2018) (11) HC The appellant had filed the instant appeal with the Hon’ble High Court against the order passed by …

ITAT explain the expression wholly and exclusively used in section 37.  ‘Wholly” relates to quantification and “exclusively” refers to the motive, objects and purpose of the expenditure. ABCAUS Case Law Citation: ABCAUS 2616 (2018) (11) ITAT The appellant assessee was in appeal before the Tribunal against order of …