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 …

TDS on payments to non-residents applicable at rates prescribed under DTAAs, not 20 per cent. Section 206AA not override provisions of Section 90(2) – ITAT ABCAUS Case Law Citation: ABCAUS 2615 (2018) (11) ITAT Important Case Laws Cited/relied upon: Azadi Bachao Andolan vs UOI (2003) 263 ITR 706 …

MCA proposes more amendments to Companies Act 2013. Unspent amount of CSR to be transferred to a Special Account and spend within three financial years Pursuant to the recommendations made by “Committee to review the offences under the Companies Act, 2013”, the Companies (Amendment) Ordinance, 2018 has been promulgated …