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Abcaus

coercive steps

No coercive steps for recovery of disputed tax amount as the Tribunal were non functional

administrator November 11, 2018 High Courts, Income Tax
Income Tax Department prevented to take coercive steps for recovery of disputed tax amount as the Tribunal at Allahabad and Varanasi were non functional ABCAUS Case Law Citation: ABCAUS 2622 (2018) (11) HC Several appeals of the petitioner(s) for the various assessment years were pending before the Income …
objection

High Court directed AO to decide objections before re-assessment as per law laid down by Supreme Court

administrator November 11, 2018 High Courts, Income Tax
AO directed to decide objections before making re-assessment as per law laid down by Supreme Court in the case of GKN Driveshafts (India) Limited ABCAUS Case Law Citation: ABCAUS 2621 (2018) (11) HC Important Case Laws Cited/relied upon: GKN Driveshafts (India) Limited Vs. Income Tax Officer (2003) 259 …
MSME

Central Govt. / PSU minimum MSME procurement limit increased to 25% with quota for women owned MSME

administrator November 10, 2018 MSME
Central Govt. and PSU minimum procure limit from MSME increased to 25% in 3 years out of which 3 per cent earmarked for women owned MSME. Read Notification MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES ORDER New Delhi, the 9th November, 2018 S.O. 5670(E).—In exercise of powers conferred …
arrest

CBI arrested Assistant Commissioner of GST and a Chartered Accountant for alleged bribery

administrator November 10, 2018 GST
CBI arrested an Assistant Commissioner of GST and a Chartered Accountant for alleged criminal conspiracy involving bribery As reported in FIR lodged by the CBI, the Assistant Commissioner (AC), Goods and Service Tax (GST), Enforcement Wing, Delhi had conducted a survey cum seizure operation against a party. During …
ibbi

Remuneration of part-time member of IBBI increased to Rs. 6000 for each meeting attended

administrator November 10, 2018 bankruptcy, MCA
Remuneration of part-time member of IBBI increased to Rs. 6000 from Rs. 1000/- for each meeting of the Board attended by the member. Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Services of Chairperson and Members) Second Amendment Rules, 2018 MINISTRY OF CORPORATE …
rectification u/s 154

Reducing depreciation rate not debatable issue to invoke section 154 for rectification

administrator November 10, 2018 Income Tax, ITAT
Reducing depreciation rate not debatable issue to invoke section 154 for rectification. Error discovered from records constitute apparent error ABCAUS Case Law Citation: ABCAUS 2620 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs. Dr. K.R. Jayachandran (212 ITR 637) CIT vs. dr. B. Venkata Rao (2000) …

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