Condonation of delay in filing appeal due to illness-CIT(A) ought to have asked medical certificate and affidavit and admitted appeal and disposed it on merit – ITAT ABCAUS Case Law Citation: ABCAUS 2528 (2018) 09 ITAT The appellant assessee was aggrieved by the order of CIT(A) who had …

Mere deposit of cash in bank account cannot give rise to a belief of Assessing Officer that income had escaped assessment. ITAT quashed reassessment order ABCAUS Case Law Citation: ABCAUS 2527 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: National Thermal Power Co. Ltd. vs. …

Amendment to four Ind AS. AS 20, 12, 16, 38. The Companies (Indian Accounting Standards) Second Amendment Rules, 2018-MCA Notification MCA has amended the Companies (Indian Accounting Standards) Rules, 2015. The Indian Accounting Standard (Ind AS) that have been amended are as follows: Sl No. Ind AS 1. Ind AS 20 …

CIT not justified in disturbing consistent method of closing stock valuation by invoking revisionary jurisdiction u/s 263   ABCAUS Case Law Citation: ABCAUS 2526 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: United Commercial Bank vs. CIT (1999) 240ITR 355 (SC),  CIT vs. British Paints …

Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018. Consequential amendment to Rule 12A for DIN3 KYC late Fee

MCA reduces DIN KYC (DIR 3) Late Fee to Rs. 500/- from 21.09.2018 to 05.10.2018 and fee of rupees five thousand shall be payable on or after 06.10.2018 Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated 20th September, 2018 G.S.R. ……(E).-In exercise of the powers conferred …