Section 50C not applicable to sale of property through Power of Attorney. Provisions at best could be invoked only in the hands of the original owner-ITAT  ABCAUS Case Law Citation: ABCAUS 2426 (2018) 07 ITAT The instant appeal had been filed by the assessee against the order of …

RBI to Issue New Design Rs. 100 Denomination Banknote The Reserve Bank of India will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” …

Ministry of Corporate Affairs (MCA) invites applications from Chartered Accountants (CAs) having 2 to 5 years of post-qualification experience at 41 locations  The selected candidates will be engaged as Consultant in the MCA Offices located all over India in compliance, Investigation and inspection related areas of work. The …

Denial of Section 54F exemption for quoting wrong section without examining merits of deduction claimed-ITAT remands the case to Assessing Officer   ABCAUS Case Law Citation: ABCAUS 2425 (2018) 07 ITAT The instant appeal had been filed by the assessee against the order of the CIT(A) upholding  the …

Non-mentioning the precise section for making addition for bogus purchase made the impugned addition bad in law – ITAT deletes the addition  ABCAUS Case Law Citation: ABCAUS 2424 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of CIT(A) in confirming the action …

Supreme Court stays applicability of ESI to construction site workers/labour In a recent order, the Supreme Court has stayed the applicability of ESI to construction site workers/labour which was made applicable from 01.08.2015 ABCAUS Case Law Citation:2423 (2018) 07 abcaus.in SC The Employees State Insurance Corporation had issued …