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 …

12 Mistakes/Practices that would invite TDS/TCS Survey by Income Tax Department. Follow best practices to ensure proper compliance of TDS provisions The Income Tax Central Action Plan 2018-19 has set a target of at least 30 surveys/spot verifications by each Assessing Officer during the year. CPC (TDS) regularly …

CBDT issues Income Tax Central Action Plan 2018-19. 1250000 new return filers to be added The CBDT has issued the Central Action Plan (CAP) for 2018-19. The Action Plan lays down the deliverables, action points and time-lines in respect of Key Result Areas of the Income Tax  Department …

MRA / MoU between ICAI and CPA Ireland, BIBF Bahrain and NBAA Tanzania Cabinet approves the Mutual Recognition Agreement (MRA) / Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and : (a) The Institute of Certified Public Accountants, Ireland (MRA) (b) Bahrain Institute of …