Two Gujarat based companies notified as recognised stock exchange for derivative transaction not to be treated as speculative transaction Section 43(5) of the Income Tax Act, 1961 defines a “speculative transaction” as the one in which a contract for the purchase or sale of any commodity including stocks …

ITAT has power u/s 254 to order fresh enquiry either suo motu or on grounds raised. For justice to be done, truth must prevail-High Court ABCAUS Case Law Citation: ABCAUS 2455 (2018) 08 HC The instant appeal had been filed by the Appellant Assessee challenging the order passed …

CIT can not substitute his view over the view taken by AO in the revisionary jurisdiction u/s 263 as AO took one of the possible view ABCAUS Case Law Citation: ABCAUS 2454 (2018) 08 ITAT The instant appeal was filed by the assessee against CIT in invoking the …

AO cannot remain quiet after issuing summons u/s 131 which went unanswered. Without resorting to further investigation no adverse inference could be drawn. ABCAUS Case Law Citation: ABCAUS 2453 (2018) 08 ITAT The instant appeal was filed by the assessee against the order passed by CIT(A) in upholding …

Draft Companies (Cost Records and Audit) Amendment Rules 2018 to incorporate GST related changes. Suggestions/comments invited Government of India Ministry of Corporate Affairs Notice inviting comments on the draft Companies (Cost Records and Audit) Amendment Rules, 2018 Dated: 6th August, 2018 Pursuant to introduction of GST, the Companies …

Please not that RCM provisions under section 9(4) of CGST Act 2017 (as amended) are not applicable despite the Notification No. 8/2017 being rescinded. Read More …Click Here >> GST reverse charge exemption extended to 30.09.2019 for goods purchased from unregistered dealers- Download Notifications Notification No. 22/2018–Central Tax (Rate) …