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Abcaus

donations

Unspent amount of donations shown as current liabilities not income if received with stipulation to their use – HC

administrator June 19, 2018 High Courts, Income Tax
Unspent amount of donations shown as current liabilities not income if received with stipulation to their use by the Charitable Trust-High Court ABCAUS Case Law Citation ABCAUS 2377 (2018) 06 HC The instant appeal was filed by the Revenue u/s 260-A of the Income Tax Act 1961against the …
MCA Notification

Companies Accounting Standards Amendment Rules 2018. AS 11-Disposal of a Non-integral Foreign Operation

administrator June 19, 2018 Companies Act
Companies Accounting Standards Amendment Rules 2018-AS-11. Disposal of a Non-integral Foreign Operation by repatriation of accumulated profits not form part of a disposal unless constitutes return of the investment Ministry of Corporate Affairs NOTIFICATION New Delhi, the 18th June, 2018 G.S.R...…. (E).-
chartered accountant misconduct

ICAI bans CA guilty of professional misconduct, removes name from Register of Members for a year

administrator June 18, 2018 ICAI
ICAI bans CA guilty of professional misconduct, removes name from the Register of Members for one year for non exercising due diligence/grossly negligent THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 15th June, 2018 (CHARTERED ACCOUNTANTS) No. PR-52/10-DD-72/10/DC/315/2014.—In …
Supreme Court judgment

NCLT has no power to direct deposit as precondition for hearing appeal-Supreme Court 

administrator June 18, 2018 Companies Act, Supreme Court
NCLT has no power to direct deposit as precondition for hearing appeal. No jurisdiction to dismiss appeal itself for failure to make deposit against condition of stay-SC  ABCAUS Case Law Citation ABCAUS 2376 (2018) 06 SC The appellant partnership firm participated in two tenders and it was L-II …
Electronic sealing

Electronic sealing-deposit in and removal of goods from customs bonded Warehouses – Circular

administrator June 18, 2018 Excise/Custom
Electronic sealing-deposit in and removal of goods from customs bonded Warehouses. Data elements and procedure to be used under Warehousing Regulations Circular No. 19 I 2018- Customs F.No: 484/3/2015- LC (Vol II) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs …
sale deed

Date of transfer of immovable property is when sale deed is executed and not when recorded by Registrar

administrator June 18, 2018 Income Tax, ITAT
Date of transfer of immovable property is when sale deed is executed and not when it is recorded by the Registrar. ITAT deletes addition u/s 56(2)(vii)(b) The instant appeals were filed by the assessee against the order of the CIT(A) confirming the action of assessing officer (AO) in …

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