TDS credit on conflict of cash and accrual accounting. ITAT following High Court allowed proportionate TDS when TDS only was offered to tax The appellant assessee had filed the instant appeal contesting the order of the Commissioner of Income-Tax (Appeals) confirming inter alia the TDS credit restricted by …

ICAI FAQ on Revised SA 570 Going Concern Applicable for audits of financial year 2017-18 Frequently Asked Questions on SA 570 (Revised) ‘Going Concern’ (Applicable for audits of financial year 2017-18) ICAI had issued Revised SA 570-Going Concern along with other Standards, SA 700 (Revised), SA 701, SA 705 …

Task Force to submit draft of new direct tax law by 22nd August, 2018.  Extension of the term by three months beyond the initial term of six months. In order to review the existing Income-tax Act, 1961 and to draft a new direct tax law in accordance with economic needs …

Supreme Court declines to quash goods seizure order under UP GST Act when Assistant Commissioner had sufficient reasons to pass the order.  ABCAUS Case Law Citation: ABCAUS 2345 (2018) (05) SC Vacation Bench of the Supreme Court has declined to interfere with the order passed by the Allahabad High …

Not referring objections of the assessee to DVO and passing order was clearly denial of principles of natural justice. ITAT deleted addition and remanded the case ABCAUS Case Law Citation: ABCAUS 2344 (2018) (05) ITAT The assessee was an individual. During the course of assessment proceedings, it was …

Prosecution u/s 420 of IPC disentitles benefit of IDS-2016 as scheme not apply to prosecution of any offence punishable under Chapter IX or Chapter XVII of the IPC-High Court ABCAUS Case Law Citation: ABCAUS 2343 (2018) (05) HC By the Finance Act, 2016 Government came with a scheme …