Educational qualification and age limit for TRP relaxed, incentive increased, non-refundable deposit made compulsory as per Return Preparer (Amendment) Scheme, 2018 Government of India has designed the Tax Return Preparer Scheme (TRP Scheme) to assist small and medium taxpayers in preparation of their return of income and other …
Revised Standard on Auditing SA-720. The Auditor’s Responsibilities Relating to Other Information ICAI has issued revised Standard on Auditing SA-720. The Standard on Auditing (SA) deals with the auditor’s responsibilities relating to other information, whether financial or non-financial information (other than financial statements and the auditor’s report thereon), included …
No Addition for cash deposits in bank when sufficient cash is in hand. Assessee not supposed to keep track of notes withdrawn from bank and tally them with deposit made in bank account. ABCAUS Case Law Citation: ABCAUS 2173 (2018) (01) ITAT The Challenge/Grievance: The instant appeal was …
Concealment penalty deleted as assessee was unaware of tax on sale of property. Assessee agreed to pay taxes on the capital gain and paid the tax same date the assessment order was passed ABCAUS Case Law Citation: ABCAUS 2172 (2018) (01) ITAT The Challenge/Grievance: The main grievance of …
Deposits per se in the bank account no basis of holding that income has escaped assessment. Nothing can be added to or deleted from reasons recorded for reopening-ITAT ABCAUS Case Law Citation: ABCAUS 2171 (2018) (01) ITAT Important Case Laws Cited/relied upon by the parties: NTPC Ltd. vs. …
Insolvency and Bankruptcy Code 2016 to apply to personal guarantors to corporate debtors. Wilful defaulter, NPA Account holders, disqualified directors not eligible to be resolution applicant. The Government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2017 retrospectively and it shall be deemed to have come into …
