If accounts are audited AO has to explain the rejection of profit with sufficient clarity. When there are audited accounts of an entity and the calculation of the GP ratios hinges upon their analysis, the AO should not lightly undertake an exercise that would amount to negating those …

Limitation period for revision Petition 264 starts with service of intimation u/s 143(1) and not from the date when assessee comes to know about the processing of the return – High Court The expression ‘the date on which he otherwise came to know of it’ as per section …

Rejection of technical bid due to curable defect of missing notary stamp on some of the tender documents held as untenable and bad in law. The Bidder acted in a capricious manner resulting in discrimination. Delhi High Court  ABCAUS Case Law Citation: ABCAUS 2009 (2017) (07) HC The …

Amended Rules for Shifting of companies registered office within state or from from one state to another. Companies Incorporation 2nd  Amendment Rules 2017. Intimation to Chief Secretary of the State/UT now mandatory. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 27th Juty, 2017 G.S.R… (E)- In exercise …

Exporter eligible for refund of Compensation Cess paid on goods exported on similar lines as refund of IGST under section 16(3) (b) of the IGST, 2017 Circular No.1 /1/2017-Compensation Cess F.No.354/136/2017-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** New Delhi, Dated 26th …

Allowable investments by NRIs as FDI and on stock exchange as per Foreign Exchange Management Regulations. Statistics for last three years Press Information Bureau  Government of India Ministry of Finance 28-July-2017 15:42 IST Investments by NRIs as FDI and in stock changes  Non-Resident Indians (NRIs) can invest in …