Banks to preserve CCTV recordings from 08-11-2016 to 30-12-2016 for action in illegal accumulation of new currency notes-RBI Reserve Bank of India Preservation of CCTV recordings RBI/2016-17/181 DCM (Plg) No. 1712/10.27.00/2016-17 December 13, 2016 The Chairman & Managing Director Chief Executive Officers All Banks Dear Sir, Preservation of …
Additions ignoring peak credit amounts to double taxation if there is no material to show cash withdrawals could not have been re-deposited-ITAT ABCAUS Case Law Citation: ABCAUS 1082 (2016) (12) ITAT Brief Facts of the Case: The Assessing Officer (AO) found that the assessee had not disclosed one …
Axis Bank Licence Cancellation rumours for allegations of serious irregularities in deposit/exchange of Specified Bank Notes denied by RBI Date : Dec 12, 2016 RBI denies Rumours on Axis Bank The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking …
Bank to mention old-new currency deposits in counterfoils and educate customers to fill-up cash deposit slips showing old or new currency with denomination – Finance Ministry The Ministry of Finance through a letter to all the MDs &CEOs/CMDs of PSBs and Chairman, IBA directs that all the bank branches …
Peak Credit theory additions apply for unexplained cash deposits or where assessee fails to give satisfactory explanation and amount is sought to be added u/s 68 69-ITAT ABCAUS Case Law Citation: ABCAUS 1081 (2016) (12) ITAT Important Case Laws cited: CIT vs. K. Chinnatharmban (292 ITR 682)(SC) Manoj …
ICAI KYC Norms mandatory for practicing CAs for all assignments pertaining to attest functions of all type of clients w.e.f 01-01-2017 ICAI ANNOUNCEMENT OF KYC NORMS All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has …
