HPSEBL invites application from CA firms for preparation of Accounting and other Manuals Himanchal Pradesh State Electricity Board Ltd. has invited application from interested chartered accountant firms and financial consultants for preparation and updating of the Accounting, Budget, Banking and Procurement Manual for HPSEBL. The applicants who desire …

ITAT quashed additions based on entries found in small diary found during search without any corroborative evidence. In a recent judgment, the ITAT Delhi quashed addition based on entries found in small diary found in the course of search without making any independent enquiry or any corroborative evidence. …

Director was not guilty of offence u/s 138 of NI Act in view of initiation of insolvency proceedings and moratorium order – Supreme Court In a recent judgment, the Hon’ble Supreme Court quashed the complaint case under Section 138 of Negotiable Instruments Act, 1881 against the director for …

CBDT issues FAQs relating to Revised Guidelines for Compounding of Offences under Income-Tax Act, 1961  CBDT has issued Circular on Frequently Asked Questions (FAQs) relating to Revised Guidelines for Compounding of Offences under Income-Tax Act, 1961 The revised Guidelines for Compounding of Offences under the Income-Tax Act, 1961 …

Reopening proceedings upheld though the notice u/s 148 wrongly stated that no return was filed as reopening was not based on non-filing of ITR In a recent judgment, Hon’ble Bombay High Court upheld the initiation of reopening proceedings u/s 147 where though the notice u/s 148A(d) wrongly stated …

Mere non response by assessee to show cause notice u/s 263 is not sufficient to justify revisionary order – ITAT In a recent judgment, ITAT Agra has held that mere non response by the assessee to show cause notice u/s 263 is not sufficient to justify revisionary order …