ITAT erred in rejecting application for admission of additional evidence on the ground that application was not made either before the Assessing Officer or CIT (Appeals) In a recent judgment, Hon’ble Chhattisgarh High Court has held that ITAT committed grave legal error in rejecting the application for admission …

Appointment of Practicing Company Secretary Firm as Secretarial Auditor of Indian Overseas Bank Indian Overseas Bank has invited proposals from practicing Company Secretary Firm as Secretarial Auditor. As per Regulation 24A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended from …

Finding of ITAT that retracted statement cannot be termed as incriminating material not appealable before High Court In a recent judgment, Hon’ble Guwahati High Court has held that finding of the ITAT and CIT(A) that retracted statement cannot be termed as incriminating material not liable to be interfered …

Council Office/Head Office of ICMAI shifted to New Delhi from Calcutta The Institute of Cost and Works Accountants of India (ICMAI) was established on 28th May, 1959 by a special act of Parliament, namely, the Cost and Works Accountants Act, 1959 as a statutory professional body for the …

RFP invited for Appointment of empanelled Chartered Accountant Firm(s) for undertaking concurrent audit of the payments of benefits to subscribers under Unified Pension Scheme (UPS) The National Pension System Trust (hereinafter referred to as ‘NPS Trust’) invites bids for appointment of empanelled Chartered Accountant Firm(s) (hereinafter referred to …

Income tax penalty can not be imposed on the HUF which was no longer in existence and dissolved upon partition In a recent judgment, Hon’ble Calcutta High Court has held that income tax penalty can not be imposed on the HUF which was no longer in existence. Even …