NCLT could have decided fee and expenses of RP only on basis of material before it In a recent judgment, NCLAT held that NCLT could have decided fee and expenses of Resolution Professional to be paid by Financial Creditor only on the basis of material before it. ABCAUS …

No disallowance of late deposit of PF/ESI can be made without affording opportunity to assessee to show that the said payments were made within time In a recent judgment, Hon’ble Allahabad High Court remanded disallowance of late deposit of PF/ESI made without affording opportunity to assessee to show …

New of penalty for maintaining accounts in more than one bank is fake – PIB Factcheck A misconception is being spread in some articles that according to the new guidelines of the Reserve Bank of India, now a penalty will be imposed for maintaining accounts in more than …

Cash surrendered during survey not covered by deeming provisions of section 69 and 69A – ITAT In a recent judgment, ITAT Amritsar has held that excess cash found and surrendered during survey was not covered by deeming provisions of section 69 and 69A hence not taxable at higher …

NABARD invites applications from CA/CS/ICWA for the post of Assistant Manager in Grade-A. Last date to apply is 15.08.2024 Applications are invited from Indian citizens for the post of Assistant Manager in Grade ‘A’ in the Rural Development Banking Service (RDBS) /(Rajbhasha) Service in National Bank for Agriculture …

Extrapolation of income of two months to arrive at income of the full year was not justified – ITAT In a recent judgment, ITAT Chandigarh has deleted the addition to income holding that extrapolation of income of two months adopted by the AO for arriving at income of …