Section 50C of not apply to transfer of leasehold right in plot of land – ITAT allowed appeal following High Court order ABCAUS Case Law CitationABCAUS 3429 (2020) (12) Important case law relied upon by the parties:CIT vs. Greenfield Hotels and Estates Pvt. Ltd 89 ITR 68Noida Cyber …
Refund of excess fee paid for delay in filings under regulation 40B of IBBI CRIP Regulations 2016 According to sub-regulation (4) of regulation 40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations), a fee has to be paid for delay after 1st October, …
ICAI reschedules CA Foundation Examination Paper-1 from 8th Dec to 13th December 2020 According to ICAI, due to unavoidable circumstances, the Chartered Accountants Foundation Examination, Paper –1, Principles and Practice of Accounting has been extended. The said CA exam was scheduled to be held on 8th December 2020, …
No provision exists for disallowance of expenditure in the interest of Revenue and to avoid the leakage of revenue – ITAT ABCAUS Case Law CitationABCAUS 3428 (2020) (12) In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made by …
RBI forbids banks to make dividend payment for the financial year ended March 31 2020. In 2005, the Reserve Bank of India ( RBI ) reviewed the policy approach with regard to payment of dividends by bank shifting the regulatory focus from the ‘quantum of dividend’ to the …
CBDT issues 34 new FAQs on Vivad se Vishwas Act. Read Circular no. 21 of 2020 CBDT 34 new FAQs on Vivad se Vishwas The Direct Tax Vivad se Vishwas Act, 2020 (Vivad se Vishwas Scheme) was enacted on 17th March, 2020. The provisions of Vivad se Vishwas …