Employee of IRCTC entitled to full exemption of leave encashment u/s 10(10AA)(i) being employed with Central Government company. In a recent judgment, ITAT has held that an employee employed with IRCTC Limited is entitled to 100 percent exemption of leave encashment u/s 10(10AA)(i) being employed with Central Government …

Exemption u/s 54EC allowed as delay in investment in REC Bonds was due to father of the assessee in ICU  In a recent judgment, ITAT as allowed the benefits of investment made in REC Bonds u/s 54EC where delay was caused due to father of assessee was in …

Non-response by payee to statutory notice u/s 133(6) directly issued by AO, is not within reach and control of assessee – ITAT In a recent judgment, ITAT has held that non-response by a payee to statutory notice u/s 133(6) directly issued by AO, is not within reach and …

It is not open for CIT(A) to introduce a new source of income. ITAT deleted addition made section 69A changing the section 68. and the assessment has to be confined to those items of income which were the subject of matter of original assessment  In a recent judgment, …

Income returned under other sources can not be recharacterised as income u/s 69A and subjected to higher tax u/s 15BBE – ITAT In a recent judgment, ITAT has held that Income returned by the assessee under the head income other sources can not be recharacterised as income u/s …

ICAI issues revised SA 800 (Revised), SA 805 (Revised), SA 810 (Revised) Standards on Auditing prescribe the detailed auditing framework for conducting audits of financial statements of various entities. These Standards contain various audit requirements and related application guidance to explain these requirements. Auditors need to comply with …