RBI revises Long Form Audit Report (LFAR) – New formats applicable for audit period covering FY 2020-21 & onwards Keeping in view the large scale changes in the size, complexities, business model and risks in the banking operations, RBI had made a review of the LFAR formats, in …
RBI Releases Revised Priority Sector Lending Guidelines Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders. Reserve Bank of India (Priority Sector Lending – …
Mere surplus from exhibition not trade commerce or business activities u/s 2(15) making it non-charitable ABACUS Case Law CitationABCAUS 3386 (2020) (09) ITAT Important case law relied upon by the parties:Society of Indian Automobile Manufacturers vs. Income Tax Officer, (2016) 71 taxmann.com 138Assistant Commissioner of Income Tax vs. …
Taking a view should be backed by reasons in the order itself with evidences and independent enquiry. ITAT upheld revision order passed u/s 263 ABACUS Case Law CitationABCAUS 3385 (2020) (09) ITAT Important case law relied upon by the parties:Rampyari Devi Sarogi vs CIT (1968) 67 ITR 84 …
ITR 1 2 3 4 5 & 7 offline excel and java utilities for AY 2020-21 available for e-Filing. ITR 7 to be available shortly ITR offline utilities for AY 2020-21 available for e-Filing Utilities updated for calculations of 234B, 234C, 234A and as per the notification 35/2020 …
challenging service of notice u/s 143(2) is barred by operation of section 292BB as held by Hon’ble Supreme Court ABACUS Case Law CitationABCAUS 3384 (2020) (09) ITAT Important case law relied upon by the parties:CIT Vs. Laxman Das Khandelwal, 108 taxmann.com 183 (SC) In the instant case, the …
