If business not closed down, expenses allowed u/s 37(1) even if turnover was low as it was temporary lull which assessee was trying to revive – ITAT ABCAUS Case Law Citation:ABCAUS 3113 (2019) (08) ITAT The instant appeal had been filed by the assessee against impugned order passed …

43 FAQs on Sabka Vishwas Legacy Dispute Resolution Scheme 2019 Chapter V of the Finance (No.2) Act, 2019 contains provisions regarding Sabka Vishwas (Legacy Dispute Resolution ) Scheme 2019. The Clauses 119 to 134 of Finance (No.2) Bill, 2019 contains the provisions related the Scheme. The Scheme aims …

Government notifies provisions of Part I, IV, VI & VII of Chapter VI of the Finance (No. 2) Act, 2019 (23 of 2019)  with effect from 9th day of August, 2019. MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 9th August, 2019 S.O. 2899(E).─In exercise of …

CA, CS & CMA qualified for appointment as arbitrator under The Arbitration & Conciliation Amendment Act 2019 The Arbitration and Conciliation (Amendment) Act, 2019 (the amended Act) has received the assent of the President on 9th August, 2019. The Arbitration and Conciliation Act, 1996 (the old Act) did …

Non profit company not a comparable for Transfer Pricing. ITAT directed AO to exclude it from the list of comparables to benchmark international transaction. ABCAUS Case Law Citation:ABCAUS 3112 (2019) (08) ITAT The appellant assessee was is a subsidiary of the parent company which operated travel website under …

ITAT authorised to consider question of jurisdiction raised first time and not raised earlier as it goes to the root of the matter and substantially affects the rights of assessee ABCAUS Case Law Citation:ABCAUS 3111 (2019) (08) ITAT Important case law relied upon by the parties:National Thermal Power …