Prosecution u/s 276B set aside as intention of company was to deposit TDS, but due to bad financial condition the same was not deposited in time but later on In a recent judgment, The Session Judge set aside the prosecution u/s 276B and sentence of Rs. 25 lakhs …

CBDT amends Income Tax Rules / Form 56/10G regarding application for exemption u/s 10(23C) and 80G. Read CBDT Notification  MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 60/2019-Income Tax New Delhi, the 5th September, 2019 S.O. 3215(E).—In exercise of the powers conferred by the first …

Interest awarded in motor accident claim cases from the date of the Claim Petition till passing of award/judgment not taxable, being not an income. ABCAUS Case Law Citation:ABCAUS 3142 (2019) (09) HC Important case law relied upon by the parties:Rama Bai and ors. vs. Commissioner of Income Tax, …

Revised AoC-4 Non-XBRL form due to amendment of Schedule III of CA 2013 to be available soon without additional fee-MCA Advisory The Central Government has made further amendments to Schedule III to the Companies Act, 2013 vide Notification dated 11th October 2018. As per the said notification, Division …

Principles of law and legal position regarding exercise of revisionary powers u/s 263. ITAT explains the twin conditions as laid down by Supreme Court/ High Courts ABCAUS Case Law Citation:ABCAUS 3141 (2019) (09) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. CIT, 243 …

Reopening for escaped FDR income upheld when in original assessment profits was estimated only on contract income ignoring interest income ABCAUS Case Law Citation:ABCAUS 3140 (2019) (09) ITAT Important case law relied upon by the parties:ACIT vs. Rajesh Jhaveri Stock Brokers P. Ltd.’ 2007 291 ITR 500Raymond Woolen …