CBDT further extends term of Task Force to draft a new direct tax law by a period of two months to submit its report by July 31, 2019 F No 370149/230/2017- Part (3) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL …
Commission paid to non-resident outside India for the services rendered outside India will not fall in the category of the income received for deemed or received in India as well as accrues or arises or is deemed to accrue or arise in India ABCAUS Case Law Citation: ABCAUS …
Penalty u/s 271B deleted for frequent change of Managing Director resulting delay in statutory audit causing delay in audit u/s 44AB within stipulated period. ABCAUS Case Law Citation: ABCAUS 2967 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Rajasthan Rajya Vidhyut Utpadan Nigam Ltd. vs. …
RBI releases draft circular on “Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies” for public comments The Non-Banking Financial Companies (NBFCs) play an important role in the financial system of the country, particularly in delivering credit to the last mile, including the retail as …
Allowing telescoping of surrendered income against bogus sundry creditors appearing in the books of accounts was wrong – ITAT ABCAUS Case Law Citation: ABCAUS 2966 (2019) (05) ITAT The instant appeal was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) in allowing …
Chartered flight travel by a charitable society enjoying tax benefit was an unreasonable expenditure. ITAT confirms addition for want of justification ABCAUS Case Law Citation:ABCAUS 2965 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties:Chiranjiv Charitable TrustIndraprastha Cancer Society 229 Taxmann 93 (Del)Lissie medical institutions vs. …
