International Accounting Standards Board proposes annual improvements to four IFRS Standards The International Accounting Standards Board (Board) has published proposed narrow-scope amendments to four IFRS Standards as part of its maintenance and improvements of the Standards. Annual improvements are limited to changes that either clarify the wording in …

ITAT accepted explanation for cash deposits in bank account as there were only cash deposits in bank account and no visible sign of any business transactions ABCAUS Case Law Citation: ABCAUS 2958 (2019) (05) ITAT The only effective issue raised in the instant appeal was against the confirmation …

Cash deposited in bank after kept in hand for two years out of FDR maturity accepted as Revenue could not prove that such amount was spent elsewhere ABCAUS Case Law Citation: ABCAUS 2957 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. K. Sreedharan …

ITAT remanded case for non receipt of notice, says postal services are poor in rural areas. Sometimes the postman delivers the post and sometimes the post is returned by the post office. ABCAUS Case Law Citation: ABCAUS 2956 (2019) (05) ITAT This appeal was filed by the assessee …

AO had no jurisdiction to frame assessment when statutory notices issued at parental house and assessee was living at a different State. ABCAUS Case Law Citation: ABCAUS 2955 (2019) (05) ITAT The assessment proceedings u/s 147 of the Income Tax Act, 1961 (the Act) was initiated against the …

Agreement between India and Marshall Islands for exchange of information on tax matters Agreement between the Government of the Republic of India and the Government of the Republic of the Marshall Islands for the exchange of information relating to tax matters. India and Marshall Islands had, on 18th …