Penalty u/s 271(1)(c) for inadvertently not showing salary from second employer deleted as assessee suo moto recalculated and paid the tax along with interest ABCAUS Case Law Citation: ABCAUS 2908 (2019) (05) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income …

Expenditure on advertisement and brand promotion allowed in the year in which incurred wholly and exclusively for the purposes of business ABCAUS Case Law Citation: ABCAUS 2907 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Madras Industrial Investment Corporation Ltd. v. CIT 225 ITR 802 …

RBI invites application for Scholarship Scheme for Faculty Members from Academic Institutions for undertaking short term research The Reserve Bank of India invites application as per prescribed format from full-time faculty members, teaching economics or finance in any University Grants Commission (UGC) or All India Council for Technical Education …

Dismissing appeal ex-parte by CIT(A) on very first date of hearing without giving proper opportunity to the assessee to prepare the case was unjustified – ITAT ABCAUS Case Law Citation: ABCAUS 2906 (2019) (05) ITAT The appeal by Assessee was directed against the Order of the CIT(A) whereby …

Company Secretaries to declare PAN / Aadhaar (optional) while making online payment of annual membership fees /applying for ICSI Fellow membership Advisory for Members of ICSI Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online …

Media report of reduction in numbers of e-filed ITR during FY 2018-19 incorrect says Finance Ministry.  e-filing of Income Tax Returns registers an increase of 19%. There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns (ITR) e-filed during Financial Year …