RBI issues revised Prudential Framework for Resolution of Stressed Assets Hon’ble Supreme Court, vide its order dated April 2, 2019, had held the RBI circular dated February 12, 2018 on Resolution of Stressed Assets as ultra vires. In light of the same, the RBI Governor had clarified that the Reserve Bank …

MCA & SEBI enter into MOU to tighten regulatory oversight by sharing of data and information to keep surveillance on Corporate Frauds affecting economy Ministry of Corporate Affairs Press Release A formal Memorandum of Understanding (MOU) was signed between the Ministry of Corporate Affairs (MCA) and the Securities …

EOI for empanel under Insolvency Professionals to act as IRP and Liquidators.Step by Step Guide for submission of online EOI. Last date is 15th June 2019 Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 Dated: 7th June, 2019 To, All Registered Insolvency …

Disallowance of entire expenditure on school running was arbitrary and unreasonable. AO was directed to estimate  income @20% of gross receipts ABCAUS Case Law Citation:ABCAUS 2996 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Dhakeswari Cotton Mills Ltd. Vs. CIT (1954) 26 ITR 775 (SC)Vidyodaya Educational …

ITAT directed AO to give telescopic benefit for chit contributions as there was no finding that income estimated from business was invested else where ABCAUS Case Law Citation: ABCAUS 2995 (2019) (06) ITAT The only grounds of appeal raised by the assessee in the instant appeal was related …

On rejection of approval u/s 10(23C) no bar in making fresh application, treating application of the assessee as non-est was unjustifiable ABCAUS Case Law Citation: ABCAUS 2994 (2019) (06) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Exemptions) on …