AO had inherent powers u/s 142(2C) to suo moto extend time for submission of special audit report directed u/s 142(2A), without an application by assessee – SC ABCAUS Case Law Citation: ABCAUS 2860 (2019) (04) SC Important Case Laws Cited/relied upon by the parties Sahara India v Commissioner …

Loss by shop burglary arisen during the course of business allowed u/s 37(1) even when Insurance company assessed loss at lower amount – ITAT ABCAUS Case Law Citation: ABCAUS 2859 (2019) (04) ITAT This appeal was filed by the assessee against the order of Commissioner of Income Tax …

Empanelment of Insolvency Professionals under SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 Securities and Exchange Board of India CIRCULAR SEBI/HO/RRD/RD1/CIR/P/2019/46 April 02, 2019 To, All Registered Insolvency Professional Agencies,All Registered Insolvency Professionals,All Recognised Insolvency Professional Entities. Madam/Sir, Subject: Empanelment of Insolvency Professionals …

Attachment of Property under PMLA and bonafide third party claim – High Court explain the law and Prerequisites for a valid claim   ABCAUS Case Law Citation: ABCAUS 2858 (2019) (04) HC In the instant case law, several appeals had been filed under Section 42 of the Prevention …

Supreme Court declares RBI Circular on revised framework for resolution of stressed assets ultra vires . All cases proceeded declared to be non-est ABCAUS Case Law Citation:ABCAUS 2857 (2019) (04) SC Important Case Laws Cited/relied upon by the parties RBI by Notification/circular dated 12.02.2018  had promulgated a revised …

“IBC takes 300 days, BIFR took 5-8 yrs”-IBBI denies news published by Business Standard quoting affidavit submitted in the NCLAT  The Business Standard recently published a news item stating that according to Chairman IBBI, the entire process of debt resolution under Corporate Insolvency Resolution Process (CIRP) takes nearly …