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Abcaus

Money Laundering

Proof of address of prisoner in a jail under PMLA Maintenance of Records Rules

administrator May 29, 2019 Prevention of Money Laundering Act 2002
Proof of address of individual prisoner in a jail – Amendment to PMLA Maintenance of Records Rules  MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th May, 2019 G.S.R. 381(E).—In exercise of the powers conferred by sub-section (1) read with clauses (i), (jjj) and (k) of …
concealment penalty

Penalty u/s 271(1)(b) deleted as assessment was framed u/s 143(3) proving cooperation from assessee

administrator May 28, 2019 Income Tax, ITAT
Penalty u/s 271(1)(b) deleted when assessment was framed u/s 143(3) proving that the assessee had cooperated in the assessment proceedings ABCAUS Case Law Citation: ABCAUS 2972 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Pramila Kumari Vs DCIT (2011) 49 CCH 0401 In the instant …
RBI

RBI extends RTGS Timings for Customer Transactions from 4:30 pm to 6:00 pm from 1st June 2019

administrator May 28, 2019 RBI
RBI extends RTGS Timings for Customer Transactions from 4:30 pm to 6:00 pm from 1st June 2019 Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions As per RBI notification, timings for customer transactions (initial cut-off) in RTGS shall be extended from 4:30 pm …
capital gain

Deduction u/s 54F for house purchased from father in law allowed

administrator May 28, 2019 Income Tax, ITAT
Deduction u/s 54F for house purchased from father in law allowed when he was assessed to long term capital gain with reference to sold house ABCAUS Case Law Citation: ABCAUS 2971 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: In this appeal, the assessee had …
arrest

SC dismisses SLP against arrest under GST Act- ITC scam by fake invoices threat to GST Law, said HC

administrator May 28, 2019 GST, Supreme Court
Arrest under GST Act for ITC scam by fake invoices – Supreme Court dismisses SLP. High Court had held that such acts are threat to the very implementation of a law within a short duration of its inception. ABCAUS Case Law Citation: ABCAUS 2970 (2019) (05) SC The …
Prohibition Benami Property

Conditions of services of Members of Adjudicating Authority Rules under Benami Act

administrator May 28, 2019 Benami
The Prohibition of Benami Property Transactions (Conditions of services of Members of Adjudicating Authority) Rules, 2019 MINISTRY OF FINANCE (Department of Revenue)

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