Computation of turnover for share/derivatives trading and applicability of Section 44AD. AO to either follow ICAI guidance note on tax audit or compute turnover based upon evidence on record – ITAT ABCAUS Case Law Citation: ABCAUS 2791 (2019) (02) ITAT According to the Guidance Note of ICAI on …

Startup Certification u/s 80-IAC & exemption u/s 56(2)(viib) of Income Tax Act- Govt. amends Startup Rules MINISTRY OF COMMERCE AND INDUSTRY(Department for Promotion of Industry and Internal Trade) NOTIFICATION New Delhi, the 19th February, 2019 G.S.R. 127(E).— This notification is being issued in supersession of the Gazette Notification …

Partners remuneration as allowable u/s 40(b)(v) in profit-sharing ratio. ITAT upheld the remuneration clause in the partnership deed ABCAUS Case Law Citation: ABCAUS 2790 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties Sood Brij & Associate Vs. CIT (2010)15 taxmnn.com 76 (Delhi) CIT vs. Vaish …

Clandestine removal of goods without payment of excise duty can not be alleged on the basis of bilties/GRs recovered from transporters without conducting any investigation. – HC ABCAUS Case Law Citation: ABCAUS 2789 (2019) (02) HC The respondent-assessee was a company registered under the Indian Companies Act and was …

200 % Custom Duty imposed on All goods originating in or imported from Pakistan after Pulwama terror attack. MINISTRY OF FINANCE(Department of Revenue) Notification No. 05/2019-Customs New Delhi, the 16th February, 2019 G.S.R. 124(E).—WHEREAS, the Central Government is satisfied that the import duty leviable on all goods originating in …

Question of ITC in Building Construction Material such as Angle, Cement, H.R. Sheets, Channel, Cylinder etc. under UPVAT – High Court admits Petition  ABCAUS Case Law Citation:ABCAUS 2788 (2019) (02) HC The respondent company had claimed Input Tax Credit (I.T.C.) in regard to the Building Construction Material such …