When ITAT inspected documents furnished in response to show-cause notice u/s 263 and found transactions not bogus, no interference was called. Supreme Court dismissed SLP of the Revenue ABCAUS Case Law Citation: ABCAUS 2729 (2019) (01) SC Important Case Laws Cited/relied upon: The Revenue had filed an Income …

Malba charges was rejected as cost of investment for claiming deduction u/s 54F as there was no occasion for purchasing malba – ITAT ABCAUS Case Law Citation: ABCAUS 2728 (2019) (01) ITAT The Assessee had challenged the order passed by the CIT(A) in confirming in confirming the action …

No penalty u/s 271D for cash loans taken to meet financial liabilities of a closed business as it constituted a reasonable cause under section 273B – ITAT ABCAUS Case Law Citation: ABCAUS 2727 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming …

Statutory liability accrues on issuance of demand notice-ITAT deleted disallowance u/s 43B and allowed payment of Local Body Tax in the year of payment ABCAUS Case Law Citation: ABCAUS 2726 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming the disallowance made …

IBBI constitutes a Working Group to recommend regulatory framework to facilitate insolvency resolution and liquidation of corporate debtors in a Group Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 File No: IBBI/CIRP/GI/2018-19/001                                                              17th January, 2019 Office Order Subject:  Constitution of Working Group on …

ICAI Revised 2019 edition of the Guidance Note on Audit of Banks  Section A – Statutory Central Audit. The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board (AASB) of ICAI every year which provide the detailed and updated guidance to the …