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Abcaus

IBBI

Panel of IPs recommended for appointment as IRP/Liquidator for Jan-June 2019

administrator December 31, 2018 bankruptcy
Panel of IPs recommended for appointment as IRP and Liquidator for the period from 1st January to 30th June 2019 IBBI has released the list of Panel of IPs recommended for appointment as IRP and Liquidator for the period starting from 1st January to 30th June 2019. The Panel …
condonation of delay

ITAT is expected to give findings on merits instead dismissing appeal on delay

administrator December 31, 2018 High Courts, Income Tax
Tribunal, being a fact finding Forum is expected to render its findings on merits instead of dismissing appeal on technical reason like delay, unless it is very huge and without any genuine reason ABCAUS Case Law Citation:ABCAUS 2691 (2018) (12) HC The assessee had filed this Appeal under …
Customs bonded Warehouses

Manufacture /other operations allowed for goods in public bonded warehouses up to 31.01.2019

administrator December 30, 2018 Excise/Custom
 Manufacture and other operations allowed for goods in public bonded warehouses up to 31st January 2019 Circular No.53 /2018-Customs F. No: 473/03/2017 -LC Govt. of India Ministry of Finance Dept. of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi Dated 28th December 2018 To, …
business income

Sale of property was not business income when not held as stock in trade nor related to business

administrator December 29, 2018 Income Tax, ITAT
Sale of property was not business income when not held as stock in trade neither was related to the business of the assessee. ABCAUS Case Law Citation: ABCAUS 2690 (2018) (12) ITAT Important Case Laws Cited/relied upon: Venkataswami Naidu & Co. vs. Commissioner of Income Tax 35 ITR …
limb of penalty

AO obliged to specify limb of section 271(1)(c) both at the time of initiation and levy of penalty.  

administrator December 29, 2018 Income Tax, ITAT
AO is under obligation to specify the limb of section 271(1)(c) at the time of initiation as well as at the time of levy of penalty.   ABCAUS Case Law Citation:ABCAUS 2689 (2018) (12) ITAT Important Case Laws Cited/relied upon:CIT Vs. Shri Samson PerincheryCIT Vs. Manjunatha Cotton and …
extension

Status of Petition filed in High Courts for extension of due date for audit / ITRs AY 2018-19

administrator December 29, 2018 Income Tax
Status of Petition filed in High Courts for extension of due date for audit ITRs for AY 2018-19. Gujarat, Delhi, Allahabad, Rajasthan and Keral High Court. CBDT has Extended ITR Tax Audit filing due date for AY 2018-19 to 31st October 2018. As per the order, liability to …

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