Supreme Court held in Himalayan Cooperative Group Housing Society Vs Balwan Singh that the lawyers owe fiduciary duties to their clients, so they should act with the express consent of clients. Lawyers should not make any commitment without the consent of their clients and any commitment
ITAT New Delhi held in Simran Singh Gambhir Vs DDIT International Taxation that if the assessee had disclosed the income by mistake under wrong head of income and that mistake was bonafide then the same could not be treated as an undisclosed income and penalty u/s 271(1)( C) could not be levied.
New Delhi court held in PR. CIT Vs Control and Switch gear Contractors Ltd that if the assessee had disclosed the income in its return of income though wrongly disclosed it did not mean that the assessee had tried to hide its income so that wrongly disclosed income could not be considered as an undisclosed income and penalty u/s 271(1)( C) could not be levied.
The High Court of New Delhi has held in case of CIT-1 Vs Ansal Landmark Township P Ltd that second proviso to sec 40(a)(ia) will have retrospective effect from 01-04-2005 which means that if the assessee had forgot to deduct the TDS on payment
Economic slowdown across the globe is a concern for world & India is no more an exception. Economic slowdown is hitting the Indian Banking System very hard. As we all are aware that Non-Performing Assets are one of the biggest challenges faced by the Indian Banking System over the ages and numbers goes on increasing from year to year.
Keep Safe Custody of Certificate of Incorporation. ♥ Maintain copies of Incorporation Documents [Section 7(4)] The company shall maintain and preserve at its registered office copies of all documents and information as originally filed on incorporation till the dissolution of the Company. ♥ No. of Board Meeting [Section 173 and SS-1]
