Madras High Court held that as an appeal is already filed which is still pending and statutory pre-deposit amount paid by the petitioner, VAT authorities cannot recover further sum from petitioner’s bank account or from any other source till statutory appeal is disposed of on merits.
ITAT Chennai held that as cash deposited by assessee received from petty shop owners on account of sale of its product during demonetization period was not examined by AO during assessment. Accordingly, PCIT rightly passed revision order u/s 263 directing AO to carry out necessary verification.
ITAT Jaipur held that disallowance of expenses per se cannot mean that the assessee has furnished incorrect particulars of income. Accordingly, penalty under section 271(1)(c) of the Income Tax Act not leviable.
ITAT Hyderabad held that penalty under section 271(1)(c) of Income tax Act cannot be cancelled merely because of non-specification of limb i.e., for concealment of income or furnishing inaccurate particular of income under which penalty is levied.
Orissa High Court held that while exercising suo motu revisional power u/s. 263 of the Act, the CIT cannot travel beyond the scope of the issues which form part of the ‘limited scrutiny’ in the original Assessment Order.
Patna High Court held that petitioner is duly entitled for at least 5% Simple interest on delayed payment of pension and gratuity.
Section 148 and Section 134 of the Companies Act 2013 both deal with responsibility of directors regarding the maintenance of cost records.
Ethics is derived from the Greek word- ETHIKOS which means Character. The concept of ‘ethics’ was introduced by Socrates, and defined as a philosophical discipline by Aristotle.
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Central Government hereby establishes a Centre for Processing Accelerated Corporate Exit (C-PACE). C-PACE shall be located at Indian Institute of Corporate Affairs (IICA), Plot No. 6, 7, 8, Sector 5, IMT Manesar, District Gurgaon (Haryana), Pin Code – 122050.
