Since AO had not considered revised return of income which was filed within prescribed period of limitation for the difference between income disclosed in return and total receipts as per Form 26AS, therefore, the matter was remanded back to AO with direction to verify the fact and grant relief to assessee in accordance with law.
♦ Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost. ♦ Increased investments in Public Health and other health reforms to prepare India for future pandemics.♦ Technology Driven Education with Equity post-COVID. ♦ Further enhancement of Ease of Doing Business through IBC related measures.
Since neither AO conducted any enquiry nor had brought any clinching evidences to disprove the evidences produced by assessee and assessee had furnished all details including bank statement, share brokers note, ledger account copies, share certificates, in support of purchase and sale of shares and mode of payment and receipts of proceeds thus, no addition could be made under section 68 as AO had merely relied on investigation wing report without disputing vortex of evidences furnished by assessee.
a. There will be fast tracking of investment clearance through Empowered Group of Secretaries. b. Project Development Cell will be constituted in each Ministry to prepare investible projects, coordinate with investors and Central/State Governments. c. There will be ranking of States on investment attractiveness to compete for new investment. d. Incentive schemes for promotion of new champion sectors will be launched in sectors such as solar PV manufacturing; advanced cell battery storage etc.
India’s overall exports (Merchandise and Services combined) in April 2020* are estimated to be USD 27.96 billion, exhibiting a negative growth of (-) 36.65 per cent over the same period last year. Overall imports in April 2020* are estimated to be USD 27.80 billion, exhibiting a negative growth of (-) 47.36 per cent over the same period last year.
Analysis and suggestions on Relief Package announced by Union Finance Minister MS. Nirmala Sitharaman for MSMEs, Tax Payers and others through 15-Point Plan to Boost Indian Economy and further suggestion thereon
Rahul Kumar Vs. Emaar MGF Land Ltd. (National Anti-Profiteering Authority) The brief facts of the case are that vide his application dated 07.01.2019 filed before the Standing Committee on Anti-profiteering under Rule 128 (1) of the CGST Rules, 2017, the Applicant No. 1 had alleged profiteering by the Respondent in respect of purchase of Flat […]
To mitigate the hardships, the application(s) in Form 9 and Form 101 for retrospective restoration of membership / certificate of practice complete in all respects and applicable fee for the year 2019-2020 can now be submitted by filing until the midnight of 31st May 2020.
It has come to the notice of ICAI that various Fake Social Media Pages are being operated illegally on ICAI’s name and logo. They are making various announcements and reference material on which the ICAI has sole and exclusive intellectual property rights (IPRs).
• Free food grains supply to Migrants for 2 months. • Technology system to be used enabling Migrants to access PDS(Ration) from any Fair Price Shops in India by March,2021-One Nation one Ration Card. • Scheme for Affordable Rental Housing Complexes for Migrant Workers and Urban Poor to be launched.
