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SC held Insolvency & Bankruptcy Code overrides Tea Act,1953

October 4, 2019 1890 Views 0 comment Print

Insolvency and Bankruptcy Code, 2016 (IBC) proceedings would have an over­riding effect over the Tea Act, 1953 and even without such consent of the Central Government, the insolvency proceedings under Section 7 or Section 9 of the IBC initiated by the operational creditor should be maintainable.

How to Raise Grievance for GST refund claim filed but not processed

October 4, 2019 24840 Views 1 comment Print

Raise a Grievance for refund claim (RFD 01A) filed which has not been processed -reg If you had filed claim for Refund using the Form GST RFD01A and In case your claim has not been processed by tax authorities i.e. sanctioned or rejected or you have not received the amount sanctioned to you, then you […]

Order No. 220/2019- Transfer & Posting of CCsIT & PCsIT

October 4, 2019 5937 Views 0 comment Print

OFFICE ORDER NO. 220 OF 2019 The following transfer/posting of the officers in the grade of Chief Commissioner of Income Tax and Principal Commissioner of Income Tax to the Newly Created Regional e-Assessment Centre (ReACs) at various Station across India are, hereby, ordered, with immediate effect and until further orders:

Depreciation on Weaving Looms Allowed as same was ready for use

October 4, 2019 3093 Views 0 comment Print

The issue under consideration is whether the depreciation on purchase of New Weaving Looms allowed in case of assessee?

India’s First ‘Unlimited Trading Subscription Plans’ with Indiabulls Shubh

October 3, 2019 5391 Views 0 comment Print

The Indiabulls Shubh is a discount broking platform which offers unlimited trading with subscription-based plans. The customers could pick from a range of subscription plans on both Intraday as well as Delivery.

Sec 14 of Limitation Act applies only when application Sec 34 of Arbitration Act filed within time at first instance

October 3, 2019 4869 Views 0 comment Print

Wherein condonation of delay sought was not for filing the petition under Section 34 of Arbitration Act, 1996 for the first time but for the delay of 8 days in re-presenting the petition beyond the date fixed after it was returned under Order 7 Rule 10 of the Civil Procedure Code before the District Judge,

No Postponement of CA November 2019 Exams- ICAI Denies Social Media Report

October 3, 2019 477 Views 0 comment Print

IMPORTANT ANNOUNCEMENT 1st October, 2019 Subject: No Postponement of CA November 2019 Exams It has been brought to our notice that certain announcement is being circulated in social media that the CA Exams will be held in December instead of November 2019. In this connection, it is hereby clarified that the above announcement has not […]

Proactive Steps Initiated by ICAI in PMC Bank Matter

October 3, 2019 1200 Views 0 comment Print

Recently, various Media reports were reported about major financial irregularities and failure of internal control systems leading to downfall of PMC Bank. Considering the enormity of the matter, the Institute of Chartered Accountants of India (ICAI) in consonance with its role as a Regulator has triggered its Disciplinary mechanism by writing to the concerned Bank […]

How to Authenticate Notice/Order Issued by Income Tax Department

October 3, 2019 7392 Views 0 comment Print

1) Go to the Income Tax department’s e-filing website and click on “Notice/Order Issued by ITD” button on the left side or visit the following link- https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/AUTHNoticeLink.html?lang=eng 2. You can search any income tax notice online by any of two methods below at above link- 1. With Document Number 2. With PAN, Assessment year, Notice […]

Section 147 Assessment invalid if reasons recorded for reopening not furnished

October 3, 2019 2820 Views 0 comment Print

The issue under consideration is whether Non-furnishing of reasons recorded for reopening of assessment made the entire assessment u/s 147 invalid in law?

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