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FM to inaugurate National e-Assessment Centre

October 6, 2019 1335 Views 0 comment Print

FM to inaugurate National e-Assessment Centre of Income Tax Department Tomorrow Shall usher introduction of Faceless e-Assessment in the Income Tax Department New Initiative shall impart greater efficiency, transparency and accountability in the assessment process The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater […]

Issuance & service of notice u/s 143(2) at wrong address within knowledge of AO was invalid

October 5, 2019 3456 Views 0 comment Print

Gautam Automobiles Pvt. Ltd. Vs ITO (ITAT Delhi) Conclusion: Since assessee has been consistently disclosing the address to the Revenue Department for the purpose of service and communication at 3, Tansen Marg, Bengali Market, New Delhi and this fact was also admitted by the A.O, therefore, there was no question of service of the notice […]

Reconstitution of firm does not constitute transfer u/s 45(4)

October 4, 2019 4728 Views 0 comment Print

Section 45(4) would not be attracted on the retirement of the two partners and consequential allotment of their share in the assets in the assessee-firm as there was no element of transfer of interest in the partnership assets by the retiring partner to the continuing partners. 

SC held Insolvency & Bankruptcy Code overrides Tea Act,1953

October 4, 2019 2181 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 26415 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 6297 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 3840 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 5802 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 5214 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 645 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 […]

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