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Empanelment for Concurrent Audit of operations of IFV, SIDBI

December 4, 2018 2511 Views 0 comment Print

Small Industries Development Bank of India Request for Proposal (RFP) For Concurrent Audit of Operations of Institutional Finance Vertical (IFV), SIDBI

Standard on Auditing for Audits of Smaller & Less Complex Entities (SASE) 200

December 4, 2018 1773 Views 0 comment Print

Exposure Draft of Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200- Last date for comments: January 17, 2019- Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing for Audits of Smaller and Less Complex Entities

Date of Occupancy Certificate should be treated as date of completion: AAR

December 3, 2018 8565 Views 0 comment Print

In re Bindu Ventures (GST AAR Karnataka) (a) Which date should be considered as the date of completion of the property – the date of receipt of necessary approvals from BBMP / Karnataka Pollution Control Board / Karnataka Electricity Board or the date of receipt of completion certificate from a registered Chartered Engineer? The date […]

Section 54F on investment of sale proceeds in name of assessee & her husband

December 3, 2018 1917 Views 1 comment Print

Smt. Waheeda Asif Abbas Vs ITO (ITAT Chennai) The Assessing Officer disallowed the claim of the assessee under Section 54F of the Act on the ground that the assessee’s husband was not having any share in the property sold by the assessee. Since the investment was made in the name of the assessee and her […]

How to dispose un-claimed/un-cleared cargo lying with custodians

December 3, 2018 6540 Views 0 comment Print

Following procedure with regard to expeditious disposal of un-cla imed/un-cleared cargo lying with custodians, whether in the private or public sector, under section 48 of the Customs Act, 1962, is prescribed

Procedure for movement of goods under TIR Carnets

December 3, 2018 1416 Views 0 comment Print

TIR Carnet opened in the country of departure serves as a Customs control document in the countries of departure, transit and destination. It also serves as proof of the existence of an international guarantee for the goods transported under the Carnet.

Whether issuance of s. 274 notice is merely an administrative device- Conflicting views of High Courts

December 1, 2018 1233 Views 0 comment Print

Jeetmal Choraria Vs. ACIT (ITAT Kolkata) From the aforesaid discussion it can be seen that the line of reasoning of the Honorable Bombay High Court and the Honorable Patna High Court is that issuance of notice is an administrative device for informing the assessee about the proposal to levy penalty in order to enable him […]

Govt allows export of Gold idols (only gods and goddess) from DTA

November 30, 2018 1323 Views 0 comment Print

Para 4.32(i) of Chapter 4 of the Foreign Trade Policy 2015-20 is amended to allow export of Gold idols (only gods and goddess) of 8 carats and above (upto 24 carats) from domestic tariff area.

CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

November 30, 2018 1902 Views 0 comment Print

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed and we take note […]

SEBI (Settlement Proceedings) Regulations, 2018

November 30, 2018 10167 Views 0 comment Print

(1) These regulations may be called the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018. (2) They shall come into force on the 1st day of January 2019.

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