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No disallowance of sundry trade creditors if profit was determined on estimated basis

August 24, 2018 1521 Views 0 comment Print

M/s Aditya Enterprise Vs ITO (ITAT Kolkata) In the instant case, the profit was determined on estimated basis due to the fact that assessee failed to produce books of account during the assessment. Once then profit has been determined on estimated basis then in our considered view no disallowance can be made on account of […]

No Penalty u/s 271(1)(c) if two legal interpretations were possible and Assessee acted in bonafide manner

August 24, 2018 2313 Views 0 comment Print

M/s Inspectorate Singapore Pte. Ltd.  Vs ADIT (ITAT Delhi) Assessee was under the belief that due to the ‘make available’ Clause in Article 12 (4) (b) of India Singapore DTAA, the consideration paid by the Indian customers to assessee cannot be regarded as ‘fees for technical services’ and further since there was no transfer of technology […]

No TDS required to be deducted U/s 194H on bank guarantee commission

August 24, 2018 1194 Views 0 comment Print

ITAT had held that there is no principal-agent relationship between the bank issuing the bank guaranee of the assessee. The ITAT Mumbai Bench had further noted that while it is termed as |guarantee commission|, the same is not in the nature of commission

Declaration of Fugitive Economic Offenders (Forms and Manner of Filing Application) Rules, 2018

August 24, 2018 696 Views 0 comment Print

G.S.R. 805(E).—In exercise of the powers conferred by clause (a) of sub-section (2) of section 23 of the Fugitive Economic Offenders Act, 2018 (17 of 2018) and in supersession of the Fugitive Economic Offenders (Application for Declaration of Fugitive Economic Offender) Rules, 2018, except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following rules, namely

Notification No. 42/2018-Customs (ADD) Dated: 24.08.201

August 24, 2018 957 Views 0 comment Print

Seeks to provide for provisional assessment of jute goods exported from Bangladesh by M/s Aziz Fibres Limited, Bangladesh (Producer/ Exporter) till the final findings of New Shipper Review in this regard are recieved vide  Notification No. 42/2018-Customs (ADD) dated: 24th August, 2018. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th August, 2018 […]

Notification No. 41/2018-Customs (ADD) Dated: 24.08.2018

August 24, 2018 927 Views 0 comment Print

Seeks to provide for provisional assessment of jute goods exported from Bangladesh by M/s. Natore Jute Mills, Bangladesh (Producer) and M/s PNP Jute Trading LLC,USA (Exporter/ Trader) till the final findings of New Shipper Review in this regard are recieved vide  Notification No. 41/2018-Customs (ADD) dated: 24th August, 2018. MINISTRY OF FINANCE (Department of Revenue) […]

Empanelment of CA Firms for Concurrent Audit with Dena Gujarat Gramin Bank

August 24, 2018 2607 Views 0 comment Print

Dena Gujarat Gramin Bank, invites applications on the undernoted prescribed format from practicing ‘Partnership firms of Chartered Accountants’ who fulfill the eligibility criteria as mentioned hereunder and are willing to have their Firms empanelled as Concurrent Auditors in the Bank for conducting concurrent audit of branches.

Empanelment / Appointment of GST Auditors with NHPC Limited

August 24, 2018 1926 Views 0 comment Print

NHPC Ltd. invites Expression of Interest (EOI) from Firms/LLPs of Chartered Accountants (CA) / Cost Accountants (CMA) for Empanelment/ Appointment of GST Auditors.

Extension of last date for CA exam form submission for candidates in Kerala

August 23, 2018 963 Views 0 comment Print

Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2018, for candidates in Kerala only. Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2018, for candidates in Kerala only In […]

Arun Jaitely resumes charge of Ministry of Finance & Corporate Affairs 

August 23, 2018 543 Views 0 comment Print

The Union Minister, Shri Arun Jaitley today resumed the charge of the Ministries of Finance and Corporate Affairs after a gap of more than three months.

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