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People Legitimately Expect Antiquities like Kohinoor to be brought Back: CIC

June 26, 2018 1239 Views 0 comment Print

The appellant sought information regarding efforts made by the Government of India along with the related documents and correspondence for bringing into India (i) Koh-i-Noor diamond, (ii)Sultanganj Buddha, (iii) Nassak Diamond (iv) The Sword and ring of Tipu Sultan, (v) The golden throne of Maharaja Ranjit Singh (vi) Royal Jade wine cup of Shahjahan

GST Filing Ledger Related Grievances (PMT-04)- Manual and FAQs

June 26, 2018 9294 Views 0 comment Print

FAQs > Filing Ledger Related Grievances (PMT-04) 1. For which issues can I raise a grievance related to Ledgers? Grievance can be raised in case of following issues: Discrepancy in Electronic Cash Ledger Discrepancy in Electronic Credit Ledger Discrepancy in Electronic Liability Register 2. Who can report grievances? Do I need to be a registered […]

Pattern of Assessment From May 2019 Examination for CA Students

June 26, 2018 7440 Views 0 comment Print

Announcement PATTERN OF ASSESSMENT FROM MAY 2019 EXAMINATION Students appearing in the Intermediate and Final Examinations may please note that beginning from May, 2019 attempt, assessment in the following subjects would be partially based on objective type questions: Intermediate Level Final Level Paper Subject Paper Subject 2 Corporate and Other Laws 3 Advanced Auditing and […]

Validity of Notice U/s 148 after 4 years from the end of relevant A.Y. without specifying the amount of income escaping assessment

June 26, 2018 6225 Views 0 comment Print

Notice u/s 148 of the Act can only be issued if the income escaping assessment amounts to, or is likely to amount to Rs. 1 lac. Non-recording of the reason by the Assessing Officer that the escaped income was likely to be Rs. 1 lac or more was fatal to the issuance of the notice for reassessment.

Penalty U/s. 271AAA cannot be levies if No search has taken place at assessee’s premises

June 25, 2018 1254 Views 0 comment Print

Facts of the case, in brief, are that the assessee is a company and filed its return of income on 26th March, 2013 declaring total income of Rs.2,12,72,940/-. A search and seizure action u/s 132 of the I.T. Act was carried out at the business premises of M/s. Aggarwal Associates and Jainco Group of cases and their relatives on 19.10.2011.

Section 234E Late Fee cannot be Levied Retrospectively

June 25, 2018 23073 Views 0 comment Print

This bunch of appeals for AY 2013-14 are directed against the order of ld. CIT(A), Gwalior against upholding levy of fee u/s 234E of the Income Tax Act, 1961(hereinafter short the Act).

Disallowance for personal use of Car cannot be made for mere non maintenance of log book

June 25, 2018 5034 Views 0 comment Print

Where the cars were used by the society for its work of school, and these cars were used for various purposes, such as, liaisoning with DIOS and CBSE Board, etc, such contentions had not been refuted with any cogent evidence, by AO therefore, no disallowance was to be made.

CBIC may raise monetary limits at various appellate FORA in legacy matter: Seek suggestions from Pr CC/CC’s

June 25, 2018 1386 Views 0 comment Print

The raising of monetary limits at various appellate FORA in legacy Central Excise & Service Tax matters as a measure towards reduction of Government litigation has been in sharp focus in the past few months.

A person cannot be disqualified for non submission of his resignation by company in question

June 25, 2018 1494 Views 0 comment Print

It is submitted that in the above facts and circumstances of the case that the petitioner has resigned from the directorship of the company in question, the petitioner would not incur a disqualification under Section 164 of the Companies Act. Consequently, the disqualification of the petitioner as notified in the lists dated 6thSeptember, 2017 and 12th September, 2017 by the respondent no.1 was incorrect and illegal.

HC explains when transfer pricing disputes constitute substantial questions of law

June 25, 2018 2169 Views 0 comment Print

PCIT Vs. Softbrands India P. Ltd (Karnataka High Court The existence of a substantial question of law is sine qua non for maintaining an appeal before the High Court. While the appeal to High Court under Section 260-A of the Act may be a First appeal in the sense from the order of final fact […]

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