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Addition for sale outside books of Accounts without rejecting of books of account not sustainable

May 19, 2017 1662 Views 0 comment Print

Tribunal formed an opinion where once the account books are expected to be maintained in the prescribed accounting standard, the assessing officer could not have made any additions towards the sale of rice treating it to be outside the books of accounts or towards investing in stock of rice and wheat outside the books of accounts.

ITAT Directive on Fixing of Stay Applications for Hearing

May 19, 2017 1218 Views 0 comment Print

The Registry is directed to fix all the Stay Applications, whatever are received up to Wednesday in each week on the succeeding Friday before the respective Bench. This order be strictly followed.

Advertising by practicing CAs engaged in Coaching/ Teaching

May 19, 2017 6231 Views 2 comments Print

Members are advised to abstain from advertising their association with Coaching /teaching activities through hoardings, posters, banners and by any other means, failing which they may be liable for disciplinary action,

CERC Proposes To Introduce E-Hearing From June

May 19, 2017 1122 Views 0 comment Print

CERC, as part of the Digital India initiative, have launched a web-based e-filing portal on 4th April 2016, the Stakeholders and their Counsels are now filing petitions and submitting pleadings online on CERC e-Filing portal, after accessing the portal by entering their login credentials.

Uttar Pradesh Goods And Services Tax Act, 2017

May 19, 2017 9321 Views 0 comment Print

THE UTTAR PRADESH GOODS AND SERVICES TAX ACT, 2017 (U.P. Act no. 1 of 2017) [As passed by the Uttar Pradesh Legislature] AN ACT to make a provision for levy and collection of tax on infra-State supply of goods or services or both by the State of Uttar Pradesh and the matters connected therewith or incidental thereto.

104 Transfers and postings in the grade of ACIT / DCIT (Local changes)

May 18, 2017 1923 Views 0 comment Print

The following postings/ transfers in the grade of Assistant/ Deputy Commissioner of Income Tax (Local Change) are, hereby, ordered with immediate effect and until further orders

Fast Tracking Skill Development

May 18, 2017 1278 Views 0 comment Print

‘Skill building’ and ‘knowledge’ are quintessential for economic growth of any country in today’s world. More so for a country like India where 13 million youth are estimated to enter the job market annually. There is another reason too which makes ‘skill building’ an imperative for the growth of country’s economy.

MEIS Scheme being re-designed to make exports GST compliant

May 18, 2017 2106 Views 0 comment Print

Merchandise Exports from India Scheme being re-designed to make exports GST- compliant; working capital needs under new tax regime being deliberated upon

Minimum qualifications & experience for CFO & CTO of Banks

May 18, 2017 3345 Views 0 comment Print

A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk governance framework.

Customs Rate of foreign currency exchange WEF 19th May, 2017

May 18, 2017 1224 Views 0 comment Print

Indian currency or vice versa, shall, with effect from 19th May, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

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