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Bogus accommodation entry | Vague reasons not justify reopening

September 5, 2021 3210 Views 0 comment Print

Suraj Pulses Pvt. Ltd. Vs PCIT (ITAT Delhi) We find that as far as the reasons recorded, though there is a specific mention about amount of 20,50,000/- received by way of accommodation entry, however neither there is any mention from whom the assessee had received the amount nor what is the nature of the entry […]

Adjudicating authority cannot modify an exemption notification

September 5, 2021 1629 Views 0 comment Print

Commissioner of Customs Vs India Land and Properties Limited (CESTAT Chennai) exemption notifications must be interpreted strictly and if the case does not fall within the parameters, the benefit cannot be given. Any benefit of doubt must be given to the Revenue and should be decided against the appellant. Once the threshold of applicability of […]

ICAI writes Navbharat Times against wrongly attributing a Fraud to a CA

September 4, 2021 1359 Views 0 comment Print

Based on our records we wish to clarify, that the said Ashish Tayal is not a Chartered Accountant and it has been wrongly reported that he is a Chartered Accountant in the said news item. By attributing such a fraud wrongly to a Chartered Accountant you have brought immense disrepute to the profession of Chartered Accountancy and tarnished their image in the eyes of the public.

Exposure Draft of Revised Guidance Note on Division III – Schedule III to Companies Act, 2013

September 4, 2021 2040 Views 0 comment Print

Exposure Draft of Revised Guidance Note on Division III – Schedule III to the Companies Act, 2013 for NBFC that is required to comply with Ind AS by Corporate Laws & Corporate Governance Committee ICAI EXPOSURE DRAFT OF GUIDANCE NOTE ON DIVISION III – SCHEDULE III TO THE COMPANIES ACT, 2013 FOR NBFC THAT IS […]

Draft Guidance Note on Division I – Non Ind AS Schedule III to Companies Act, 2013

September 4, 2021 1881 Views 0 comment Print

Exposure Draft of Revised Guidance Note on Division I – Non Ind AS Schedule III to the Companies Act, 2013 by Corporate Laws & Corporate Governance Committee ICAI EXPOSURE DRAFT OF REVISED GUIDANCE NOTE ON DIVISION I – NON IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised September 2021 Edition) (Last date for […]

Exposure Draft of Revised Guidance Note on Division II – Ind AS Schedule III to Companies Act, 2013

September 4, 2021 11742 Views 0 comment Print

Exposure Draft of Revised Guidance Note on Division II – Ind AS Schedule III to the Companies Act, 2013 by Corporate Laws & Corporate Governance Committee ICAI EXPOSURE DRAFT OF REVISED GUIDANCE NOTE ON DIVISION II – IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised September 2021 Edition) (Last Date for Comments: September […]

Interim Protection against Section 148 Notice by MP High Court

September 4, 2021 1845 Views 0 comment Print

Jagadish Kumar Basantani Vs ITO Bhopal and Others (Madhya Pradesh High Court) Regard being had to the similitude of the questions involved, on the joint request of the parties, the matter is being heard on the question of admission and interim relief. Learned counsel for the petitioner submits that the petitioner has challenged the Constitutionality […]

SC explains when HC can entertain writ petition under Article 226

September 3, 2021 5547 Views 0 comment Print

Assistant Commissioner of State Tax and Others Vs Commercial Steel Limited (Supreme Court) In this case respondent had a statutory remedy under section 107. Instead of availing of the remedy, the respondent instituted a petition under Article 226. The existence of an alternate remedy is not an absolute bar to the maintainability of a writ […]

CBDT notifies meaning of specified Bank for Section 194P

September 2, 2021 11970 Views 0 comment Print

For the purpose of Section 194P CBDT notifies specified Bank to mean a banking company which is a scheduled bank and has been appointed as agents of Reserve Bank of India under section 45 of the Reserve Bank of India Act, 1934 (2 of 1934). Notification No. 98/2021-Income-tax | Dated: 2nd September, 2021. MINISTRY OF […]

NPS Functionalities released by CRAs during Quarter I of FY 2021-22

September 2, 2021 876 Views 0 comment Print

The Central Record Keeping Agencies (CRAs) appointed by PFRDA develop system level functionalities as per the evolving needs of NPS stakeholders in accordance with Section 21 of PFRDA Act 2013.

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