ITO Vs Meyer Apparel Pvt. Ltd (ITAT Delhi): Loan waiver for capital assets not taxable under Sec 28(iv) or 41(1) as cash receipt; not a remission of trading liability.
Know complexities of GST regime with Rama Brick Field vs. Additional Commissioner case. Allahabad HC highlights failure to consider GST portal details & returns bars initiation of demand proceedings.
Delhi High Court decision on Subodh Gupta vs ACIT. Disruption in video conference hearing leads to setting aside assessment orders. Fresh hearings directed.
ITAT directed the CIT(A) to re-examine the matter, taking into account the written submission filed by the assessee during e-proceedings. The ITAT emphasized the importance of affording the assessee a fair opportunity to substantiate its claims with supporting evidence.
Explore the nuances of Auditing Standard 720 (Revised) and the auditors responsibilities regarding other information in an entity’s annual report. Learn the scope, objectives, and practical application. Stay informed to uphold credibility.
Explore the types of modified opinions, circumstances requiring modifications, and the impact on the auditor’s report as per Standard on Auditing 705
Explore the scope and responsibilities of Standard on Auditing 610, covering the use of internal audit functions by external auditors. Learn the relationship with SA 315 and key considerations
Explore the significance of Written Representations in audits with a detailed analysis of Standard on Auditing 580. Learn its scope, objectives, and implications
Explore the nuances of Standard on Auditing 550, delving into auditor responsibilities, risk assessment, and responses for transparent financial reporting
Dive into the details of Standard on Auditing 500 (SA 500) – Audit Evidence. Learn its scope, objectives, definitions, and requirements. Enhance your auditing knowledge
