Government extends date for seeking Comments from Stakeholders & Public on the Draft FRDI Bill to 31st October, 2016
The Government of India had invited stakeholder/public comments on the Draft Financial Resolution and Deposit Insurance(FRDI) Bill, 2016 from...
![‘Guarantee Commission’ to acquire the Asset is Revenue Expenditure, not Taxable: Punjab & Haryana HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Punjab-and-Haryana-High-Court-Tax-Scan.jpg "‘Guarantee Commission’ to acquire the Asset is Revenue Expenditure, not Taxable: Punjab & Haryana HC [Read Judgment]")
![Notice for Re-assessment without Recording any Reason is Invalid: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Notice for Re-assessment without Recording any Reason is Invalid: Bombay HC [Read Judgment]")
![Use of Double-Side Carbon is a Mandatory Requirement while filing delivery note: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/10/Carbon-Paper-Taxscan.jpg "Use of Double-Side Carbon is a Mandatory Requirement while filing delivery note: Kerala HC [Read Judgment]")
Addition of Unaccounted Sales solely on the basis of Diary Entries is not Sustainable: ITAT Mumbai [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal recently confirmed the deletion of addition made by the assessing officer on account of unaccounted sales on the basis of diary entries. While...
![Addition of Unaccounted Sales solely on the basis of Diary Entries is not Sustainable: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "Addition of Unaccounted Sales solely on the basis of Diary Entries is not Sustainable: ITAT Mumbai [Read Order]")
Finance Ministry invites Comments/Suggestions from stakeholders on the Report & Draft FRDI Bill by Oct 14, 2016 [Read the Bill]
The Finance Minster Shri Arun Jaitley in Para 90 of his Budget Speech 2016-17, had announced: “A systemic vacuum exists with regard to bankruptcy situations in financial firms. A comprehensive Code...
Liberal Approach in Imposing Penalty: ITAT Pune deletes Penalty for Cash Loans effected in Good Faith [Read Order]
While adopting a liberal approach in interpreting the term “reasonable cause”under section 271D and 271E of the Income Tax act, 1961, the ITAT, Pune bench held that penalty under these provisions...
![Liberal Approach in Imposing Penalty: ITAT Pune deletes Penalty for Cash Loans effected in Good Faith [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Liberal Approach in Imposing Penalty: ITAT Pune deletes Penalty for Cash Loans effected in Good Faith [Read Order]")
CBEC to set up 'Customs Clearance Facilitation Committee' for Land Customs Stations & Inland Container Depots [Read Circular]
The Central Board of Excise and Customs (CBEC) has recently issued a circular notifying the establishment of Customs clearance Facilitation Committees in the Commissionerates of Customs (Preventive)...
