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ICSI to grant CS Course Fee Concession to Widows and Wards of Martyrs

The Institute of Companies Secretaries of India (ICSI) has decided to grant concession in fee to widows and wards of martyrs and permanent disability...

Courts should Strictly Interpret Penal or Taxation Statutes: Supreme Court [Read Order]

Chartered Accountant Vacancies in IDBI Bank

GST Input Tax Credit not allowable on Inward Supplies for Construction of Warehouse: AAR [Read...

Condition for Depositing 20% Tax on pending Appeal is not Rigid One, can’t be implemented in all...

Marigold Butterfly Bridal with Watch not classifiable as Jewellery: AAR [Read Order]

The Authority for Advance Rulings (AAR), Gujarat has held that the product Marigold Butterfly Bridal with Watch and similar jewellery products containing watch not classifiable under the head...

Chairman of Ahmedabad-based Firm booked for GST Evasion

The GST department has arrested the chairman and managing director of Kushal Group, an Ahmedabad-based conglomerate, for allegedly obtaining Rs 88.78 crore input tax credit (ITC) using fake invoices. ...

CBDT signs 18 APAs, Milestone in Indian Advance Pricing Agreement regime

The Central Board of Direct Taxes ( CBDT ) has entered into 18 APAs in the month of March 2019, which includes 03 Bilateral APAs (BAPAs). With the signing of these APAs, the total number of APAs...

Power of AO to prescribe Time Limit for Filing Auditor's Report includes Power to Extend Time limit: Supreme Court [Read Judgment]

A two-judge bench of the Supreme Court has held that the Assessing Officer who prescribes time limit for filing auditor's report under Section 142(2A) of the Income Tax Act is also entitled to extend...

Section 50C can’t be applied when Property Sold under Pressure: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of Section 50C of the Income Tax Act, 1961 cannot be applied when the property in question was sold under...

Penalty can’t be levied on the basis of Vague Charges: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act cannot be levied on vague charges. The assessee, a salaried...

CIT(A) can’t Adjudicate Issue by Introducing a New Source of Income not discussed in Original Assessment: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the Commissioner of Income Tax (Appeals) cannot CIT(A) can’t adjudicate issue by introducing a new source of income not discussed in...

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