![Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Share-Application-ITAT-Share-Application-Money-ITAT-Directs-Re-Examination-Financial-Statements-Financial-Statements-of-Investors-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Taxscan.jpg "Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]")
Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]
In a recent ruling, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the re-examination of the financial statements of...
![No Evidence on Record shows Services Received against Foreign Currency Spend: CESTAT quashes Demand, Penalty and Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Finance-Ministry-notifies-Foreign-Currency-Conversion-Rates-for-Import-and-Export-of-Goods-TAXSCAN.jpg "No Evidence on Record shows Services Received against Foreign Currency Spend: CESTAT quashes Demand, Penalty and Interest [Read Order]")
Failure to Assemble Audit File within 60 days of Completion of Audit: NFRA Debars CA and Firm for 2 Years [Read Order]
A CA ( Chartered Accountant ) and his firm was debarred by the financial reporting authority for failure to submit the audit file within 60 days of completion of the audit. The NFRA also imposed a...
Financial Reporting for Companies: 7 Objectives to Keep in Mind during Preparation and Audit of Financial Statements
Financial statements provide the exact and lucid mirror image of the financial state of a company, firm or enterprise in business finance. Financial statements, including Balance Sheet, Profit and...
ICAI reprimands CA Held Guilty of Professional Misconduct for Backdating Financial Statements, Contravenes legal standards
The Institute of Chartered Accountants of India ( ICAI ) has reprimanded the Chartered Accountant ( CA ) guilty of professional misconduct for backdating the financial statements. The committee...
CA Proves Exercise of due Diligence while performing Auditing Financial statements of Company: ICAI finds CA not Guilty in Professional Misconduct
The Disciplinary Committee of the Institute of Chartered Accountants of India( ICAI )found the Chartered Accountant ( CA ) not guilty of professional misconduct as the CA was able to prove the...
Debt does not Cease to Exist when there is no Writing in Books of Account, no Cessation of Liability u/s 41(1) of Income Tax Act: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) observed that debt does not cease to exist when there was no writing in books of account, no Cessation of Liability under Section...
![Debt does not Cease to Exist when there is no Writing in Books of Account, no Cessation of Liability u/s 41(1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Bangalore-Income-Tax-Books-of-Account-taxscan.jpg "Debt does not Cease to Exist when there is no Writing in Books of Account, no Cessation of Liability u/s 41(1) of Income Tax Act: ITAT [Read Order]")