The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the cash loan received from the parents and brother of the assessee for the purchase of the house for the whole family cannot be penalized under Section 271D of the Income Tax Act. Penalty for Cash loan from parents and brother for… Read More »
New audit report Form 10B for Trust/Institution : CBDT Draft Notification Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under clause (b) of sub-section (1) thereof is that where the total income of the trust or institution computed… Read More »
Report of Board of Directors The Board’s Report is an important means of communication by the Board of Directors of a company with its stakeholders. The Board’s Report provides the stakeholders with both financial and non-financial information, including the performance and prospects of the company, relevant changes in the management and capital structure, recommendations as… Read More »
ITAT Bangalore M/s. Rajesh Exports Ltd. Vs ACIT ITA Nos. 928 to 931/Bang/2017 dated 27/11/2018 Assessment Year : 2008-09 to 2014-15 Theseseven appeals are filed by the assessee and these are directed against separate orders of CIT (A) – 11, Bangalore dated 28.02.2017 for A. Ys. up to 2011 – 12 and dated 20.11.2017 for A.… Read More »
Examination for confirmation of enrolment of GST Practitioners GUIDELINES FOR THE CANDIDATES (Please refer sub-rule (9) of rule 83A of the Central Goods and Services Tax Rules, 2017) A. Guidelines for filling up application form: 1. All GST Practitioners who are eligible to appear in the examination are required to submit online application on the… Read More »
A division bench of the Chhattisgarh High Court has held that the demise of the mother cannot be said to be a reason for condoning the delay of 259 days in filing an appeal since the assessee was carrying on business these days. since we are holding that the inordinate delay of 253 days cannot… Read More »
The benefit of the capital gain exemption cannot be denied to a taxpayer on the ground that the income tax return is not filed declaring such income, said the Income Tax Appellate Tribunal (ITAT), Bangalore bench. Smt. Tupel Raja Iyengar Shakuntala, VS The Income-Tax Officer ITA No.64/Bang/2019 Assessment Year : 2009-10 Dated 10.05.2019 O R… Read More »
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HIGH COURT OF GUJARAT Sonal Products v. State of Gujarat MS. HARSHA DEVANI AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 6248 OF 2019 MARCH 28, 2019 D.K. Puj for the Petitioner. ORDER Ms. Harsha Devani, J. – Mr. D.K. Puj, learned advocate for the petitioner, has submitted that though alternative remedy of appeal has been provided under… Read More »