1. The Central Board of Indirect taxes and Customs (CBIC) notified the extension of transitional provisions of Sea Cargo Manifest & Transhipment Regulations for cargo declaration forms. 2. The Board empowered under section 157, read with sections 30, 30A, 41, 41A, 53, 54, 56, sub-section (3) …
1. The government on Wednesday has appointed Jagannath Bidyadhar Mohapatra as a new Chairman of the Central Board of Direct Taxes (CBDT). “The Appointments Committee of the Cabinet has approved the appointment of Shri J.B. Mohapatra, IRS (IT:85031), Member, Central Board of Direct Taxes as Chairman, …
1. The Institute of Chartered Accountants of India (ICAI) issues Technical Guide on Appeal before CIT(A), and Frequently Asked Questions (FAQs). Keeping pace with the latest technological advancements is a prerequisite nowadays. The thrust of the Government is on e-governance. Accordingly, to bring in transparency and …
Yes Bank Released Job Openings On 01-09-2021.Yes Bank is one of the largest private sector banks in India and Yes Bank Limited is a private sector bank in India founded in 2004 by Rana Kapoor and Ashok Kapoor. It operates primarily as a corporate bank, with retail …
Judgment:- The Madras High Court ruled that the normal depreciation could be considered as a legitimate deduction in computing the real income of the assessee on general principles. Facts of the case:- The assessee, Music Academy Madras has sought the ruling on the issue of whether …
1. The Finance Minister, Nirmala Sitharaman in her Press Conference held at Mumbai launched the Enhanced Access and Service Excellence (EASE 4.0) with a common reform agenda for Public Sector Banks (PSBs) aimed at institutionalizing clean and smart banking. “With changed times, now industries have the …
Judgment:- The Madras High Court held that the onus to prove the genuineness of transaction solely lies on the assessee, mere statutory approvals do not sanctify transaction. Facts of the case:- The assessee, M/s.Vishwatej Developers Private Limited had filed their return of income admitting loss and …
Judgment:- The Amritsar bench of the Income Tax Appellate Tribunal (ITAT) ruled that 60% Depreciation is not allowable on iPad as it is not a PC. Facts of the case:- The assessee, M/s Kohinoor Indian raised the issue of whether the iPad falls in the definition …