1) The Committee on Public & Government Financial Management of ICAI is pleased to announce the 7th(morning) & 8th (evening) online batch of Certificate Course on Public Finance & Government Accounting commencing from 10th January 2021 in the morning (on weekends only-Saturday & Sunday) as per the schedule …
1. The Quality Review Board (QRB) reviewed all aspects of how an audit was performed in entities selected on a risk-based approach and came up with the Audit Quality Review 2019-20. 2. Dr Parvinder Sohi Behuria, Chairperson of the QRB said that with closed businesses and …
Judgement:- The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT), New Delhi Bench held that the mistake in Depositing Service Tax can’t be a reason to deny Refund. Facts of the case: The appellant is operating as a unit of M/s Seaview Developers Ltd. in a Special …
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench in a major relief to the Tata Trusts quashed the revised assessment order passed by the tax department. Facts of the case:- The Commissioner of Income Tax had taken a view that the Trusts may have violated the …
1. The Digital Accounting Assurance Board of The Institute of Chartered Accountants of India (ICAI) invites comments on the following exposure drafts of Forensic Accounting and Investigation Standards(FAIS): Exposure Draft on Standard on Forensic Accounting and Investigation (FAIS) – Communication with Stakeholders – 250 (Click here to …
1. Ministry of Corporate Affairs has inserted Rule 9A w.e.f. 26th January 2021 in the Companies (Incorporation) Rules, 2014 to further extend the time period of the name reserved through SPICE+ under Rule 9 upon payment of certain fees. 2. Rule 9A provides that the Registrar …
Judgement: The Delhi High Court held that the Assessing Officer (AO) wrongfully assumed the jurisdiction and passed the final assessment order without passing a draft assessment order. Facts of the case:- The respondent-assessee, Headstrong Services India Pvt. Ltd. a wholly-owned subsidiary of Headstrong Services LLC, USA, …
1. The Central Board of Indirect Taxes and Customs (CBIC) in order to spread awareness about fake online trader scam, time and again tools steps to beware people. 2. The CBIC has reiterated that the Indian Customs never call or send SMS for paying in a …
i) To reinvigorate the Profession of Accountancy in this fast-changing digitalized World and to curb the prevalent malpractice of fake certificates forged by non-CAs, an innovative concept of Unique Document Identification Number (UDIN) was introduced by the Council of ICAI as mandatory Council Guidelines in a …
Judgement:- The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the capital deduction is allowable for purchase of house property abroad. The assessee, Joseph K. Zachariah earned long term capital gain at Rs.10.18 Crores. Facts of the case:- The assessee has invested in the construction …
