In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …
Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …
Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section 264 of Income Tax Act. In a recent judgment Hon’ble Kerala High Court has held that Section 143(1) Intimation is only an intimation and it cannot be treated …
Order u/s 127 quashed as PCIT having jurisdiction over non corporate assesee could not have transferred case of a corporate assessee to another AO In a recent judgment ITAT has quashed assessment as PCIT having jurisdiction over non corporate assesee could not have assumes jurisdiction to transfer a …
DGFT issues modalities for eligibility, receipt and processing of applications for issuance of authorizations for export of wheat flour and related products under HS Code 1101 Directorate General of Foreign Trade has issued Public Notice No. 44 /2025-26 Dated: 16th January 2026 notifying the following modalities for eligibility, receipt …
No obligation to deduct tax at source u/s 195 on the commission paid to non-resident foreign commission agent not liable to pay tax in India – ITAT In a recent case, ITAT Agra has held that there was no obligation for the assessee to deduct tax at source …
In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …
Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …
Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section 264 of Income Tax Act. In a recent judgment Hon’ble Kerala High Court has held that Section 143(1) Intimation is only an intimation and it cannot be treated …
High Court denied pre-arrest bail to accused of fake ITC utilisation on possibility of misusing the concession of pre arrest bail In a recent judgment, High Court of Punjab & Haryana denied pre-arrest bail to accused of fake ITC utilisation observing that there was possibility of petitioner’s misusing …
Civil Court decreed refund of security deposit of VAT era as in GST Regime there is no requirement of security deposit at the time of registration. In a recent judgment, Civil Court Judge decreed refund of security deposit in the form of Fixed Deposit given at the time …
Allahabad High Court disposes GST appeals observing that the functioning of GST Appellate Tribunal are put to motion Allahabad High Court disposes GST appeals observing that once the procedure has been notified and appointments of the Presidents and the Members have been made to the respective Benches of …
Provisions of the Limitation Act, 1963 not apply to quasi-judicial bodies or tribunals, unless they are specifically empowered in that regard – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that provisions of the Limitation Act, 1963 apply only to suits, applications or appeals made …
MCA amends rules regarding Directors KYC and updation MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 31st December, 2025 G.S.R. 943(E).—In exercise of the powers conferred under second proviso to sub-section (1),sub-section (4), clause (f) of sub-section (6) of section 149, sub-sections (3) and (4) of section 150, section …
Small Company threshold of paid-up capital increased to Rs. ten crores and turnover to Rs. hundred crores w.e.f. 1st December 2025. What is a small company? Answer: Before the amendment, as per section 2(85) of the Companies Act 2013, to pass the test of a small company it …
In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …
Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …
Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section 264 of Income Tax Act. In a recent judgment Hon’ble Kerala High Court has held that Section 143(1) Intimation is only an intimation and it cannot be treated …
ICAI revises eligibility criteria for empanelment of organizations to impart industrial training (Effective from 1st January, 2026) The Council of the Institute of Chartered Accountants of India has revised the eligibility criteria for empanelment of organizations to impart Industrial Training under Regulation 51 (2)(b) effective from 1st January …
Deferment of ICAI Phase IV Peer Review Mandate to 31.12.2026 The ICAI has decided that Phase IV of the Peer Review mandate which is applicable from 01.01.2026 be extended to 31.12.2026. This is not the first time, ICAI has deferred implementation of Phase IV of the Peer Review …
FAQs on key accounting implications arising from the New Labour Codes Recently, Government consolidated existing labour laws into four new Labour Codes, viz., Code on Wages, 2019, Code on Social Security, 2020, Industrial Relations Code, 2020 and Occupational Safety, Health and Working Conditions Code 2020 (New Labour Codes). …
Excel Auto 234ABC Interest Calculator for AY 2025-26 with accurate calculation as per revised provisions. Download for Corporate and Non-corporate Assessees Section 234A, 234B and 234C of the Income tax Act, 1961 deals with interest for delay in ITR Filing or Short/Non deposit of Advance tax. Interest is …
Excel Income Tax Challan ITNS 280 for FY 2025-26 AY 2026-27 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280 This excel Challan ITNS 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income …
Excel Income Tax TDS Challan ITNS-281 for FY 2025-26 : AY 2026-27 with database facility Income Tax Challan ITNS 281 is used for payment of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). A PDF version of the challan with instructions can be downloaded from …
Empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services Engineering Projects (India) Ltd. has invited application for empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services. Engineering Projects (India) Limited, herein termed as “EPI” was incorporated in 1970 as A Government of …
NALCO invites RFP for empanelment of Chartered Accountant Firms for verification of Stores/Spares and movable assets. NALCO has invited Request for Proposal (RFP) for Empanelment/Appointment of Chartered Accountant / Cost Accountant Firms for Conducting Physical Verification of Stock of Stores/ Spare Parts, Raw Materials, Finished Products and Movable …
Competition Commission of India inviting applications for engagement of Young Professionals (YPs) The Competition Commission of India, New Delhi is inviting applications from eligible candidates for engagement of Young Professionals (YPs) on contract basis, to be posted at Delhi/Mumbai/Chennai. The selected YPs shall be posted in the following …
CBIC extends export incentives to shipments through Postal Export Bills from 15th January 2026 The Central Board of Indirect Taxes and Customs (CBIC) has extended export-related benefits under the Duty Drawback, Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and …
Mushroom growing apparatus cannot be classified as ‘agricultural machinery’ under Customs Tariff Heading 8436. In a recent judgment, Hon’ble Supreme Court has held that mushroom growing apparatus cannot be classified as ‘agricultural machinery’ under Chapter Heading 8436 under Customs Tariff. ABCAUS Case Law Citation:4977 (2026) (01) abcaus.in SC …
CBIC has issued a Standard Operating Procedure (SoP) for wearing Body Cam by Custom officers responsible for Baggage Clearance According to Instruction issued in this regard, CBIC has stated that aligning with the international best practices it has been decided to prescribe Body Worn Cameras (BWC) for baggage …
NTPC invited applications from CA/CMA as young professionals to join NTPC Projects/Stations as Executive Trainee, Finance. NTPC Limited has invited applications from CA/CMA as young professionals with brilliant academic record to join NTPC Projects/Stations as Executive Trainee – Finance (CA/CMA). The qualifying requirements are as under: Name of …
Maintenance, archival and submission of Audit File to National Financial Reporting Authority (NFRA) – Points of compliance by the audit firms The Standards on Auditing (SAs) including the Standard on Quality Control (SQC-1) define and provide guidance as to what constitutes an audit file and its evidentiary value …
Acceptance of Audit Fee only through digital modes or banking channels from 01.04.2026 – ICAI revises Code of Ethics In a significant amendment to Code of Ethics, ICAI has mandated Chartered Accountant or CA Firms shall accept Audit Fee only through digital modes or banking channels from 01.04.2026. …
