Addition for low GP ratio cannot be made if it is consistent with previous Years without any change in factual position Case Law Citation: –Satish Agarwal vs. DCIT (ITAT Jaipur) , IT Appeal No.-969/2013, AY 2008-09 ,Date of Pronouncement -24.09.2015 Issue No.- 1 Addition on account of low GP declared by assessee: Assessee declared GP […]
Reason to believe that income has escaped assessment not sufficient to reopen assessments beyond 4 years Citation of the Case:- CIT vs. Vishishth Chay Vyapar Ltd. (Delhi High Court), Income Tax (Appeal) Nos. 1108, 1109 of 2010, Date of Judgment: 03/12/2015 Brief of the Case Delhi High Court held In the case of CIT vs. […]
Analysis of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 INTRODUCTION Securities and Exchange Board of India (SEBI) on September 2, 2015 issued the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) with the aim to consolidate and streamline the provisions of existing listing agreements for different segments of capital markets such as […]
SEBI (LODR) Regulations, 2015—Beyond Quarterly / Half-Yearly / Annual Compliances This is in continuation of my earlier blog titled ‘SEBI (LODR) Regulations, 2015‘ wherein a list of Compliances (Quarterly / Half Yearly / Annual) was enumerated by me and the Agendas of Board Meeting, Audit Committee and Upcoming General Meeting were enumerated. This blog is […]
No capital gain accrues until right to receive compensation confirmed in proceedings under Land Acquisition Act Citation of the Case:- CIT vs. Suman Dhamija (Delhi High Court), Income Tax Appeal Nos. 20 of 2003 & others, Date of Judgment: 08/12/2015 Brief of the Case Delhi High Court held In the case of: CIT vs. Suman […]