Daily Archives: October 6, 2015

AUDIT ENGAGEMENT LETTER

By | October 6, 2015

Date : The Board of Directors, Company Name Address. Dear Sirs, Re.:   AUDIT ENGAGEMENT LETTER The purpose of this letter is to confirm our understanding of the terms of our appointment to audit the Balance Sheet of Company Name.(“the Company”) and the related Statement of Profit and Loss, Cash flow statement and notes thereon collectively referred to as… Read More »

Cash withdrawals from bank could not be taxed when credit receipts in bank were already taxed

By | October 6, 2015

when receipts in bank account were taxed, then payments from that very bank account have nexus with receipt and, therefore, addition could not be sustained HIGH COURT OF BOMBAY Commissioner of Income-tax – 21 v. Jalaj Batra S.C. DHARMADHIKARI AND A.A. SAYED, JJ. IT APPEAL NO. 638 OF 2012 NOVEMBER  12, 2014 Abhay Ahuja for… Read More »

Amount paid for construction of railway underbridge for access to projects of assessee was revenue exp

By | October 6, 2015

Where an area development authority, made payment to Railway for construction of railway underbridge to overcome traffic problem and for creating access of projects undertaken by it, said expenditure was to be allowed as deduction under section 37(1) IN THE ITAT CHANDIGARH BENCH ‘A’ Greater Ludhiana Area Development Authority v. Additional Commissioner of Income-tax BHAVNESH… Read More »

Queries in filing of CRA 4 on MCA 21 portal

By | October 6, 2015

Attention of Stakeholders: The Institute of Cost Accountants of India is getting several queries relating to filing of CRA 4 on MCA 21 portal. These queries generated by MCA System may be: Attached Instance Document is not prescrutinised for the CIN as entered in the form or Fill all the fields in the form appropriately,… Read More »

Abatement of 70% on Ancillary services by Goods Transport Agency

By | October 6, 2015

 Ancillary services by Goods Transport Agency   Circular No.186/5/2015-ST,  F. No. 354 / 98 /20015-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ***** New Delhi, dated 5th October, 2015  To, Principal Chief Commissioner / Chief Commissioner of Central Excise, Service Tax and Customs (All), Director General of… Read More »