One Liner Top-Stories Update:
COVID-19: Govt. waives Customs Duty on Inflammatory Diagnostic (marker) kits
ICAI requests Chartered Accountants to contribute generously towards CA Benevolent Fund
ICAI relaxes procedure followed for grant of Medical Financial Assistance Chartered Accountants and their dependents
Land contributed to Firm was withdrawn by Partners during Retirement can’t be treated as Settlement of Accounts on Retirement: ITAT
Earnest Money was Forfeited on Cancellation of Land Purchase resulting into Business Loss: ITAT deletes disallowance of Commission
Managing Director can’t be liable for Unaccounted Income of the Company: ITAT
PCIT can’t assume Jurisdiction u/s 263 when AO has made Sufficient Enquiry: ITAT
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