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RBI bans M/s. S R Batliboi & Co. LLP for 1 year from conducting statutory audit assignments in commercial banks

RBI relief measures
RBI bans S R Batliboi & Co. LLP

 

 

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Notification No. 21/2020-Central Tax – Extension of Form GSTR 1 for registered persons whose principal place of business is J&K and Ladakh for period October – December 2019 till 24th March 2020

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The exemption of Rs. 50 lakh in s. 194-IA(2) is applicable w.r.t. the amount related to each transferee and not with reference to the amount as per sale deed. Each transferee is a separate income tax entity and the law has to be applied with reference to each transferee as an individual transferee / person – ITAT Delhi

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Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the Act – ITAT Delhi

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