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Articles by Dilip K Raina

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Assessment Orders Appealable before CIT (A)

  Dilip K Raina    08 January 2020 at 10:33

The year-end 2019 brought to end so many good and bad events or moments we Indians experienced during the year. Some events fade with the onset of the new year, but some continue for life and few such happenings get carried forward to the current year 2020.

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Posted in Income Tax |   3267 Views


Penalty Under Section 271(1)(C) of the Income Tax Act 2016

  Dilip K Raina    30 December 2019 at 10:12

Penalty Under Section 271(1)(C) of the Income Tax Act 2016

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Posted in Income Tax |   60378 Views


Applicability of Insolvency and Bankruptcy Code, 2016 to charitable Institution in India

  Dilip K Raina    09 October 2019 at 11:21

The legal framework prior to the Insolvency and Bankruptcy Code, 2016 (IBC) was not effective to help timely recovery of defaulted and bad assets resulting not only delayed justice but also caused the undue strain on the Indian credit system.

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Posted in LAW |   6027 Views


True and Fair view of accounts - An opinion by Statutory Auditor

  Dilip K Raina    11 September 2019 at 11:23

Lot of investment decisions in the present-day world are based on the reports generated by financial analysists. One of the trusted and important sources of financial information comes from audited published financials.

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Posted in Audit |   4767 Views


Taxation of hypothetical Income

  Dilip K Raina    02 September 2019 at 10:59

In simple words Income tax is levied on income which has been received or has accrued. Income is said to be accrued when it becomes due, but it must also be accompanied by corresponding liability of the other party to pay the amount. Only then an income will be said to have accrued and is not a hypothetical income.

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Posted in Income Tax  1 comments |   12330 Views


Reversal of Input Tax Credit Availed under GST Regime

  Dilip K Raina    26 August 2019 at 10:54

One of the major steps to curb false/fraudulent claims of input tax credit was initiated under Goods and Services Tax regime by introducing a procedure to reverse the amount of input tax credit availed within 180 days in case no or part payment is made to the supplier of goods or services with interest as notified under section 50(1).

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Posted in GST  4 comments |   15420 Views


Predatory pricing under Income Tax Act

  Dilip K Raina    19 August 2019 at 10:41

The dictionary meaning of the word PREDATORY PRICING: A pricing method of selling certain goods at a lower price than is required, or to give away goods for fre..

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Posted in Income Tax  11 comments |   7077 Views


Supreme Court on Powers to Arrest under GST Act

  Dilip K Raina    12 August 2019 at 11:19

On April 18,2019 a division bench of the Telangana High Court upheld the authority and power to arrest assigned to designated officers under the Goods ..

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Posted in GST  1 comments |   10065 Views


Essence of Tax Audit vis-a-vis Revenue

  Dilip K Raina    07 August 2019 at 11:11

Tax audit is an important tool for revenue department which ensures compliance of various provisions of income tax act, reduces the cost in context of diversity..

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Posted in Income Tax |   7503 Views


Impact of Section 271J of Income Tax Act 1961 on Chartered Accountants

  Dilip K Raina    30 July 2019 at 11:15

With the start of Tax Audit season CAs need to refresh various clauses of the Form 3CD and create a check list along with step wise process to capture the infor..

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Posted in Income Tax |   20016 Views