Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor . Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11 th March, 2016 The Central Board of Direct Taxes (CBDT)
While reversing the order of the CIT(A) the Tribunal is duty bound to examine and discuss the reasons given by the CIT(A) to hold one way or the other and then to dispel those reasons. If the Tribunal fails to make such an exercise the judgment will suffer from
The deduction u/s 33AB of the Income Tax Act, 1961 shall be allowed from the total composite income derived from growing and manufacturing tea and only after such deduction is made, Rule 8(1) shall be applied to apportion income between agricultural and non-agricultural income . HIGH COURT AT CALCUTTA ITA 360 of
When the company was compensated by way of interest on loan taken, the assessee shareholder in real sense did not derive any benefit from the funds of the Company so as to attract the provisions deemed dividend under section 2(22)(e). INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘C’ BENCH, KOLKATA I.T.A. No.
The fair market value of the property as on 01.04.1981 by the Registered Valuer on the basis of prevailing market rate from the relevant records of Sub-Registry Office as well as inquiry made from local market cannot be said that the valuation done without any basis. INCOME TAX APPELLATE TRIBUNAL,
The issue relating to the allowability of interest as the part of cost of acquisition of the capital asset under section 48(ii) is highly debatable and since the view taken by the Assessing Officer while allowing the claim of the assessee for deduction on account of such interest under
INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA ITA No. 766/Kol/2013 : Asstt. Year : 2009-2010 Asish Ranjan Chowdhury (APPELLANT) vs. I.T.O. (RESPONDENT) Date of Order: 11/03/2016 ORDER Per Shri S.S.Viswanethra Ravi, J.M. This appeal is filed by the assessee having aggrieved by the order dated 19.10.2011 passed by the CIT(Appeals)-XXXII, Kolkata