Daily Archive: Saturday, November 19, 2016

Sikkim connection of Demonetisation Scheme and Black Money Conversion. No income tax payable by Sikkimese person u/s 10(26AAA)

Author: | Categories: Income Tax No comments
Sikkim connection of Demonetisation Scheme Tax Evasion. No income tax payable by Sikkimese person u/s 10(26AAA) of Income Tax Act, 1961  Post demonetisation and withdrawal of old bank notes of the denomination of Rs. 500/- and 1000/- as reported, the Income Tax Department is all set to tighten the

Penalty us 221(1) on tax due as per revised return of income. It is not correct to levy penalty on the amount due as per original return of income-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Penalty us 221(1) on tax due as per revised return of income. It is not correct to levy penalty on the amount due as per original return of income-ITAT ABCAUS Case Law Citation: 1058 (2016) (11) ITAT Brief Facts of the Case: The assessee filed its original return of

CIT-A can decide appeal against CIT revision order us 263 when no direction given to make assessment in a particular way-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
CIT-A can decide appeal against CIT revision order us 263 when no direction given to make assessment in a particular way except to invoke Section 50C-ITAT ABCAUS Case Law Citation: 1057 (2016) (11) ITAT Brief Facts of the Case: The appellant assessee had filed his return of income admitting

Not get lured by black money converters and be a crime partner. CBDT warns people allowing their bank accounts to convert old notes

Author: | Categories: Income Tax No comments
Not get lured by black money converters and be a crime partner. CBDT warns people allowing their bank accounts to convert black money into new notes Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th November, 2016. PRESS RELEASE Sub: Demonetisation

Metal scrap import clearance Procedure-Shredded metallic scrap to be cleared upon furnishing pre-shipment inspection certificate

Author: | Categories: Custom No comments
Metal scrap import clearance Procedure-Shredded metallic scrap to be cleared upon furnishing pre-shipment inspection certificate. Circular No. 53/2016-Customs F. No. 450/148/2009-Cus.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ***** Room No. 227B, North Block, New Delhi, dated the 18th November, 2016 To,
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