Daily Archive: Monday, March 6, 2017

System error showing agricultural income in ITR to AO. Addition made deleted by ITAT as in ITR downloaded such income was NIL

Author: | Categories: Income Tax, ITAT, Judgments No comments
System error showing agricultural income in return to AO. Addition made deleted by the ITAT as in the ITR downloaded such income  was NIL   ABCAUS Case Law Citation: ABCAUS 1158 (2017) (03) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee filed her return of

 

Two recognised Insolvency Professional Entities IPEs under the Insolvency and Bankruptcy Code 2016

Author: | Categories: MCA No comments
Two recognised Insolvency Professional Entities IPEs under the Insolvency and Bankruptcy Code 2016  Ministry of Corporate Affairs Press Release Dated: 6th March, 2017 The Insolvency and Bankruptcy Board of India (IBBI) recognises two Insolvency Professional Entities (IPEs) under the Insolvency and Bankruptcy Code, 2016 (Code) The Code offers a

 

Prosecution under Customs Act-Revised Guidelines for launching prosecution for offences punishable under Customs Act 1962.

Author: | Categories: Custom No comments
Prosecution under Customs Act-Revised Guidelines for launching prosecution for offences punishable under Customs Act 1962. Circular No. 07/2017 – Customs F. No. 394/68/2013-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) *** New Delhi, the 6th March, 2017 To

 

Gross Profit rate can not be same each year. AO could not step into the shoes of businessman to determine sale price.

Author: | Categories: Income Tax, ITAT, Judgments No comments
Gross Profit rate can not be same each year. AO could not step into the shoes of businessman to determine sale price. Addition made for low GP deleted by ITAT  ABCAUS Case Law Citation: ABCAUS 1157 (2017) (03) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: March-2017 Important Case