Day: March 24, 2017

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon’ble Delhi High Court has held that the terms used in the relevant sub-section are the only designations of the officers who could receive a copy of the order. Therefore, in the …

Unclaimed Deposits in Banks and Insurance Companies

Unclaimed Deposits in Banks and Insurance Companies The details of the unclaimed deposits reported by various banks under Section 26 of Banking Regulation Act (BR Act), 1949 are as follows: As of Unclaimed Deposits (Rs. in crores) 31.12.2013 5124.98 31.12.2014 4998.27 31.12.2015 6835.40 The details of unclaimed amount …

Additions not related to reasons recorded for reopening not permissible as it was not subject matter of reasons recorded by AO for reopening the assessment

Additions not related to reasons recorded for reopening not permissible as it was not subject matter of reasons recorded by AO for reopening the assessment – ITAT ABCAUS Case Law Citation: ABCAUS 1183 (2017) (03) ITAT The Grievance: The appellant assessee was aggrieved by the additions made by …