Daily Archive: Friday, 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

Author: | Categories: High Courts, Income Tax, Judgments No comments
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 absence

Guidelines for waiver of interest for TDS default us 201(1A)(i). CCIT/DGIT authorised to waive interest. CBDT Circular 11/2017

Author: | Categories: Income Tax No comments
Guidelines for waiver of interest for TDS default us 201(1A)(i). CBDT Order u/s 119 authorises CCIT/DGIT to waive interest under prescribed conditions Circular No. 11/2017 F. No. 275/56/2016-IT (B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block , New Delhi 24th

Income tax searches conducted on 2534 groups of persons in FY 2013-14, 2014-15, 2015-16 and FY 2016-17 (up to January, 2017)

Author: | Categories: Income Tax No comments
Income tax searches conducted on 2534 groups of persons in FY 2013-14, 2014-15, 2015-16 and FY 2016-17 (up to January, 2017) ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs. 45,622 crore apart from seizure of undisclosed assets (cash, jewellery

Unclaimed Deposits in Banks and Insurance Companies

Author: | Categories: Press Release No comments
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 reported

EPS 1995-Benefit of actual salary exceeding wage limit as per Supreme Court Judgment

Author: | Categories: EPFO, Judgments, Supreme Court 17 Comments
EPS 1995-Benefit of actual salary exceeding wage limit as per Supreme Court Judgment. Member cannot be debarred from exercising higher wages to pension fund EMPLOYEES’ PROVDENT FUND ORGANISATION Ministry or Labour & Employment, Govt. of India No: Pension-I/12/33/EPS Amendment/96/Vol.II/34007                    

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

Author: | Categories: Income Tax, Judgments No comments
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 the
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