Daily Archive: Thursday, April 6, 2017

Rule 114B-Quoting PAN to bank due date extended to 30-06-2017

Rule 114B-Quoting PAN to bank due date extended to 30-06-2017 CBDT had vide notification No. 2/2017 had amended the Income Tax Rule 114B relating to quoting of PAN by inserting a fourth proviso providing for  furnishing of permanent account number or Form No. 60, as the case may be, to the

 

10 years impriosnment with 1 lakh fine to income tax officer for accepting a bribe of Rs. five lakh

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10 years imprisonment with 1 lakh fine to income tax officer for accepting a bribe of Rs. five lakh  Central Bureau of Investigation Press Release New Delhi, 05.04.2017        The Special Judge, CBI Cases, Dehradun has today sentenced Shri Arun Kumar Ranjan, then Income Tax Officer, Rudrapur (Uttarakhand) to undergo

 

BCI can not remand disciplinary proceedings transferred to it u/s 36B(1) of the Advocates Act, 1961 from the State Bar Council – Supreme Court

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BCI can not remand disciplinary proceedings transferred to it u/s 36B(1) of the Advocates Act, 1961 from the State Bar Council – Supreme Court   ABCAUS Case Law Citation: ABCAUS 1202 (2017) (04) SC The Ground of Appeal: The appellant advocate contended that the time consumed in disposal of

 

Income tax can disclose information to Lokayukt Up-Lokayukt UP regarding assessee u/s 138(1)(a)(ii). CBDT Notification No. 29/2017

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Income tax can disclose information to Lokayukt Up-Lokayukt UP regarding assessee u/s 138(1)(a)(ii).  Section 138 of the Income Tax prescribes the authorities to which the disclosure of information respecting assessee can be made by the CBDT or any other income tax authority. As per section 138(1)(a)(ii) the information with

 

Cash transaction limit on bank withdrawal u/s 269ST-CBDT Notification

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Cash transaction limit on bank withdrawal u/s 269ST-CBDT Notification exempting cash withdrawal from bank from restriction imposed u/s 269ST  TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 5th April, 2017

 

No capital gain tax on flat transferred as nominee. The assessee did not inherit the property as owner but as nominee of all legal heirs – ITAT

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No capital gain tax on flat transferred as nominee. The assessee did not inherit the property as owner but as nominee of all legal heirs – ITAT ABCAUS Case Law Citation: ABCAUS 1201 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the CIT(A)

 

Claim supported by affidavit cannot be rejected without any enquiry or material brought on record to disprove the claim of the assessee – ITAT

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Claim supported by affidavit cannot be rejected without any enquiry or material brought on record to disprove the claim of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1200 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the CIT(A) confirming the addition