Daily Archive: Saturday, April 8, 2017

Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default for non deduction of TDS – ITAT

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Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default u/s 201(1) and u/s 201(1A) for non deduction of TDS – ITAT ABCAUS Case Law Citation: ABCAUS 1206 (2017) (04) ITAT The Grievance: The assessee was aggrieved by order passed by the

 

Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High Court

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Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High Court ABCAUS Case Law Citation: ABCAUS 1205 (2017) (04) HC The Grievance: The assessee was aggrieved by order passed by the Income Tax Appellate Tribunal (‘ITAT’) The Substantial Question

 

Revisionary order quashed as wrong allowance caused no prejudice to the interest of Revenue and twin conditions u/s 263 not satisfied-ITAT

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Revisionary order quashed as wrong allowance caused no prejudice to the interest of the Revenue and the twin conditions u/s 263 not satisfied-ITAT  ABCAUS Case Law Citation: ABCAUS 1204 (2017) (04) ITAT The Grievance: The Appellant was aggrieved by the order passed by the Commissioner of Income Tax (‘CIT’)