Day: February 15, 2018

Explanatory Notes to the provisions of the Finance Act, 2017-CBDT Circular No. 02/2018

Explanatory Notes to the provisions of the Finance Act, 2017. CBDT has issued Circular No. 02/2018 dated 15th Februry, 2018 explaining the various amendments and provisions of the Act which generally applies for the Assessment Year  2018-19 (Financial Year 2017-18) AMENDMENTS AT A GLANCE Section/Schedule Particulars / Paragraph number First Schedule Rate …

Addition made for electricity variation with quantum of production deleted. Lower consumption should be viewed positively-ITAT

Addition made for electricity variation with quantum of production deleted. Lower consumption of electricity for the same quantum of production should be viewed positively and not adversely-ITAT  ABCAUS Case Law Citation: ABCAUS 2200 (2018) (02) ITAT The Challenge/Grievance: The instant appeal was filed by the Revenue against the …

Addition for investment in land deleted when it was purchased by the company in directors name to facilitate transfer as per State Laws

Addition for investment in land deleted when it was purchased by the company in the name of director to facilitate transfer as per State Laws-High Court Judgment ABCAUS Case Law Citation: ABCAUS 2199 (2018) (02) HC The Challenge/Grievance: The Revenue was aggrieved by the decision of the ITAT …