Income Tax Archive

Lack of enquiry or inadequate enquiry. Revision u/s 263 quashed by ITAT applying the large number of judgments of High Court and Supreme Court.

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Lack of enquiry or inadequate enquiry. Revision u/s 263 quashed by ITAT applying the large number of judgments of High Court and Supreme Court. ABCAUS Case Law Citation: ABCAUS 1220 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the revisionary order passed by the Commissioner of

Salary recovered for notice period not taxable u/s 16 – ITAT

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Salary recovered for notice period not taxable salary us 16 as per agreement with the employers when actually assessee had received less salary – ITAT ABCAUS Case Law Citation: ABCAUS 1219 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the Commissioner of Income

Removal of Cyprus from list of notified jurisdictional areas us 94A – Clarification

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Removal of Cyprus from list of notified jurisdictional areas us 94A of the Income-tax Act retrospectively from 01.11.2013-Clarification  Removal of Cyprus from list of notified jurisdictional areas F.  No. 500/002/2015-FT&TR-III(1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes **** Circular  No. 15 of

Disallowance of interest for drawings out of cash credit account deleted as closing balance of capital was more than opening balance

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Disallowance of interest for drawings out of cash credit account deleted as despite drawings closing balance of capital was more than opening balance ABCAUS Case Law Citation: ABCAUS 1217 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals)

Excel Auto Salary TDS Certificate Form 16 for AY 2017-18 & 2016-17 Download

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Excel Auto Salary TDS Certificate Form 16 for AY 2017-18 AY 2016-17 Download Under Section 203 of Income tax Act, 1961, Every employer whether in Government sector or in private sector, is required to issue in form 16, a certificate for tax deducted at source  (TDS) from salary. The

Do not visit CBDT Office for transfers and postings. CBDT tells Income Tax Officers

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Do not visit CBDT Office for transfers and postings. Income Tax Officers have been advised to forward their request to Data Base Cell only CBDT in its recent office memorandum has impressed upon the Income Tax Officers not to visit CBDT office in connection with transfer and postings. According

Slump Sale of entire running business with all assets & liabilities in one go was LTCG us 48(2) for taxation purpose-Supreme Court

Slump Sale of entire running business was LTCG us 48(2). Sale in one go with assets and liabilities cannot be considered as STCG for Taxation-Supreme Court ABCAUS Case Law Citation: ABCAUS 1216 (2017) (04) SC The Grievance: The appellant Commission of Income Tax (CIT) was aggrieved by the order
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