Income Tax Archive

Exemption u/s 80IB ineligible if undertaking do not remain SSI in a particular assessment year-SC

Exemption u/s 80IB ineligible if undertaking do not remain SSI in a particular assessment year even if in initial year eligibility was satisfied.-Supreme Court ABCAUS Case Law Citation: ABCAUS 2143 (2017) (12) SC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against the

 

Mere not recording of transactions not make them undisclosed if entries are verifiable from other primary records

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Mere not recording of transactions not make them undisclosed if entries are otherwise verifiable from other primary books. High Court upheld ITAT judgment ABCAUS Case Law Citation: ABCAUS 2142 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against the order/judgment

 

Jewellery held belonging to 3 wives though purchase bills found in search were in assessee’s name.

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Jewellery held belonging to 3 wives though purchase bills found in search were in assessee’s name. HC uphelds deletion of undisclosed income u/s 158B(b) ABCAUS Case Law Citation: ABCAUS 2141 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against the

 

Execution of registered sale deed adjusting cash credit entries in books establishes identity of depositors -High Court

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Execution of registered sale deed adjusting cash credit entries in books establishes identity of depositors of money beyond doubt-High Court upheld deletion of additions made u/s 68 ABCAUS Case Law Citation: ABCAUS 2140 (2017) (12) HC The Challenge/Grievance: This instant appeal was filed by the Revenue under Section 260A

 

Reopening materials include subsequent years assessments -High Court

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Reopening materials include subsequent years assessments scrutiny during the course of whose proceedings AO has occasion to see if the same, or same pattern of returns or claims were made. ABCAUS Case Law Citation: ABCAUS 2139 (2017) (12) HC The Challenge/Grievance: The Petitioner assessee by way of two writ

 

Income Tax Officer suspended for demanding bribe through taxpayer’s chartered accountant

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Income Tax Officer suspended for demanding bribe through taxpayer’s chartered accountant which was substantiated by audio recordings and case records Press Information Bureau  Government of India Ministry of Finance 08-December-2017 12:43 IST Income Tax Department suspends an officer for harassing the taxpayer  A complaint was received making serious allegations

 

CBDT extends time for linking Aadhaar with PAN till 31-03-2018. Order u/s 119

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CBDT extends time for linking Aadhaar with PAN till 31-03-2018. Earlier the time was allowed till 31.12.2017. CBDT order u/s 119 F.No.225/270/2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes  North-Block, ITA.II Division New Delhi, dated the 8th of December, 2017 Order under