Income Tax Archive

Assessment is concluded if notice u/s 143(2) not issued within stipulated time -Delhi High Court

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Assessment is concluded if notice u/s 143(2) not issued within stipulated time and in terms of CBDT circular no scrutiny can be started in such cases-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1299 (2017) (07) HC The Question framed for determination: “Did the Income Tax Appellate Tribunal (ITAT)

TDS PAN correction limit of 2 alfa 2 numerical characters only held not permissible

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PAN correction limit of 2 alfa 2 numerical characters only for TDS statements held not permissible. Inocme Tax Department was directed to allow correction- Gujarat High Court ABCAUS Case Law Citation: ABCAUS 1298 (2017) (07) HC The Grievance: The petitioner had challenged the action of the Income Tax Department

Amendment to Form 3CEFA-Application for opting for safe harbour. CBDT Notification

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Amendment to Form 3CEFA-Application for opting for safe harbour. more information added under Eligible International Transaction MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 62 /2017 New Delhi, the 18th July, 2017 INCOME-TAX G.S.R. 891(E).—In exercise of the powers conferred by section 295 read

No TDS deduction on GST Component when indicated separately in invoice-CBDT Circular 23/2017

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No TDS deduction on GST Component when indicated separately in the invoice as per agreement/contract between payer and payee-CBDT CIRCULAR No. 23/2017 F. No. 275/59/2012-IT (B) Government of  India Ministry  of  Finance Depanrnem of Revenue Central Board of Direcr Taxes North Block, New DelhI 19th July, 2017 Subject: Modification

Formula for computing Tax Effect where income computed u/s 115JB or 115JC . CBDT modifies circular 21/2015

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Formula for computing Tax Effect where income computed u/s 115JB or 115JC . CBDT has modified the circular no. 21/2015 related to computation of tax effect for appeal purpose. F.No.279/Misc-142/2007-ITJ-(Pt)  Government  of India Ministry  of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the 15th

Second visit in the name of concluding search without new seizure could not validate second panchnama

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Second visit in the name of concluding search without without finding anything new for being seized could not validate second panchnama for limitation period u/s 153B(2)(a) – Delhi High Court ABCAUS Case Law Citation: ABCAUS 1297 (2017) (07) HC The Issue: All the appeals were directed against the order

No concealment penalty for wrong claim on the advice of CA – Punjab & Haryana High Court

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No concealment penalty for wrong claim on the advice of CA. Even if it was wrong, it could be a good case for addition but not for penalty – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1296 (2017) (07) HC The Question framed for determination: “Whether
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