Month: October 2016

Income Tax Department vindictively disallowed agricultural income claim of Jayalalithaa. Sasikala also gets similar relief from ITAT

Income Tax Department vindictively disallowed agricultural income claim of Jayalalithaa. Sasikala also gets similar relief from ITAT

October 13, 2016 Income Tax, ITAT, Judgments
Income Tax Department vindictively disallowed agricultural income claim of Jayalalithaa.  Sasikala also gets relief from ITAT ABCAUS Case Law Citation: 1033 (2016) (10) ITAT Brief Facts of the Case(s): In both the cases, among other thing, the claim of agricultural income was disallowed by the Assessing Officer (AO) …
No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from father, grandfather-ITAT

No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from father, grandfather-ITAT

October 11, 2016 Income Tax, ITAT, Judgments
No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from father, grandfather-ITAT ABCAUS Case Law Citation: 1032 (2016) (10) ITAT  Important case law cited: Sheraton Apparels Vs. ACIT (2002) 256 ITR 20 Brief Facts of the Case: The …

Foreign Trade Data Dashboard with Enhanced feature launched. It gives a graphical collection of exports imports and balance of trade of India

October 10, 2016 Government
Foreign Trade Data Dashboard with Enhanced feature launched. New Dashboard gives a graphical collection of exports imports and balance of trade of India  Ministry of Commerce & Industry Press release dated 10/10/2016 Launch of Enhanced Foreign Trade Data Dashboard As part of the initiative of the Ministry of …
ICAI Clarifications-MEF 2016-17. Benefit of seniority and exclusiveness to members applying as Proprietary Concern or in individual capacity

ICAI Clarifications-MEF 2016-17. Benefit of seniority and exclusiveness to members applying as Proprietary Concern or in individual capacity

October 10, 2016 ICAI
ICAI Clarifications-MEF 2016-17 PD/A-40/2016 6th October, 2016 ANNOUNCEMENT – CLARIFICATIONS IN RESPECT OF MEF 2016-17 Applicants of MEF who are (i) Applying as “Proprietary Concern” and also having Sole/Individual practice registered in Institute’s records (ii) Applying as “Individual” (either Sole/Individual practice registered or not in Institute’s records) though …
Annual Information Return Amendment Rules 114D 114E. Furnishing statements by registering officer, aggregation of AIR amounts

Annual Information Return Amendment Rules 114D 114E. Furnishing statements by registering officer, aggregation of AIR amounts

October 8, 2016 Income Tax
Annual Information Return Amendment Rules 114D 114E. Furnishing statements by registering officer, aggregation of AIR amounts. CBDT vide Notification No. 95/2015 had notified new Rules 114B, 114C, 114D and 114E. The Rules governs the following areas.  Rule Subject 114B Transactions in relation to which permanent account number is …