Day: January 22, 2017

Element of undisclosed investment in undisclosed purchases upheld. Peak credit of purchases rejected. AO to work out number of fund rotations-ITAT

Element of undisclosed investment in undisclosed purchases upheld. Peak credit of purchases rejected. AO to work out number of fund rotations required for achieving undisclosed purchases -ITAT  ABCAUS Case Law Citation: ABCAUS 1107 (2017) (01) ITAT Assessment Year : 2010-11 The Issue for determination: The issue before the …

Transport Allowance to deaf-dumb employees at double rates. Central Government employee to get double allowance from 19-02-2014-Finmin

Transport Allowance to deaf-dumb employees at double rates. Central Government employee to get double allowance from 19-02-2014-Finmin No. 20/2/2016-E-II(B) Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated: 17.01.2017 OFFICE MEMORANDUM Subject:–  Grant of Transport Allowance at double the normal rates to …

Deduction us 54-Old fund used for construction of new house. It is not mandatory that sale consideration new house should be used for construction-ITAT

Deduction us 54-Old fund used for construction of new house. It is not mandatory that only the sale consideration of house sold is to be utilized for purchasing or constructing a new residential house-ITAT ABCAUS Case Law Citation: ABCAUS 1106 (2017) (01) ITAT Assessment Year : 2009-10  Important Case …