Month: February 2017

Reopening us 147 on the basis of cash deposits in bank invalid as there was no basis to form reason that cash deposits represented assessee’s income – ITAT

Reopening us 147 on the basis of cash deposits in bank invalid as there was no basis to form reason that cash deposits represented assessee’s income – ITAT

February 15, 2017 Income Tax, ITAT, Judgments
Reopening us 147 on the basis of cash deposits in bank invalid as there was no basis to form reason that cash deposits represented income of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1128 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 …
Yoga also gives medical relief as per definition of charitable purpose us 2(15). Propagation of yoga is also imparting of education – ITAT

Yoga also gives medical relief as per definition of charitable purpose us 2(15). Propagation of yoga is also imparting of education – ITAT

February 14, 2017 Income Tax, ITAT, Judgments
Yoga also gives medical relief as per definition of charitable purpose us 2(15). Propagation of yoga was charitable purpose and also imparting of education – ITAT ABCAUS Case Law Citation: ABCAUS 1127 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: …
Supreme Court

Probative worth of Income Tax Proceedings qua lawfulness of the sources of income. SC judgment

February 14, 2017 Income Tax, Judgments, Supreme Court
Probative worth of Income Tax Proceedings qua lawfulness of the  sources of income. SC rejects IT orders/assessment as proof against charge of corruptions ABCAUS Case Law Citation:ABCAUS 1126 (2017) (02) SC Date/Month of Pronouncement: 14th February, 2017 Important Case Laws Cited/relied upon:Commissioner of Income Tax, U.P. Vs. Devi Prasad …
Operation Clean Money by Income Tax Department gets overwhelming response. More than 5.27 lakh taxpayers submitted response till 12-02-2017.

Operation Clean Money by Income Tax Department gets overwhelming response. More than 5.27 lakh taxpayers submitted response till 12-02-2017.

February 13, 2017 Income Tax
Operation Clean Money by Income Tax Department gets overwhelming response. More than 5.27 lakh taxpayers submitted response till 12-02-2017. Ministry of Finance Press Release Dated: 13th Feb, 2017 Operation Clean Money by IT Dept gets overwhelming response. More than 5.27 lakh taxpayers submitted their response till 12th February, …
ICAI-Increase in Annual Membership-COP Fees from 01-04-2017. Institute has revised the fees to be paid by chartered accountants

ICAI-Increase in Annual Membership-COP Fees from 01-04-2017. Institute has revised the fees to be paid by chartered accountants

February 13, 2017 ICAI
ICAI-Increase in Annual Membership-COP Fees from 01-04-2017. Institute has revised the fees to be paid by chartered accountants THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA New Delhi, the 9th February, 2017 NOTIFICATION No.1-CA(7)/179/2017:– In exercise of the powers conferred under sub-section (3) of section 4 and 5, sub-section …
unexplained cash credit u/s 68

Addition us 68 for accommodation entries-don’t shoot the messenger

February 12, 2017 Income Tax, ITAT
Addition us 68 for accommodation entries-don’t shoot the messenger. Addition restricted to commission earned on accommodation entries-ITAT  ABCAUS Case Law Citation:ABCAUS 1125 (2017) (02) ITAT Assessment Year : 1995-96Date/Month of Pronouncement: February, 2017 Brief Facts of the Case:The present judgment was delivered in the second round of litigation. …
Empanelment of Experts-Mediators Conciliators for 2017-18 Western Region, Mumbai. The last date is 15-03-2017

Empanelment of Experts-Mediators Conciliators for 2017-18 Western Region, Mumbai. The last date is 15-03-2017

February 12, 2017 Empanelment
Empanelment of Experts-Mediators Conciliators for 2017-18 Western Region, Mumbai. The last date for receiving application is 15-03-2017 before 5 PM Government of India Ministry of Corporate Affairs Office of the Regional Director, Western Region Eversest, 5th Floor, 100, Netaji Subash Marg, Mumbai-400002 NOTICE FOR INVITING APPLICATIONS FOR EMPANELLING  EXPERTS …
Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. AO did not detect it but noticed from reply of assessee

Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. AO did not detect it but noticed from reply of assessee

February 12, 2017 Income Tax, ITAT, Judgments
Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. The AO did not detect mistake but noticed it from the reply of the assessee – ITAT Judgment ABCAUS Case Law Citation: ABCAUS 1124 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 …