Month: January 2019
Tribunal declined to issue direction to AO to reopen cases under section 147 as Department have enough powers u/s 147, 263 and 154 to tax escaped income ABCAUS Case Law Citation: ABCAUS 2701 (2019) (01) ITAT Important Case Laws Cited/relied upon: ITO Vs. Muralidhar Bhagwan das 52 ITR …
Reopening limitation period not stood extended merely for passing reference made by the ITAT when assessee was not a party to the case and was not given opportunity of being heard. ABCAUS Case Law Citation: ABCAUS 2700 (2019) (01) ITAT Important Case Laws Cited/relied upon: Rural Electrification Corporation …
Market value of property with encroachment would always be lower – ITAT directs adoption of valuation u/s 50C prevalent on the date of agreement to sale ABCAUS Case Law Citation:ABCAUS 2699 (2019) (01) ITAT Important Case Laws Cited/relied upon:Dara Singh Vs. ITO Ward-1(2), Ghaziabad and ITA No.2213/Del/2018Sanjeev Lal …
When assessee surrendered exemption claimed on the condition that penalty proceedings u/s 271(1)(c) are not initiated there was no question of concealment of income or furnishing of inaccurate particulars of income. ABCAUS Case Law Citation: ABCAUS 2698 (2019) (01) ITAT Important Case Laws Cited/relied upon: CIT vs. Manjunatha …
CBDT withdraws controversial Circular No. 10/2018 on applicability of section 56(2)(viia) for shares issued by company in which public not substantially interested F. No . 173/616/2018-ITA-IGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes(ITA-I Division) Circular No. 02/2019New Delhi, the 04 January, 2019 Sub: …
CBDT Chairman asks for Special efforts for collection of Regular Assessment Tax, directs strategies for quarter ended March 2019 CBDT Chairman in a Office Memo addressed to all Pr. Chief Commissioner of Income-tax as aksed them to enhanced efforts for maximization of direct tax collections with special efforts …
Charges for Conversion of residential house usage to commercial revenue expenses as they are incurred on year-to-year basis and nor result in enduring benefit – ITAT ABCAUS Case Law Citation:ABCAUS 2697 (2019) (01) ITAT The appeal by the assessee was directed against order passed by the Commissioner of …
IGST Export Refunds-resolution of Export General Manifest errors. Non filing both local and Gateway EGM, details mismatch, Non-filing stuffing report. Circular No. 01/2019-Customs F. No: 450/119/2017-Cus-IV Government of India Ministry of Finance Dept. of Revenue (Central Board of Indirect Taxes and Customs) ***** Room No. 227B, North Block, …
CIT(A) in cryptic order can not reject reconciliation of difference between gross receipts and Form No. 26AS filed before him on the ground that it did not resolve. ABCAUS Case Law Citation:ABCAUS 2696 (2019) (01) ITAT The instant appeal by the assessee was directed against the order of …
Eligibility of deemed Exports through third party for deduction u/s 10B-Supreme Court dismisses SLP of the Income Tax Department ABCAUS Case Law Citation:ABCAUS 2695 (2019) (01) SC Important Case Laws Cited/relied upon:M/s. International Stones India Pvt. LtdM/s.Tata Elxsi Ltd. The Karnataka High Court had reiterated that the assessee …