Month: March 2019
Exemption u/s 54F for plot in the name of HUF allowed by ITAT following High Court judgment as members of HUF were not stranger and money was contributed by assessee. ABCAUS Case Law Citation: ABCAUS 2817 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties CIT …
Addition for inadequate drawings deleted as the assessee was vegetarians and non alcohol, residing at small town with no luxurious life such as Health Clubs, star hotels etc. ABCAUS Case Law Citation: ABCAUS 2816 (2019) (03) ITAT The Revenue had filed the instant appeal against the order of …
It is not uncommon for a lady who is on her own to have cash for emergencies. ITAT upholds the deletion of addition for cash found during search ABCAUS Case Law Citation: ABCAUS 2815 (2019) (03) ITAT The Revenue had filed the instant appeal against the order of …
Safeguard Duty on Solar cells whether or not assembled inmodules or panels. Issue is sub judice before Supreme Court which stayed order of Orissa High Court F.No.276/206/2018-CX.8AGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect taxes & Customs)Legal Cell***** Wing 5 ‘C’ HUDCO-VISHALA BuildingBhikaji Cama Place, R.K. …
CBDT Withdraws approval u/s 35(1)(ii) of M/s Bioved Research Society, Allahabad for giving bogus entries to donors F. No. 203/31/2018-ITA (II)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes *** Room No. 245A North BlockNew Delhi, the 28th February, 2019 To All Principal Chief Commissioners of …
CBDT grants Retrospective exemption to startup companies from angel tax w.e.f. 19.02.2019 – Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 13/2019 New Delhi, the 5th March, 2019 S.O. 1131(E).—In exercise of the powers conferred by clause (ii) of the proviso to clause (viib) …
Substantial cash deposits during demonetisation, AO to complete best judgment assessment by 30th June 2019 where notices u/s 142(1) not responded CBDT vide letter dated 15.11.17 had issued a SOP for issue of notice u/s 142(1) of Income-tax Act, 1961 for filing of returns of income pertaining to …
High Court erred in relying upon previously set aside order of Settlement Commission and making it a part of their order for issuing writ- SC ABCAUS Case Law Citation:ABCAUS 2813 (2019) (03) SC Important Case Laws Cited/relied upon by the parties Brij Lal & Ors. vs. Commissioner of Income Tax, …
Assessee legally obliged to prove receipt of share capital/premium to the satisfaction of AO, failure of which justify addition – Supreme Court summarises emerging principles ABCAUS Case Law Citation:ABCAUS 2814 (2019) (03) SC Important Case Laws Cited/relied upon by the parties CIT v. Lovely Exports Pvt. Ltd (2008) …
Commission paid to employees partakes character of salary and TDS is applicable only u/s 192 not under Section 194H – ITAT deleted addition u/s 40(a)(ia) ABCAUS Case Law Citation: ABCAUS 2812 (2019) (03) ITAT In the appeal covered under the instant case,the assessee had challenged order of the …