• Income Tax

Mere AIR information that deposits made in bank account not indicative that income has escaped assessment u/s 147

10 years ago

In a recent judgment, ITAT Amritsar has upheld that the mere AIR information that deposits were made in a bank account do…

  • Income Tax

Additions u/s 69A upheld for maximum peak bank deposits instead of closing balances for the day

10 years ago

In a recent judgment, ITAT, Amritsar has ruled that CIT(A) was right in taking the the highest amount of cash deposits…

  • Income Tax

Assessing Officer to apply directly for PAN allotment in arrears demand cases without PAN

10 years ago

Income Tax Department has issued an instruction ( ITBA-PAN Instruction No.4) dated 1st March, 2016 to all Chief/Principal Commissioners regarding allotment of…

  • Income Tax

Selection of scrutiny for the cases selected manually on the basis of recommendations of CPC for AY 2013-14

10 years ago

Selection of scrutiny for the cases selected manually on the basis of recommendations of CPC for AY 2013-14 AST- Instruction…

  • Income Tax

Keyman Insurance Policy (KIP) Premium is an allowable business expenditure

10 years ago

In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) is an allowable business expenditure. Case…

  • Income Tax

Shipping charges using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995

10 years ago

ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal handling charges, Bunker adjustment factor,…

  • Income Tax

Expenditure incurred for software development are capital expenditure

10 years ago

Calcutta High Court in a recent judgment has held that expenditure incurred for software development was  capital expenditure Case Details: ITA…

  • Income Tax

Exemption u/s 10(22A) 10(23C)(iiiac)-Nexus between activities of hospital/institution and the income is essential for claim

10 years ago

In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A), existence of a nexus between…

  • Companies Act

CRC Processing Disposal of company registration e-form INC1 and related matters INC-2, INC-7 INC-29 INC-22, DIR-12 and URC-1A from 28-03-2016

10 years ago

Government of India Ministry of Corporate Affairs Notification New Delhi, 23rd March, 2016 S.O. (E) In exercise of the  powers…

  • Income Tax

CBDT asks assessees to file/revise return by including correct interest income for AY 2014-15 and 2015-16

10 years ago

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 23rd March,…