• Income Tax

Applying registration u/s 12AA without surrendering PAN of firm was Fraud

12 months ago

Assessee committed fraud by applying registration u/s 12AA without surrendering earlier PAN issued as firm in the very same name…

  • Income Tax

50 % expenditure allowed from Consultancy services without proof of expenses

12 months ago

50 percent expenditure allowed from Consultancy services without proof of expenses in view of the provisions of section 44ADA ABACUS…

  • Income Tax

Penalty u/s 272A(1)(d) deleted as counsel misled and not informed of assessment/penalty

12 months ago

Penalty u/s 272A(1)(d) deleted as counsel misled by filing inaccurate return and not informed of assessment and penalty notices  ABCAUS…

  • Income Tax

Gain on sale of fixed assets held not taxable under income tax act

12 months ago

Gain on sale of fixed assets was not taxable under income tax act as sale consideration was reduced from block…

  • Income Tax

CBDT notifies new Rule 133 for furnishing details of TDS u/s 194BA. Form 16 revised

12 months ago

CBDT has notified new Income Tax Rule 133 for furnishing details of TDS u/s 194BA in quarterly TDS Statements .…

  • Income Tax

CBDT issues FAQs clarifying provisions of TDS u/s 194BA on online games winnings

12 months ago

    CBDT issues FAQs / Guidelines clarifying provisions of TDS u/s194BA on winnings from online games - Read Circular…

  • Income Tax

Exemption u/s 54B denied for investment made in the name of wife

12 months ago

Exemption u/s 54B denied for investment in agricultural land made in the name of wife. ITAT followed decision of jurisdictional…

  • Income Tax

Income Tax relief u/s 90 can not be denied for mere delay in filing Form No. 67

12 months ago

Income Tax relief u/s 90 for tax paid in a foreign country can not be denied for mere delay in…

  • Income Tax

CBDT proposes changes to Rule 11UA of Angel TAX- Excluded Entities to be notified

12 months ago

CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to  notify Excluded Entities In the Finance…

  • Income Tax

Merely accepting disallowance does not mean assessee under reported income u/s 270A

12 months ago

Merely because assessee accepted disallowance made by Assessing Officer, it cannot automatically lead to conclusion that assessee under reported income…