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F. No. 11/21022/36{027)/2015-FCRA-II Government of India Ministry of Home Affairs Foreigners Division (FCRA Wing) 1st Floor, NDCC-11 Building, Jai Singh Road, New Delhi- 110001. Dated the 29th March, 2016 . NOTICE Regarding Validity and Renewal of Registration under FCRA, 2010 Ministry of Home Affairs is mandated to .administer …
Sukanya Samriddhi Account Rules 2016 Government Notification The Government has amended Sukanya Samriddhi Account Rules 2014 by 2016 Rules MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 18th March, 2016 G.S.R.323(E).- In exercise of the powers conferred by section 15 of the Government Savings Banks …
In a recent judgment, ITAT Amritsar has upheld that the mere AIR information that deposits were made in a bank account do not indicate that these deposits constitute an income which has escaped assessment. Case Details: ITA No.129(Asr)/2015 Assessment year:2005-06 Ashwani Kumar vs. Income Tax Officer Date of Order/Judgment: 23/02/2016 Facts …
In a recent judgment, ITAT, Amritsar has ruled that CIT(A) was right in taking the the highest amount of cash deposits in the Bank Account at any point of time as maximum peak credit instead of considering the closing balances for the day instead for making addition u/s 69A Case …
Income Tax Department has issued an instruction ( ITBA-PAN Instruction No.4) dated 1st March, 2016 to all Chief/Principal Commissioners regarding allotment of Permanent Account Number (PAN) in arrears demand cases. The instruction has been issued in response to the references received from field formations about the requirement of allotment of …
Selection of scrutiny for the cases selected manually on the basis of recommendations of CPC for AY 2013-14 AST- Instruction No. 141 DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2,Jhandewalan Extension, New Delhi-110055 F.No. DGIT(S)/ADG(S)-2/CASS/2014-15 …
In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) is an allowable business expenditure. Case Details: I.T.A No. 20(Asr)/2013 Assessment Year: 2007-08 Freewill Sports Pvt. Ltd vs. ACIT Date of Order/Judgment: 22/03/2016 Brief Facts of the Case: The only issue involved in this appeal …
ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal handling charges, Bunker adjustment factor, Cost adjustment factor, etc) using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995 Case Details: ITA No.257(Asr)/2014 Assessment year:2006-07 PMS …
Calcutta High Court in a recent judgment has held that expenditure incurred for software development was capital expenditure Case Details: ITA No. 278 OF 2007 Indian Aluminium Co. Ltd Versus Commissioner of Income Tax-III Kolkata Date of Judgment: 18/03/2016 Question of Law: Whether on the facts and in the …
In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A), existence of a nexus between the hospital or an institution engaged in any one of the five activities, and the income is essential. Kindly note that the said section 10(22A) has since been …
