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In case there is no change in the facts, situation or in law, the Revenue cannot be allowed to adopt a different stand. Rental income is treated as income from house property and not income from profession or profession. Case Details: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” Asstt. …
In case of purchases made from small raddi-walas/kabadi-walas it is not practically possible to have them supported by bills. It is equally not possible to furnish details of such small raddi-walas/kabadi-walas. Case Details: INCOME TAX APPELLATE TRIBUNAL AHMEDABAD ITA. No: 1360 & 1552/AHD/2012 (Assessment Year: 2006-07) ITA. No: 1361 & 1553/AHD/2012 …
Securities and Exchange Board of India PR No. 56/2016 SEBI Board Meeting The SEBI Board met in New Delhi today and took the following decisions: A. Imposing restrictions on wilful defaulters The Master Circular on “Wilful Defaulters” issued by the Reserve Bank of India from time to …
Unexplained expendiure addition u/s 69C made for peak negative cash balance without giving benefit of capitalisation of sums disclosed in earlier assessment years deleted INCOME TAX APPELLATE TRIBUNAL, DELHI BENCHES, NEW DELHI (CIRCUIT BENCH AT MEERUT) ITA No. 6787/DEL/2011 (Asstt. Year: 2011-12) Rajeev Rastogi vs. ACIT Date of …
Deduction u/s 80IC avaialble for manufacturing of PET bottles, Caps, jars etc. which are not plastic articles and do not fall in the negative list items mentioned in the 13th schedule. INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI ITA No. 1309Del/2013 Assessment Year: 2009-10 ITO vs. M/s Om Shree …
Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor . Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11 th March, 2016 The Central Board of Direct Taxes …
While reversing the order of the CIT(A) the Tribunal is duty bound to examine and discuss the reasons given by the CIT(A) to hold one way or the other and then to dispel those reasons. If the Tribunal fails to make such an exercise the judgment will suffer …
The deduction u/s 33AB of the Income Tax Act, 1961 shall be allowed from the total composite income derived from growing and manufacturing tea and only after such deduction is made, Rule 8(1) shall be applied to apportion income between agricultural and non-agricultural income . HIGH COURT AT CALCUTTA ITA 360 …
When the company was compensated by way of interest on loan taken, the assessee shareholder in real sense did not derive any benefit from the funds of the Company so as to attract the provisions deemed dividend under section 2(22)(e). INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘C’ BENCH, KOLKATA I.T.A. …
The fair market value of the property as on 01.04.1981 by the Registered Valuer on the basis of prevailing market rate from the relevant records of Sub-Registry Office as well as inquiry made from local market cannot be said that the valuation done without any basis. INCOME TAX APPELLATE …
