Author: administrator
Bad debt written off claim us 361vii Circular No. 12/2016 F.No.279/Misc./140/20 15-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi , Dated 30th May, 2016 Subject:- Admissibility of claim of deduction of Bad Debt under section 36(1)(vii) read with section …
CSR activities through charitable company trust society and track record requirement. MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 23rd May, 2016 G.S.R. 540(E).—In exercise of the powers conferred under section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), …
Striking off name of company us 560-ROC order set aside Delhi High Court restored the name of the company by setting aside the order of ROC striking off the name of the company u/s 560 of the Companies Act, 1956 holding that the object of section 560(6) of the …
Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to sustain the addition. This was upheld by ITAT Chennai in a recent judgment as under: Case Details: ITA Nos. 300 to 303/Mds/2016 Assessment Years : 2010-11 to 2013-14 M/s. …
The Direct Tax Dispute Resolution Scheme Rules 2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 26th May, 2016 Notification No.35/2016 S.O. 1903 (E). In exercise of the powers conferred by sub-sections (1) and (2) of section 211 of the Finance Act, 2016, (28 …
Penalty us 271C-Contumacious conduct of assessee necessary to be established before penalty for failure to deduct tax at source (TDS) can be imposed-Supreme Court Case Details: Civil Appeal No. 1704 of 2008 Commr. of Income Tax Delhi (Appellant) vs. Bank of Nova Scotia (Respondent) Date of Judgment: 07/01/2016 Coram: …
The other day Times of India carried a post titled “Not just pals, taxmen also tracking FB for your foreign trip pic”. As per the post, Income Tax Officials are keeping a tab on taxpayers facebook Profiles for tracking their posts/pics of foreign trips, new cars etc. No …
Self-made cash payment vouchers disallowance additions made for truck hire charges doubting genuineness of expenditure without making any enquiry was deleted by ITAT Kolkata. Case Law Details: I.T.A. No. 1182 /KOL/ 2013 Assessment Year: 2008-2009 Assistant Commissioner of Income Tax vs. Shyam Sundar Agarwal Date of Judgment/Order: 27/05/2016 Important …
No disallowance us 14A on presumption only-If the assessee has not claimed any expenditure on exempt income and there can not be any disallowance under section 14A on mere presumption. This was held by ITAT Kolkata in a recent judgment as under: Case Law Details: I.T.A No. 1336/Kol/2013 …
Indirect expenses can never be in proportion to sale. There was no reason to ask justification to explain variation in expenses for the fluctuation in sales and make addition of projected expenses on the basis of increase in sale. This was held by ITAT, Chandigarh while quashing additions …