CBDT-SOP for implementation of Prohibition of Benami Property Transactions Act 1988 following setting up of dedicated Benami Prohibition Units (BPUs)
CBDT (Investigation Division) has issued a Standard Operating Procedure (SOP) with regard to implementation of Prohibition of Benami Property Transactions Act, 1988 [as amended by Benami Transactions (Prohibition) Amendment Act, 2016], following setting up of dedicated Benami Prohibition Units (BPUs) under each PDIT(Inv).
The SOP along with brief guidance note contains salient features of the Prohibition of Benami Property Transactions Act, 1988 (the Act) [as amended by the Benami Transactions (Prohibition) Amendment Act, 2016] to sensitise Departmental officers concerned for due implementation of the new law.
A claim of deduction made in return, even if found inadmissible, does not automatically lead to misreporting of income -…
After holding that the cash receipts and cash payments are unexplained, ad-hoc estimation of income can not be adopted –…
Dividing total turnover by 365 days and concluding that assessee could not have made such cash sale on a single…
NERIST Arunachal Pradesh invites EoI for Empanelment of Chartered Accountant firm North Eastern Regional Institute of Science and Technology, (NERIST)…
Sibsagar University invites Expression of Interest (EOI) for Appointment of Internal Auditor Sibsagar University invites Expression of Interest (EOI) from reputed…
In a recent judgment Andhra Pradesh High Court struck down Section 147A of the Income Tax Act, 1961 as unconstitutional.…