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.
ITAT allows exemption u/s 54 allowed despite failure to deposit the amount in Capital Gains Accounts Scheme and new asset…
Addition cannot be made in the hands of the assessee solely on the basis of uncorroborated loose-sheet - ITAT In…
ITAT dismisses claim of Leave Encashment exemption u/s 10(10AA)(ii) beyond Rs. 3 lakhs In a recent judgment, ITAT Ahmedabad has…
Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh - ITAT…
Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be…
When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation…