Category: Income Tax
Prosecution proceedings under Income Tax to be clubbed for different complaint cases on same material, evidence, documents and allegations ABCAUS Case Law CitationABCAUS 3425 (2020) (11) HC Important case law relied upon by the parties:Chandni Srivastava vs. CBI & OrsMohan Baitha vs. State of Bihar AIR 2001 SC …
CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website mandatory for every kind of …
Cash deposits out of sale of opening stock not unexplained income. High Court upheld ITAT order which followed rule of consistency ABCAUS Case Law CitationABCAUS 3424 (2020) (11) HC In the instant case, the Revenue had challenged the order passed by the ITAT in deleting the addition on …
Reopening notice u/s 148 on wrong presumption that assessee not filed return of income quashed by Tribunal as non application of mind ABCAUS Case Law CitationABCAUS 3423 (2020) (11) ITAT Important case law relied upon by the parties:Pr. CIT vs. RMG Polyvinyl (2017) 83 taxmann.com 348 (Delhi)/ 396 …
CBDT makes 643 transfers / posting in the grade of Commissioner of Income Tax (CIT) Due to the implementation of the Faceless Assessment Scheme, the posts of Commissioner of Income Tax (Appeals) have been diverted to the newly created National Appellate Faceless Centre (NAFC) Delhi and four Regional …
Income Tax Relief to home buyers from deeming fiction u/s 43CA and 56(2)(x). Difference limit between circle rate & purchase price increased to 20 per cent Section 43CA of the Income Tax Act, 1961 (the Act) lays down special provision for full value of consideration for transfer of …
ITAT rejects and disbelieves cash gifts by close relatives at the time of marriage and anniversary as no such evidence was found during search ABCAUS Case Law CitationABCAUS 3420 (2020) (11) ITAT Important case law relied upon by the parties:Dhirajlal Girdharlal vs. CIT 26 ITR 736(SC)Omar Salay Mohamed …
NSDL latest e-TDS TCS Return Preparation Utility (RPU) Version 3.4 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS File validation utility (FVU) versions 2.165 up to FY 2009-10 and Version 6.9 for FY 2010-11 onwards have also been released NSDL latest …
Mesne profits and interest on mesne profits awarded by Court for unauthorised occupation by tenant taxable tax u/s 23(1) ABCAUS Case Law CitationABCAUS 3419 (2020) (11) HC Important case law relied upon by the parties:CIT vs. P. Mariappa Gounder 147 ITR 676CIT vs. Smt. Leela Ghosh 205 ITR …
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10BB for Assessment Year 2016-17 and subsequent years Circular No. 19/2020 F. No.197/135/2020-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the …
