No disallowance for cash payments u/s 40A(3) if genuineness of transactions and identity of the payee is established. ITAT deleted…
Procedure for Scrutiny assessment of Startup Companies on application of section 56(2)(viib). Clarification by CBDT Circular No. 16/2019 Government of…
Launch of ITBA Refund Banker Module-Refund Blocking/ Unblocking and Revalidation Functions ITBA- Refund Banker Instruction No.1 DIRECTORATE OF INCOME TAX…
Reopening for not replying to invalid and non est inquiry letter for cash deposited in bank quashed. Deposit per se…
Addition u/s 69B for difference in stock from statement given to Bank deleted as in preceding year it was deleted…
Facility of e-Verification (EVC) of Return (ITR) without login enabled at e-filing portal Income Tax e-filing website has launched 'e-Verify…
No Penalty u/s 271(1)(c) for mere disallowance in quantum proceedings in the absence of any falsity in the explanation offered…
Assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss u/s 28 of…
Mere reflection of income in P&L Account does not make it business income. Books of accounts not conclusive evidence to…
CBDT reduces tax collection target for FY 2019-20 by Rs. 45000 crores, from 13.80 crores to 13.35 crores In May…