Income Tax

  • Income Tax

Recovery of Tax from Travel Khana not on account of angel tax-CBDT justifies action

Recovery of Tax from Travel Khana not on account of angel tax-CBDT justifies action and clarifies that addition was made…

5 years ago
  • Income Tax

Jewellery Bills found during search-Benefit of CBDT Instruction available if only bills are found

Jewellery Bills found during search-benefit of CBDT Instruction can not be denied if only bills are found and the jewellery…

5 years ago
  • Income Tax

Interest free Advances by charitable society-ITAT rules out violation of Income Tax provisions

Interest free Advances by charitable society-ITAT rules out violation of provisions of Section 13(1)(c) and 13(1)(d) of the Income Tax…

5 years ago
  • Income Tax

No disallowance u/s 43B when unpaid custom duty included in closing stock – SLP dismissed by SC

No disallowance u/s 43B when unpaid custom duty was included in the value of the closing stock - Supreme Court…

5 years ago
  • Income Tax

No Penalty u/s 271(1)(c) for addition on account of closing stock valuation by adopting a different method

No Penalty u/s 271(1)(c) for addition on account of closing stock valuation by adopting a different method when there is…

5 years ago
  • Income Tax

Monetary limits for filing of income tax appeals extended to Wealth tax matters also

 Monetary limits for filing of income tax appeals as per CBDT Circular 3 of 2018 extended to Wealth tax matters…

5 years ago
  • Income Tax

When details are maintained donations cannot be called anonymous u/s 115BBC

When details are maintained donations cannot be called anonymous u/s 115BBC merely for notices u/s 133(6) returned unserved ABCAUS Case…

5 years ago
  • Income Tax

Order giving effect to appellate order is also appealable u/s 246A

Order giving effect to appellate order is also appealable u/s 246A of the Income Tax Act. If appeals allowed on…

5 years ago
  • Income Tax

Condonation of delay u/s 119(2)(b) for mistake of CA allowed by High Court

Condonation of delay u/s 119(2)(b) for mistake of chartered accountant allowed. limitation when lead to hardships, should be construed in…

5 years ago
  • Income Tax

Merely because share prices rose abnormally exemption u/s 10(38) can not be denied

Merely because share prices rose abnormally or other persons involved bogus transactions, Long Term Capital Gain exemption u/s 10(38) can…

5 years ago