Income Tax

  • Income Tax

Mere earlier withdrawals no basis for explaining subsequent cash deposited in bank – ITAT

Merely cash withdrawals at one point of time cannot be a sole basis for explaining the cash deposit in future.…

5 years ago
  • Income Tax

Without further examining info from Investigation, AO can not conclude that income escaped assessment

AO should examined return of income and carry out initial investigation before coming to the conclusion that income has escaped…

5 years ago
  • Income Tax

Income Tax on Start Ups-No coercive measures to recover outstanding demand – CBDT

Determination of fair market value of unquoted equity shares of 'Start Up' companies under section 56(2)(viib) of the  Income-tax  Act,…

5 years ago
  • Income Tax

Manual filing application for lower/no TDS/TCS allowed for limited period-CBDT Order

Exception from online filing of application under section 197 and 206C (9) in the cases of NRIs and resident applicants…

5 years ago
  • Income Tax

Not providing certified copy of order, reasonable basis for condonation of delay in filing appeal

Not providing certified copy of penalty order was reasonable basis for seeking condonation of delay in filing the appeal before…

5 years ago
  • Income Tax

271(1)(c) Penalty -Unspecified charge in notice can be made good in penalty order

Penalty U/s 271(1)(c)-Unspecified charge in notice can be made good with a clear-cut finding in penalty order - ITAT explains…

5 years ago
  • Income Tax

Tax Authorities authorised to monitor/intercept electronic information, stored in any computer

Tax Authorities can now keep a watch on electronic information generated, transmitted, received or stored in any computer resource Section…

5 years ago
  • Income Tax

CBI has booked a Delhi based CA & lady Income Tax Inspector in a bribe case

CBI has booked a Delhi based Chartered Accountant (CA) in a alleged Bribery case. A lady Income Tax Inspector has…

5 years ago
  • Income Tax

CBDT authorizes CIT to admit belated Form No. 9A / 10 for AY 2016-17-Circular

CBDT authorizes CIT u/s 119(2)(b) to admit belated applications in Form No. 9A and Form No.10 in respect of AY…

5 years ago
  • Income Tax

Evasion of tax vs. evasion of payment of tax. High Court quashed prosecution u/s 276C(2)

Prosecution 276C(2) - Evasion of tax vs evasion of payment of tax. High Court quashed prosecution when ITAT reduced income…

5 years ago