Income Tax

  • Income Tax

Brought forward debit balance can not make assessment erroneous and prejudicial to the interest of the Revenue – ITAT

Brought forward debit balance can not make assessment erroneous and prejudicial to the interest of the Revenue - ITAT quashes…

6 years ago
  • Income Tax

Exclusions from both export and total turnover for deduction u/s 10A – CBDT Circular 4/2018

Exclusions from both export and total turnover for deduction u/s 10A - CBDT Circular 4/2018. All charges/expenses in Explanation 2(iv)…

6 years ago
  • Income Tax

Compensation paid to retiring partner on family settlement allowed as deduction to firm

Compensation paid to retiring partner consequent to family settlement-Deduction allowed as capital of firm was kept intact and business was…

6 years ago
  • Income Tax

Interest for late payment of service tax not penal in nature u/s 37 but only compensatory – ITAT

Interest for late payment of service tax not penal in nature but only compensatory. ITAT deletes disallowance made under section…

6 years ago
  • Income Tax

Deliberate non production of books of account is concealment of income – High Court

Deliberate non production of books of account held as concealment of income. Books maintained in computer even if lost can…

6 years ago
  • Income Tax

Tahbazari is not covered under TCS provisions u/s 206C(1C). Toll plaza are different from Tahbazari

Tahbazari is not covered under TCS provisions u/s 206C(1C).  Toll plaza does not include Tahbazari as there is no toll…

6 years ago
  • Income Tax

Agricultural land-revenue records can not be rejected without any basis or material evidence-ITAT

Agricultural land-revenue records can not be rejected without any basis or material evidence holding it to be an mechanical entry…

6 years ago
  • Income Tax

Judicial Magistrate, 1st Class Kamrup (M) Guwahati designated as Special Court for prosecution of offences under Income Tax Act

Court of Munsiff No. 3 -cum-Judicial Magistrate, 1st Class Guwahati designated as Special Court for prosecution of offences under Income…

6 years ago
  • Income Tax

Chapter VI-A deduction allowable on disallowance u/s 40(a)(ia) for profits of the eligible business so enhanced – ITAT

Chapter VI-A deduction allowable on disallowance u/s 40(a)(ia) for profits of the eligible business so enhanced by the disallowance- ITAT…

6 years ago
  • Income Tax

Income Tax Notices to non-resident assesses on receiving information on holding assets

Income Tax Notices to non-resident assesses. On receiving information on holding assets by NRIs, necessary enquiry is made for disclosure and source Income…

6 years ago