Specifying limb of penalty section 271(1)(c) arises only when addition is made by the AO and not where assessee surrenders…
ITAT explains the law on exemption u/s 10(2A) for partners share of profit in the income of the firm. Revision…
Amendment to section 32(2) is not prospective. Unabsorbed depreciation can be carried forward beyond 8 years, prior to amendment-High Court…
Addition for accommodation entries merely based on statement of investors and without controverting the documents furnished invalid-High Court Prelude: The…
Sharp increase in cases of prosecutions by Income Tax Department The Income Tax Department has accorded the highest priority to…
Having afforded a hearing, ITO can not attach assessee’s bank straightway without informing as to whether the stand taken by…
Comparable company following calendar year for maintaining accounts can not be used in contrast to assessee following financial year ending…
e-TDS/TCS RPU version 2.2 for TDS returns released by NSDL The New e-TDS/TCS Return Preparation Utility Ver. 2.2 released by NSDL today…
Income Tax Department steps-up actions under Prohibition of Benami Property Transactions Act. Benami properties of more than Rs. 3,500 crore…
How to submit Taxpayers response to intimation u/s 143(1)(a)(vi) for mismatch of income from 26AS Form-16 or 16A. CBDT circular…