Income Tax

  • Income Tax

CBDT sets up Committee for review & updation of Search and Seizure Manual last published in 2007

CBDT sets up Committee for review & updation of Search and Seizure Manual published in 2007. Committee to submit revised…

6 years ago
  • Income Tax

Depreciation claimed on land was not sheer mistake-HC upheld sentence u/s 276C/277 of IT Act, 1961

Depreciation claimed on land was not sheer mistake. High Court upheld sentence u/s 276C/277 of the Income Tax Act, 1961…

6 years ago
  • Income Tax

CBDT signs first ever two Indian APAs with Netherlands in Nov-2017

CBDT signs first ever two Indian APAs with Netherlands in Nov-2017. The total number of APAs entered into by the…

6 years ago
  • Income Tax

Unauthorized expansion of the scope of limited scrutiny-CBDT puts AOs violating instructions under suspension

Unauthorized expansion of the scope of limited scrutiny-CBDT puts AOs violating its instructions under suspension and advises all to comply…

6 years ago
  • Income Tax

Transfer of capital from proprietorship to partnership was not reconstruction u/s 10AA – High Court

Transfer of capital from proprietorship to partnership was not reconstruction u/s 10AA, dis entitling the assessee firm the benefit of exemption-High Court …

6 years ago
  • Income Tax

It is for assessee to decide how to utilize loan in business, Court not to substitute its opinion

It is for assessee to decide how to utilize loan in business, Court not to substitute its opinion over his…

6 years ago
  • Income Tax

No addition for inflated statement of stock submitted to banker – High Court

No addition for inflated statement of stock submitted to banker when no discrepancy was found in physical verification and books…

6 years ago
  • Income Tax

Statements made by stranger-third party in search case unless connected/corroborated can not lead to adverse consequences

Statements made by stranger-third party in search case unless connected or corroborated could not be attributed to or lead to…

6 years ago
  • Income Tax

CBDT Instruction of tax effect applies to pending appeals also – Supreme Court

CBDT Instruction of tax effect applies to pending appeals also subject to the two caveats provided in Surya Herbal Ltd.…

6 years ago
  • Income Tax

Section 80-IC deduction unavailable on fixed deposit interest–High Court

Section 80-IC deduction unavailable on fixed deposit interest–High Court. The  benefit is available only for carrying on business mentioned in…

6 years ago