Income Tax

  • Income Tax

Addition on account of milling gain on adhoc basis without any enquiry or material on record deleted-ITAT

Addition on account of milling gain on adhoc basis without conducting any enquiry, without any cogent and specific reason or…

7 years ago
  • Income Tax

At admission stage, Settlement Commission not expected to call records invoking Section 245D(3)/Rule 9 or utilize the machinery available

At the stage of admission, Settlement Commission not expected or be compelled to utilizing the machinery available to call records…

7 years ago
  • Income Tax

CBDT Compounding of offences Guidelines not illegal or arbitrary. Principle of proportionality do not apply-High Court

CBDT Compounding of offences Guidelines not illegal or arbitrary. Principle of proportionality also not apply as fee is paid to…

7 years ago
  • Income Tax

Additions made due to typing error in Form 3CD is not legally permissible – ITAT

Additions made due to typing error in Form 3CD is not legally permissible where auditor of the assessee inadvertent committed…

7 years ago
  • Income Tax

Income Tax advisory/warning for cash transactions in excess of prescribed limits

The Income Tax Department has issued an advisory/warning for cash transactions in excess of prescribed limits.  DO NOT ACCEPT cash…

7 years ago
  • Income Tax

Assessee cannot be penalized for non response non attendance by creditors when all details are furnished-ITAT

Assessee cannot be penalized for non response or non attendance by creditors in response to notice when all details regarding…

7 years ago
  • Income Tax

No requirement to file Form-10B at the time of registration u/s 12AA. It is to be filed along with return-ITAT

No requirement to file Form-10B at the time of registration u/s 12AA. Audit Report in Form 10B is to be…

7 years ago
  • Income Tax

Educational qualification and age limit for TRP relaxed, incentive increased, non-refundable deposit made compulsory

Educational qualification and age limit for TRP relaxed, incentive increased, non-refundable deposit made compulsory as per Return Preparer (Amendment) Scheme,…

7 years ago
  • Income Tax

No Addition for cash deposits in bank when sufficient cash is in hand. Assessee not supposed to tally notes withdrawn and deposited

No Addition for cash deposits in bank when sufficient cash is in hand. Assessee not supposed to keep track of…

7 years ago
  • Income Tax

Concealment penalty deleted as assessee was unaware of capital gain tax on sale of property

Concealment penalty deleted as assessee was unaware of tax on sale of property. Assessee agreed to pay taxes on the…

7 years ago