Income Tax

  • Income Tax

Revision us 263 set aside as CIT did not do homework. No record was called for examining the issue or application of mind by CIT – ITAT

Revision us 263 set aside as CIT did not do homework. No record was called for examining the issue or…

7 years ago
  • Income Tax

Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted without objection-ITAT

Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted…

7 years ago
  • Income Tax

Ban on publishing Aadhaar number and demographic details along with other Personal sensitive information

Ban on publishing Aadhaar number and demographic details along with other Personal sensitive information in contravention of Aadhaar Act, 2016…

7 years ago
  • Income Tax

Deemed Dividend-Loan to firm where partners are shareholders of the company not considered deemed dividend u/s 2(22)(e)

Deemed Dividend-Loan to firm where partners are shareholders of the company. Advances not considered deemed dividend u/s 2(22)(e) ABCAUS Case…

7 years ago
  • Income Tax

Agriculture income tax – Finance Minister denies any plan of the Government to impose such tax

Agriculture income tax - Finance Minister denies any plan of the Government to impose such tax Ministry of Finance 26-April,…

7 years ago
  • Income Tax

Letting out buildings/developed space with other amenities in Industrial Park SEZ to be treated as business income-CBDT

Letting out  buildings/developed space with other amenities in Industrial Park SEZ to be treated as business income  Circular N o.…

7 years ago
  • Income Tax

Income Tax Rule 17CB Method of valuation of accreted income of the trust/institution for additional tax u/s 115TD(2)

Income Tax Rule 17CB Method of valuation of accreted income of the trust/institution for additional tax u/s 115TD(2)  Chapter XII-EB…

7 years ago
  • Income Tax

Interest on personal loan taken for business purpose allowed as business expenditure

Interest on personal loan taken for business purpose allowed as business expenditure. The assessee could very well attribute the interest…

7 years ago
  • Income Tax

Secretive commission payment not allowable us 37(1). Bribe to procure business is prohibited under explanation to Section 37(1)

Secretive commission payment not allowable us 37(1). It was in the nature of bribe to procure business which is prohibited…

7 years ago
  • Income Tax

Annual General Transfer List in the grade of JCIT-Addl CIT of Income Tax. CBDT Order 56 of 2017

Annual General Transfer List in the grade of JCIT-Addl CIT of Income Tax. Request Cases 36 Relaxation Cases 73 Mandatory…

7 years ago