Income Tax

  • Income Tax

Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT

Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not…

8 years ago
  • Income Tax

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business – ITAT

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business a…

8 years ago
  • Income Tax

Keeping cash in bank not in hand not mandatory under any law. Cash deposited in bank from withdrawals made long back accepted – ITAT

Keeping cash in bank not in hand not mandatory under any law. Cash deposited in bank from withdrawals made long…

8 years ago
  • Income Tax

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled…

8 years ago
  • Income Tax

Notional interest on loans-advances when no such agreement – It is not necessary to pay interest in absence of such arrangement. Additions deleted by ITAT

Notional interest on loans-advances when no such agreement - It is not necessary to pay interest in the absence of such…

8 years ago
  • Income Tax

IDS Scheme 2016 Amendment in Form-2 Form-3 related to Acknowledgement and Payment Intimation CBDT Notification No. 70/2016

IDS Scheme 2016 Amendment in Form-2 Form-3 related to Acknowledgement and Payment Intimation  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL…

8 years ago
  • Income Tax

Adverse view on evidence without opportunity to cross examine witness by the assessee is wrong – ITAT

Adverse view taken on evidence without opportunity to cross-examine It is settled proposition of law that whenever the AO intends to…

8 years ago
  • Income Tax

CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income and revised return not accepted – ITAT

CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income…

8 years ago
  • Income Tax

CBDT extends IDS Form-2 acknowledgment issuance time to 30 days from 15 days for declarations filed under IDS Scheme in the month of July 2016

CBDT extends IDS Form-2 acknowledgment  issuance time to 30 days from 15 days for declarations filed under IDS Scheme in…

8 years ago
  • Income Tax

Amendment to convention Between India-Mauritius DTAA and Prevention of fiscal evasion of income taxes, capital gains, mutual trade-investment encourgement

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 10th August, 2016 (INCOME-TAX) S.O. 2680(E).—Whereas, a Protocol amending the…

8 years ago