Income Tax

  • Income Tax

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148…

8 years ago
  • Income Tax

Addition us 68 remanded back for short time lag between inquiry initiation and conclusion when the evidence was to be produced in just 10 days

Addition us 68 remanded back by ITAT for short time lag between inquiry initiation and conclusion when the evidence was…

8 years ago
  • Income Tax

Gift received from Step Father not taxable us 56(2)(vi) as income from other sources in view of meaning of relatives as per Explanation to section 56(2)

Gift received from Step Father not taxable us 562vi as income from other sources. The Explanation to section 56(2) would indicate…

8 years ago
  • Income Tax

Bad Debts written off as irrecoverable must form part of income. ITAT specifies 6 requisite conditions to be adhered for allowance of bad debts.

Bad Debts written off as irrecoverable must form part of income. The assessee can claim bad debts by just writing off…

8 years ago
  • Income Tax

ICAI coaching income exempt us 11. The institute is an educational institute and its activities falls within the meaning of charitable purpose u/s 2(15)-ITAT

ICAI income exempt us 11. The institute is an educational institute and its coaching activities falls within the meaning of…

8 years ago
  • Income Tax

Rented Building Renovation-Repair Expenses are Current Repairs allowable u/s 30. Accumulated repairs not allowed only when assessee owns building-ITAT

Rented Building Renovation-Repair Expenses are Current Repairs allowable u/s 30. Accumulated repairs not allowed only when assessee owns building, as…

8 years ago
  • Income Tax

House Property Rent or Business Income-Activity not ownership is decisive.

House Property Rent or Business Income-Activity not ownership is decisive. ITAT Chennai, following Supreme Court Judgment upheld bifurcation of rent…

8 years ago
  • Income Tax

installation services integral to contract not FTS under DTAA-Delhi High Court

Installation services integral to contract not FTS under DTAA. This was held by Delhi High Court in a recent judgment…

8 years ago
  • Income Tax

IDS 2016 Download Form-1 Java Utility. Declaration of undisclosed income u/s 183 of Finance Act 2016

Income Declaration Scheme 2016 Download Form1 Java Utility  Form 1 is available for e-Filing. To download Form 1, Go to…

8 years ago
  • Income Tax

PAN Application Revised Fee from 01/06/2016 after imposition of Krishi Kalyan Cess (KKC)

PAN Card Application Revised Fee from 01/06/2016 As per NSDL notice, the PAN Card application fees have been revised after Krishi…

8 years ago