Income Tax

  • Income Tax

Madras High Court directs CBDT to allow carry forward losses for return filed after due date midnight due to heavy rush, snag at e-filing website

In a recent judgment, the Madras High Court has directed CBDT to accept the e-return filed by the appellant company…

8 years ago
  • Income Tax

Madras HC upholds Constitutional validity of section 94A (1) and CBDT Notification 86/2013 related to Cyprus

In a recent judgment, the Madras High Court has upheld the Constitutional validity of section 94A(1) of the Income tax Act,…

8 years ago
  • Income Tax

CIT Revision u/s 263- the word ‘erroneous’ includes the failure to make an inquiry when circumstances would make such it prudent

In a recent judgment, ITAT held that  the word ‘erroneous’ in section 263 includes the failure to make an inquiry when…

8 years ago
  • Income Tax

Addition u/s 69 for discrepancies in stocks was business income to be considered for computing partners remuneration under Section 40(b)

In a recent judgment, ITAT Chennai has upheld that Addition u/s 69 for discrepancies in stocks was business income and has…

8 years ago
  • Income Tax

No disallowance u/s 40A(2)(b) when payees assessed at maximum rate. Excessive directors remuneration disallowance quashed

In a recent judgment, Ahmedabad ITAT quashed disallowance for excessive directors remuneration stating that section 40A(2)(b) disallowance is not to be invoked when…

8 years ago
  • Income Tax

CPC(TDS) Advisory-Deposit TDS and TDS Defaults Demand for Purchase of Immovable Property (26QB Statement-cum-challan)

CPC(TDS) Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property (26QB…

8 years ago
  • Income Tax

India and Maldives signed two agreements for exchange of information on taxes/avoidance of double taxation of income from international air transport

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11th April,…

8 years ago
  • Income Tax

Reopening notice u/s 148 served by affixture at a wrong address and consequent re-assessment made u/s 147/148 invalid.

In a latest judgment, ITAT Chandigarh has held that notice u/s 148 of the Income Tax Act, 1961 served upon by affixture at…

8 years ago
  • Income Tax

Excel Auto Income tax Calculator AY 2016-17 FY 2015-16 download for all heads of income, salary, business, capital gains, house Property, etc.

ABCAUS Excel Income Tax Calculator for Assessment Year 2016-17 (FY 2015-16) is excel based calculator is automatic, e.g. users are…

8 years ago
  • Income Tax

Post office not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period not service to the assessee.

In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2)…

8 years ago