Category: Income Tax
Functionality for Demand Adjustment u/s 245 by AO in ITBA ITBA- Assessment- Demand Adjustment by AO u/s 245 Instruction No.13 DIRECTORATE OF INCOME TAX (SYSTEM)ARA Center, Ground Floor, E-2, Jhandewalan ExtensionNew Delhi – 110055 F.No.System/ITBA/ Instruction /Assessment/ Demand Adjustment by AO u/s 245/2019-20/1906 Dated: 19/2/2020 ToAll Principal Chief …
CBDT notifies Forms for exercising option for reduced corporate tax rate u/s 158BAA / 158BAB by domestic companies MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th February, 2020 INCOME-TAX G.S.R. 110(E).—In exercise of the powers conferred by section 115BAA and section 115BAB …
Processing of ITRS filed during FY 2018-19 u/s 139, in response to notice u/s 142(1) or u/s 119(2)(b) getting time barred ITBA-ITR Processing Instruction No- 10 DIRECTORATE OF INCOME TAX (SYSTEM)ARA Center, Ground, Floor E-2, Jhandewalan ExtensionNew Delhi – 110055 F.No. Pr. DGIT(S)/ITBA/ITR Processing/112/16-17/ Dated: 18.02.2020 ToAll Principal …
Condonation of delay by CIT(Exemptions) u/s 119(2)(b) for filing Form 9A 10 where ITRs have also been filed beyond due date Circular No. 6/2020 F.No.197/55/20 18-ITA-IGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes***** New Delhi, the 19th February, 2020 Sub: Condonation of delay …
CBDT defines unauthorised colony in NCT of Delhi for exemption from deemed tax u/s 56(2)(x) under Rule 11UAC MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 12/2020 New Delhi, the 17th February, 2020 INCOME-TAX G.S.R. 124(E).—In exercise of the powers conferred by clause (XI) of …
Prosecution u/s 276CC-Failure to file ITR was not willful due to seizure of documents required by assessee for examination before filing the return u/s 153A ABCAUS Case Law Citation:ABCAUS 3260 (2020) (02) HC Prosecution u/s 276CC-Failure to file ITR held not willful In the instant case, the Income …
For grant of registration u/s 12A if tax not deducted at source (TDS) from salary or salary paid partly in cash and partly by cheque is irrelevant ABCAUS Case Law Citation:ABCAUS 3259 (2020) (02) ITAT In the instant case, the appeal had been filed by the Assessee against …
Godown used for storage of explosives qualifies for exemption u/s 54G being a place used for purpose of business of Industrial Undertaking ABCAUS Case Law Citation:ABCAUS 3258 (2020) (02) SC The Hon’ble Supreme Court had dismissed the SLP of the ITD against the judgment of the High Court …
In absence of accounts/certificate of agriculture activity claimed to have been carried out, mere affidavit not sufficient to discharge the burden ABCAUS Case Law Citation:ABCAUS 3257 (2020) (02) HC Important case law relied upon by the parties:Smt. Prem Sundari vs. CIT The appellant assessee was engaged in the …
Reopening u/s 147 /148 for escaped interest income upheld when AO by oversight failed to assess interest income duly disclosed in the books of accounts ABCAUS Case Law Citation:ABCAUS 3256 (2020) (02) HC Important case law relied upon by the parties:Commissioner of Income-Tax v. Corporation Bank Ltd. (2002) …
