Category: Income Tax
TDS deposited electronically within due time date shown on OLTAS irrelevant. There is no provision of waiver of interest for late deposit of TDS ABCAUS Case Law Citation:ABCAUS 3239 (2020) (01) ITAT Important case law relied upon by the parties:In the instant case, an appeal was filed by …
Backward area declared u/s 80HH(2) do not apply to section 80-IA(2)(iv)(c) as both sections are separate and have independent provisions ABCAUS Case Law Citation:ABCAUS 3238 (2020) (01) HC Important case law relied upon by the parties:Ace multi axes systems limited’, (2017) 88 taxmann.com 69 (SC).Commissioner of Income Tax …
Institute of Pesticide Formulation Technology, Gurugram PAN:- AAATI0389Q approved u/s 35(1)(ii) as Research Association from AY 2019-2020 and onwards MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 07/2020 New Delhi, the 28th January, 2020 S.O. 389(E).—It is hereby notified for general information that the organization …
CBDT further amends Notification of Income Tax jurisdiction MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 5/2020 New Delhi, the 28th January, 2020 (Income-Tax) S.O. 388(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 …
Sales of entire year could not be estimated based on cash found during survey. By no means it could be considered as sale of day ABCAUS Case Law Citation:ABCAUS 3237 (2020) (01) ITAT In this case the appeal was filed at the behest of the assessee against the …
Reopening quashed as AO not recorded reasons of assesse’s failure to disclose material facts fully and truly but notice u/s 148 was issued on change of opinion ABCAUS Case Law Citation:ABCAUS 3236 (2020) (01) ITAT Important case law relied upon by the parties:Sadbhav Engineering Ltd. vs. DCITCIT Vs. …
Amendment in the jurisdiction of Principal Commissioner/ Commissioner of Income-tax, Guwahati & Assam MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 6/2020 New Delhi, the 27th January, 2020 (Income-Tax) S.O. 387(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of …
Appeal not allowable against computer extract of demand raised by CPC-TDS at traces website. Assessee granted liberty to file appeal after obtaining order ABCAUS Case Law Citation:ABCAUS 3235 (2020) (01) ITAT Important case law relied upon by the parties:Rajesh KouraniM/s. Asan Memorial Association In the instant case, the …
Addition u/s 69 for unexplained investment on reasoning that no prudent person would keep huge amount of cash in house. ITAT deleted addition ABCAUS Case Law Citation:ABCAUS 3233 (2020) (01) ITAT In the instant case, the appeal had been filed at the instance of the Assessee against the …
Tax Invasion is a Social Injustice to fellow citizens: Chief Justice of India Tax Judiciary plays an important role in resource mobilization of the country; Artificial Intelligence is a new hope for Public Institutions; Inaugurates 79th Foundation Day Celebrations and All India Members’ Conference of the Income …