Category: Income Tax
CBDT directions on Regional e-Assessment Centres (ReAC)’s Headquarters, functions and powers. List of Authorities to exercise powers/functions of AO concurrently Regional e-Assessment Centres Headquarters MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 3rd October, 2019 (Income-tax) S.O. 3597(E).—In pursuance of the powers conferred …
CBDT clarifications of option exercised u/s 115BAA on allowability of brought forward loss of additional depreciation MAT credit CBDT clarifications of option exercised u/s 115BAA Circular No. 29/2019 F, No. 142120/2019-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi Dated: 2nd of October, 2019 …
Credit of TDS u/s 194N shall be given to person from whose account tax is deducted for the financial year in which tax is deducted Credit of TDS paid u/s 194N THE GAZETTE OF INDIA : EXTRAORDINARY MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. …
Prosecution u/s 276CC quashed as accused age was more than 70 years at the time of commission of offence as per CBDT Circular and as held by Supreme Court ABCAUS Case Law Citation:ABCAUS 3163 (2019) (10) ITAT Important case law relied upon by the parties:Arun Kumar Bhatia v. …
Guarantee does not amount to an international transaction under section 92B of the Income Tax Act. ITAT ABCAUS Case Law Citation:ABCAUS 3162 (2019) (10) ITAT Important case law relied upon by the parties:M/s Suzlon Energy Ltd.-vs-ACIT (2017) 188 TTJ 278Micro Ink Ltd Vs ACIT .Siro Clinpharm Pvt Ltd …
DIN system of CBDT launched ; About 17500 Communications with DIN Generated on First day The Documentation Identification Number (DIN) system of Central Board of Direct Taxes (CBDT) has come into existence from todaywiththe generation of about 17,500 communications with DIN on the very first day. This path …
Cash loan from wife due to business expediency. Penalty u/s 271D deleted as the business was carried on in the interest of family and genuineness/sources was not doubted ABCAUS Case Law Citation:ABCAUS 3161 (2019) (10) ITAT Important case law relied upon by the parties:Penmetsa Venkata Soma RajuDr. Dutta …
Concealment penalty deleted for excess salary appearing in Form 26AS on revision by employer. ITAT accepted assessee’s explanation as bonafide & genuine ABCAUS Case Law Citation:ABCAUS 3160 (2019) (09) ITAT Concealment penalty for excess salary appearing in Form 26AS In the instant case, the appeal was filed by …
Depreciation rate on printers under Income Tax. Computer peripherals like printers part of computer system & entitled for depreciation at the rate of 60% ABCAUS Case Law Citation:ABCAUS 3159 (2019) (09) ITAT Important case law relied upon by the parties:CIT Vs. Cactus Imaging India Pvt. Ltd.CIT Vs. Bses …
Condonation of delay in filing Form no. 10B for AY 2016-17 & 2017-18. Deadline extended to 30.09.2020 for belated applications. Condonation of delay in filing Form no. 10B Circular No. 28/2019 F.No.197/55/2018-ITA-IGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New Delhi, Dated: 27th September, …