Category: Income Tax
CBDT revises exceptions to monetary limits for filing appeals u/s 158AB where identical question of law is pending before High Court or Supreme Court Circular No. 8/2023 No. 279IMisc./M-93/2018-ITJ(Pt.) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes, New Delhi ***** …
Maintenance charge income received from tenants held income from business or profession not income from house property. ABCAUS Case Law Citation:ABCAUS 3764 (2023) (06) ITAT Important Case Laws relied upon:M/s. Kirloskar Systems Ltd. vs. ACITCIT vs. Model Manufacturing Co. Pvt. Ltd. (1986) 159 ITR 270CIT vs. Kanak Investments …
Addition of Mobilization Advances based on gross receipts as per 26AS statement deleted as mobilization advance was offered to tax over the life of the project ABCAUS Case Law Citation:ABCAUS 3763 (2023) (06) ITAT In the instant case, the Department had challenged the order passed by the CIT(A) …
Delay in filing appeal condoned due to mismatch in aadhaar and pan data not allowing e-verification by OTP ABCAUS Case Law Citation:ABCAUS 3762 (2023) (06) ITAT In the instant case, the appellant assessee had challenged the order passed by the CIT(A) in dismissing the assessee’s appeal in limine …
Tax Audit provisions do not apply to items of other income shown in Profit & Loss Account when business turnover is Nil – ITAT ABCAUS Case Law Citation:ABCAUS 3761 (2023) (06) ITAT Important Case Laws relied upon:Bajrang Oil Mills vs. ITO, 295 ITR 314Ghai Construction vs. State of …
Appeal lies with CIT(A) against non-grant of TDS credit by CPC Intimation u/s 143(1) of the Act. ABCAUS Case Law Citation:ABCAUS 3760 (2023) (06) ITAT Important Case Laws relied upon:Deere & Company138 taxmann.com 46 In the instant case, the assessee had challenged the order passed by the CIT(A) …
CBDT revises Monetary limits for Condonation of delay in filing refund claim & c/f of losses under Section 119(2)(b) Circular No. 07 of 2023 F. No. 312/63/2023-OTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, dated 31st May, 2023 Subject: Condonation of delay in …
Full year depreciation on vehicle can not be denied on the ground that registration was done later as assessee had vehicle in its possession. ABCAUS Case Law Citation:ABCAUS 3759 (2023) (06) ITAT Important Case Laws relied upon:National Thermal Power Corporation Ltd. vs. Commissioner of Income-tax (2012) 28 taxmann.com …
No remission or cessation of liability u/s 41(1) if trading liability is continued to be declared in books of account ABCAUS Case Law Citation:ABCAUS 3758 (2023) (05) ITAT Important Case Laws relied upon:Vardhman Overseas Ltd. 343 ITR 408 (Del)Dattatray Poultry Breeding Farm P. Ltd. vs. ACIT (2019) 104 …
Approval u/s 80G for new cases to be effective from previous year in which application is made MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 34/2023 New Delhi, 30th May, 2023 INCOME-TAX G.S.R.399(E).—In exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) …
