Category: Income Tax
Central Silk Board Bengaluru income exempted by CBDT for 5 Years from AYs 2019-2020 to 2023-2024. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2019 New Delhi, the 20th June, 2019 S.O.2005(E).—In exercise of the powers conferred by clause (46) of section 10 of the …
International Sericultural Commission Bengaluru income exempted by CBDT. Specified incomes exempted from assessment year 2014-15 onwards. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 46/2019 New Delhi, the 20th June, 2019 S.O.2006(E).—In exercise of the powers conferred by clause (42) of section 10 …
Non-cultivation of land due to vagaries of nature will not change the character of land from agriculture to non- agricultural land – ITAT allowed exemption u/s 54B ABCAUS Case Law Citation: ABCAUS 3021 (2019) (06) ITAT During the year, the assessee had sold land and claimed deduction under …
Additional depreciation on small items engaged in manufacturing of food products allowed. It cannot be denied for installing items at retail outlets ABCAUS Case Law Citation: ABCAUS 3020 (2019) (06) ITAT The appeal by the assessee was directed against the order passed by the Commissioner of Income-tax (Appeals) …
Assessment of Firms-Some of important issues to be kept under consideration by the Assessing Officers while framing assessment Circular No. 12/2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 19th of June, 2019 Subject: ‘Assessment of Firms’ …
Assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17 Circular No. 11 /2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, New Delhi, dated the 19th of June, …
Depreciation on intangible assets on conversion of proprietorship into private limited company allowed as the transaction was not considered sham ABCAUS Case Law Citation: ABCAUS 3019 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Sandvik Chokshi Ltd. 55 taxmann.com 453 (Gujarat) Commonwealth Trust …
Addition made in the present year to work-in-progress to be considered as opening stock next year-ITAT directs AO ABCAUS Case Law Citation: ABCAUS 3018 (2019) (06) ITAT The assessee was a private limited company engaged in civil construction. The Return of income of the company was processed u/s …
15 Senior IRS Officers compulsorily retired by the Government in public interest with immediate effect. Order in each case issued today Ministry of Finance Press Release 18th June 2019 In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of …
CBDT eases approval process for paper refunds in exceptional situations where there is no alternative ITBA Assessment Instruction No. 9/2019 ITBA-ASSESSMENT INSTRUCTION NO. 11 Directorate of Income Tax (Systems) F. No.System/ITBA/Instruction/ Assessment/177 /16-17 Dated: 18.06.2019 ToAll Principal Chief Commissioners of Income-tax/CCsIT All Principal Director General of Income Tax/DGsITAll …