Category: Income Tax

Disallowance u/s 36(1)(va) for delayed deposit of employees  contribution of EPF. Explanation-5 to section 43B not retrospective – ITAT ABCAUS Case Law CitationABCAUS 3532 (2021) (07) ITAT Important case law relied referred:CIT vs. Vijayshree Ltd.CIT vs. Alom Extrusion Ltd. In the instant case, the assessee had challenged the …

CBDT transfers 281 Officers in the grade of Assistant/Deputy Commissioner of Income Tax  CBDT has made transfer of 281 officers Officers in the grade of Assistant Commissioner / Deputy Commissioner of Income Tax with immediate effect. The summary of transfers made is as under: (i) Request Cases  266 …

  CBDT further extends date for manual filing of Income Tax Forms 15CA/15CB till 15th August, 2021   Earlier, in view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, CBDT has extended date to submit Forms 15CA/15CB in …

Ex parte best judgment assessment remanded as the assessee was a defunct company which ceased to function and therefore could not submit documents  ABCAUS Case Law CitationABCAUS 3531 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) confirming addition …

Exemption u/s 54F allowed though Capital Gain sale proceed deposited in Nationalised Bank instead of capital gain deposit scheme account ABCAUS Case Law CitationABCAUS 3530 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) sustaining the addition made by …

Income Tax exemption to amount received for medical treatment from employer or from any person for treatment of COVID-19 during financial year 2019-20 and subsequent years The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer …

Step by Step Guide / Procedure for compliance check for ITRs non filer status for higher TDS rate u/s 206AB / 206CCA  Step by Step Guide / Procedure for Compliance Check for ITRS Non filers for Section 206AB & 206CCA The Finance Act 2021 has inserted Section 206AB …

Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has to apply upon block as a whole instead of an individual asset. In the instant case, the assessee had challenged the order passed by the CIT(A) in inter …

CBDT exempts income of Haryana Labour Welfare Board u/s 10(46) from 01-06-2020 to 31-03-2021 and for FY 2021-2022 to 2024-25 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 80/2021 New Delhi, the 14th July, 2021 S.O. 2826(E).—In exercise of the powers conferred by clause (46) …

CBDT exempts income of Himachal Pradesh Computerization of Police Society u/s 10(46) from 01-06-2020 to 31-03-2021 and for FY 2021-2022 to 2024-25 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 81/2021 New Delhi, the 14th July, 2021 S.O.2827(E).—In exercise of the powers conferred by clause …