Category: Income Tax
Dainik Bhaskar Income Tax Raids-CBDT alleges detection of bogus income of Rs. 700 crores The Income Tax Department had carried out a search operation on Dainik Bhaskar in 9 cities including Mumbai, Delhi, Bhopal, Indore, Noida and Ahmedabad. The Income Tax raids had been severely criticised …
CBDT transfers 58 Commissioner of Income Tax (CIT) & Director Generals (DGIT) CBDT has made 58 transfer/postings in the grade of Commissioner of Income Tax (CIT) and Director Generals (DGIT). Also, the additional charge arrangements in the grade of Commissioner of Income Tax (CIT) has been ordered in …
Adjustment of amount paid under IDS 2016 on failure to pay third instalment – Supreme Court issues notice to CBDT ABCAUS Case Law CitationABCAUS 3534 (2021) (07) SC Important case law relied referred:Sangeeta Agarwal vs. Principal Commissioner of Income TaxShankarlal vs. Income Tax Officer & OrsPatchala Seethramaiah vs. …
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 …
