Category: Income Tax
Reopneing-AO had to act on the basis of reasons to believe and not on reasons to suspect. ITAT quashed the reopening of the assessment. ABCAUS Case Law Citation: ABCAUS 2916 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Aas per AIR information, assessee had sold …
Non doctor running a hospital is not a professional for tax audit turnover limit purpose, but it is a business activity – ITAT deletes penalty u/s 271B ABCAUS Case Law Citation: ABCAUS 2914 (2019) (05) ITAT The appeal was filed by the assessee against the order of CIT(A) …
CBDT extend tenure of Chairman and members of the National Committee for Promotion of Social and Economic Welfare for a further six months till 30.09.2019. MINISTRY OF FINANCE(Department of Revenue) NOTIFICATION New Delhi, the 8th May, 2019 S.O. 1706 (E).—Whereas in exercise of the powers conferred by section …
Unaccounted tax liabilities to be deducted from reserves for levy of deemed dividend u/s 2(22)(e). AO should consider the liability while considering the status of the accumulated profit of the assessee ABCAUS Case Law Citation: ABCAUS 2911 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties …
No Penalty u/s 271(1)(c) without addition-Quantification of penalty depended upon addition made to the income of the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 2910 (2019) (05) ITAT The assessee was in appeal before the Tribunal against the order of the CIT(A) in confirming the penalty imposed by …
CBDT shares e-filed ITRs statistics for last 8 years to justify that there is no decline though there is visible negative growth of -0.99% CBDT has made available comparative Income Tax Return e-filing statistics to strengthen its claim that there is no decline in the number of e-filed …
Procedure, format / standards for issue of certificate for TDS on salary in Part B of Form No. 16 through TRACES after amendment. Part B of Form-16 to be issued/downloaded from TRACES Portal Government of India Ministry of FinanceCentral Board of Direct Taxes Directorate of Income-tax (Systems) New …
Penalty u/s 271(1)(c) for inadvertently not showing salary from second employer deleted as assessee suo moto recalculated and paid the tax along with interest ABCAUS Case Law Citation: ABCAUS 2908 (2019) (05) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income …
Expenditure on advertisement and brand promotion allowed in the year in which incurred wholly and exclusively for the purposes of business ABCAUS Case Law Citation: ABCAUS 2907 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Madras Industrial Investment Corporation Ltd. v. CIT 225 ITR 802 …
Dismissing appeal ex-parte by CIT(A) on very first date of hearing without giving proper opportunity to the assessee to prepare the case was unjustified – ITAT ABCAUS Case Law Citation: ABCAUS 2906 (2019) (05) ITAT The appeal by Assessee was directed against the Order of the CIT(A) whereby …