Category: Income Tax

Assessee must be put to notice of all provisions on which revenue relies upon. Supreme Court quashed reopening notice u/s 148 ABCAUS Case Law Citation:ABCAUS 3293 (2020) (04) SC Important case law relied upon by the parties:Claggett Brachi Co. Ltd. London 1989 Supp(2) SCC 182M/s Phool Chand Bajrang …

Exemption u/s 54/54F for house purchased in wife name, Deduction allowed for change in jurisdictional High Court with favourable judgment ABCAUS Case Law Citation:ABCAUS 3292 (2020) (04) ITAT Important case law relied upon by the parties:CIT, Faridabad vs Dinesh VermaCIT vs., Kamal Wahal 351 ITR4CIT vs. Ravinder Kumar …

CBDT grants relaxation in applying / processing for issue of certificates for lower rate/nil deduction/collection of TDS or TCS F. No. 275/25/2020-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes North Block, New Delhi31st March. 2020 Subject: Order u/s 119 of The Income Tax Act, 1961 …

Finance Act 2020 received assent of the President and published in official Gazette The Finance Act 2020 has received the assent of the President on 27th March, 2020 and is published in Gazette of India. Earlier, The parliament had passed the Finance Bill 2020 on 23rd March 2020 …

CBDT extends ITR/TAR filing due date for AY 2019-20 to 31.03.2020 for disturbances in internet facility in UT of Jammu & Kashmir and Ladakh F. No.225/ 306/2019-ITA -IIGovernment of IndiaMinistry of Finance Department of Revenue Central Board of Direct Taxes North Block, ITA-II DivisionNew Delhi,the 23rd March ,2020 …

Extensions / relaxations up to 30.06.2020 for regulatory/statutory compliance of deadlines falling due in the month of March 2020 under Income Tax /GST etc Union Finance Minister Nirmala S Sitharaman in a press conference has given various extensions and relaxations for various regulatory and statutory compliance of deadlines …

CBDT due to corona virus may grant extension of date for time barring cases under IT Act, Vivad se Vishwas/Black Money Act Income Tax Department is facing acute shortage of the staff, due to lockdown in many States / Cities to restrict the spread of virus Covid-19 ( …

Additional Tax u/s 1431A can be levied on attempt to evade tax lawfully payable not bonafide mistakes. Purpose and object of enacting Statue cannot be lost sight – SC ABCAUS Case Law CitationABCAUS 3291 (2020) (03) SC Important case law relied upon by the parties:Commissioner of Income Tax, …

Procedure for making declaration in Form-1 and furnishing undertaking in Form-2 under the Direct Tax Vivad se Vishwas Rules, 2020 Government of IndiaMinistry of FinanceCentral Board for Direct TaxDirectorate of Income Tax (Systems), New Delhi Notification No. 12 of 2020 New Delhi, the 19th March, 2020 Subject: Procedure …

Designated Authority notified under the Direct Tax Vivad Se Vishwas Act 2020 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUEPRINCIPAL CHIEF COMMISSIONER OF INCOME TAX(INTERNATIONAL TAXATION), NEW DELHI. Dated : 18th March, 2020 Notification Subject: – Notification of ‘designated authority under ‘the Direct Tax Vivad Se Vishwas Act, 2020‘ -reg. …