Category: Income Tax
Set off of expenses against surrendered income held erroneous and prejudicial to the interest of the revenue as assessee failed to demonstrate that income surrendered had a business link. ABCAUS Case Law Citation: ABCAUS 2664 (2018) (12) ITAT Important Case Laws Cited/relied upon: M/s. Makson Distributors, Vs. The …
CBDT reiterates that appeals against adverse judgments should only be filed on merits even on issues mentioned in para 10 of Circular No. 3 of 2018 F. No . 279/Misc/M-93/2018-ITJ Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes Judicial Section New Delhi, 11th …
Interest u/s 234B on failure to deposit the advance tax in respect of tax payable u/s 115JB of Income Tax Act – Supreme Court admits the question in appeal ABCAUS Case Law Citation: ABCAUS 2663 (2018) (12) SC The Revenue had filed a Civil Appeal on the questions …
No revision u/s 263 without pointing out how assessment order is erroneous. Order quashed as CIT did not mention whether assessee’s contentions were acceptable or not. ABCAUS Case Law Citation: ABCAUS 2662 (2018) (12) ITAT Important Case Laws Cited/relied upon: Narayan Tatu Rane vs. ITO reported in (2016) …
Period of holding under Rule 8AA on conversion u/s 115JG(1) to include previous owner by mode of acquisition u/s 49(1) or section 115JG(1) – Notification MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 86/2018 New Delhi, the 6th December, 2018 INCOME-TAX S.O. 6054(E).—In …
Unabsorbed depreciation, set off/carry forward of losses, tax credit u/s 115JG for conversion of Indian Branch of Foreign Bank into Indian Subsidiary company – CBDT Notification MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No.85/2018 New Delhi, the 6th December, 2018 INCOME-TAX S.O. 6053(E).— …
CIT(Appeals) Bhopal-1 appointed Appellate Authority for all cases under Black Money Act within territorial jurisdiction of MP & CG States. CBDT Notification MINISTRY OF FINANCE (Department of Revenue) (OFFICE OF THE PRINCIPAL CHIEF COMISSIONER OF INCOME TAX) NOTIFICATION Bhopal, the 5th October, 2018 S.O. 6036(E).—In exercise of the …
No tax deduction u/s 194A for Senior Citizens where aggregate amounts of interest credited or paid during financial year does not exceed Rs. fifty thousand – CBDT F. No. Pro DGIT(S)/CPC(TDS)/Notification/2018-19 Notification No. 06/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) …
SOP for dealing with ITR Processing or Assessment in suspected Fraud PAN / TAN cases involving refund / TDS fraud or claiming false deduction/exemption – CBDT Instruction SOP for dealing with ITR Processing or Assessment in suspected refund / TDS fraud Directorate of Income Tax (System) in a …
Prosecution u/s 276CC for not filing return-Sentence set aside and Trial Court directed to pass fresh judgment after consideration of additional evidences u/s 391 of CrPC. ABCAUS Case Law Citation: ABCAUS 2661 (2018) (12) AC Important Case Laws Cited/relied upon: Sudevanand Vs State through CBI (2012) 3 SCC 387 Govind Chauhan Vs Sriram Sonboir 2014 CriLJ2411 Globe Trotters International Vs Joseph Fernandes MANU/MH/2111/2010 Rambhau and another v. …