Category: Income Tax
Expenses incurred during lull business period can not be denied to assessee when he was not able to generate any income. ABCAUS Case Law Citation:ABCAUS 3297 (2020) (04) ITAT In this case appeals had been filed at the instance of the Assessee against the separate orders of the …
CBDT Clarification on short deduction of TDS/TCS due to increase in rates of surcharge by Finance No.2 Act, 2019. when assessee not to be treated in default Circular No. 8/2020 F. No. 370133/5/2020-TPLGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes(TPL Division)***** Room No. …
Clarification in respect of option u/s 115BAC regarding TDS. Employee to intimate employer his intention for each previous year. CBDT Circular C1 of 2020 Circular C1 of 2020 F. No. 370142/13/2020-TPLGovernment of IndiaMinistry of Finance Department of RevenueCentral Board of Direct Taxes***** New Delhi, April 13, 2020 Clarification …
CBDT Clarifies orders for issuance of certificate for lower deduction/collection of TDS/TCS Clarification on orders dated 31.03.2020 and 03.04.2020 issued under section 119 of the Income Tax Act 1961 (the Act) by CBDT regarding issuance of certificate for lower deduction/collection of TDS/TCS u/s 195, 197 and 206C (9) …
CBDT to issue all pending income-tax refunds up to Rs. 5 lakh. GST/Custom refunds also to be issued Government of India Ministry of Finance Department of Revenue New Delhi, the 08th April, 2020 PRESS NOTE CBDT to issue all pending income-tax refunds up to Rs. 5 lakh In …
Trust set up for providing benefits to a particular community no ground to deny Section 12AA registration ABCAUS Case Law Citation:ABCAUS 3295 (2020) (04) ITAT Important case law relied upon by the parties:Leuva Patel Seva Samaj TrustM/s Ananda Social & Educational Trust In this case, the appellant assessee …
Withdrawal of deduction u/s 54/54F beyond scope of rectification u/s 154. AO has no jurisdiction to re-appreciate evidences already considered. ABCAUS Case Law Citation:ABCAUS 3294 (2020) (04) ITAT Important case law relied upon by the parties:T.S. Balaram, Income Tax Officer vs Volkart Brothers & Ors, 82 ITR 50 …
CBDT relaxes time for submission of Forms 15G & 15H for FY 2020-21 Due to the outbreak of the COVID-19 virus, the CBDT has issued an order u/s 119 of the Income Tax Act 1961 regarding submission of Form 15G and Form 15H for Financial Year 2020-21. Due …
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 …
