Category: Income Tax
Merely by admission of appeal against ITAT order, Revenue can not get over it. Supreme Court upholds High Court’s order and dismisses SLP of the Department ABCAUS Case Law Citation: ABCAUS 2436 (2018) 07 SC The assessee was a charitable trust registered u/s 12A of the Income Tax Act, 1961 (the Act). During the course of assessment …
CBDT directed to substitute software enabling opt out from mandatory PAN-Aadhaar Linkage for filing return filing till 31.03.2019 in line with CBDT Circular ABCAUS Case Law Citation: ABCAUS 2435 (2018) 07 HC The instant Petition was filed in the High Court praying for direction that they be allowed …
Section 40A(3) applicable only when payment of expenses is made in cash exceeding specified sum and not to the payment of advances-ITAT ABCAUS Case Law Citation: ABCAUS 2434 (2018) 07 ITAT The Appellant assessee had filed the present appeal against the order passed by CIT(A) inter alia in …
CBDT has transferred 50 Additional/Joint Commissioners of Income Tax. The transfer/posting had been made locally with immediate effect. The City wise break up of the transfers is as under: Delhi 42 Mumbai 6 Karnataka & Goa 1 Tamil Nadu and Puducherry 1 Download CBDT Order Click Here >>
Cash payments for purchase of liquor to government authorized licencee covered by exception provided under Rule 6DD. ITAT deletes addition u/s 40A(3) ABCAUS Case Law Citation: ABCAUS 2432 (2018) 07 ITAT The Appellant assessee had filed the present appeal against the order passed by CIT(A) inter alia in …
CBDT Chairman Message on 158th Income Tax Day-Transparency and accountability are the cornerstones of a truly modern and responsive tax administration SUSHIL CHANDRA Chairman, CBDT & Special Secretary to the Government of India GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, …
CBDT amends Form 3CD Tax Audit Report for reports for AY 2018-19 issued on or after 20th August 2018. Read Revision made to Tax Audit Report Format Please note that CBDT vide circular no. 6/2018 has deferred clause related to GAAR & GST compliance in Revised Form 3CD deferred …
Material obtained during assessment cannot be made basis for additions without confronting the same to the assessee. ITAT remand the case back to AO ABCAUS Case Law Citation: ABCAUS 2431 (2018) 07 ITAT The Appellant assessee had filed the present appeal against the order passed by CIT(A) inter …
Water logged land comprised within backwaters held agricultural land. The land was a kayal land and sold along with adjacent agricultural land-High Court ABCAUS Case Law Citation: ABCAUS 2430 (2018) 07 HC The assessee had sold two land, lying contiguously out of which the one was in backwaters …
Applicability of Benami Property Act to Cash seized-High Court declines to interfere with show cause notice as source and nature were in the “special knowledge” of the possessor ABCAUS Case Law Citation: ABCAUS 2429 (2018) 07 HC The petitioner was found in possession of money, the source of which …