Category: Income Tax
ITD to launch Kardaata e-Sahyog Abhiyaan on Income Tax Day 24th July 2019 Income Tax Department is celebrating Income Tax Day on 24th July 2019. On this occasion, the Income Tax Department shall observe Kardaata e-Sahyog Abhiyaan. In view of the representations received from the taxpayers and stakeholders …
Download Tax/TDS Credit Mismatch report from income tax e-filing account Income Tax e-filing portal has enabled viewing and downloading report of Tax/TDS credit mismatch between Form 26AS and TDS claimed. The report shall enable assessees in pin pointing the mismatch in TDS as claimed and as appearing in …
Disallowance u/s 40A(2) for unreasonable increase in directors remuneration deleted as AO not carried out exercise to determine fair remuneration in the similar line and scale of business. ABCAUS Case Law Citation:ABCAUS 3072 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Commissioner of Income Tax Vs. …
Bogus purchases additions not based on average GP or NP declared by the assessee in preceding years or some reasonable or proper criteria deleted by ITAT ABCAUS Case Law Citation:ABCAUS 3071 (2019) (07) ITAT This appeal by the assessee was directed against the order of the CIT (A) …
Depreciation and provision for maintenance on BOT project allowable. ITAT distinguished decision of Bombay High Court & held in assessee’s favour ABCAUS Case Law Citation:ABCAUS 3070 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Progressive Constructions Ltd, reported in (2018) 161 DTR 289Ashoka Infrastructure Ltd vs. …
Giving Scrip wise details of long term capital gains in Schedule 112A of ITR is optional – CBDT clarification As per advisory hosted at income tax e-filing website, Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the …
Reopening due to change in method of accounting for NPA quashed as it was notified in audited accounts. SC dismissed SLP of Revenue ABCAUS Case Law Citation:ABCAUS 3069 (2019) (07) SC The Assessing Officer (AO) had initiated re-assessment proceedings against the respondent bank under Section 147 read with …
Corporate membership of club of Managing Director (MD) of the company allowed as incurred wholly and exclusively for the purpose of business of the assessee company ABCAUS Case Law Citation:ABCAUS 3068 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Ankit Metal & Power Ltd vs Addl …
Assessee should maintain accounts pertaining to entire agriculture activity to substantiate the claim of agriculture income – ITAT ABCAUS Case Law Citation:ABCAUS 3067 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Smt. Prem Sundari vs. CIT The present appeal was filed by the assessee against the …
CBDT sets up committee to examine data structure and modalities of upload of data for e-Assessment DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2, Jhandewalan Extension,New Delhi – 110 055 F.No. ADG(S)-5/Misc./2019-205789-5790 Dated: 17.07.2019 OFFICE ORDER Subject: Constitution of Committee to examine Data Structure and Modalities of …
