Category: Income Tax
Its easy to file Income Tax Return in Form No. ITR-1 SAHAJ. Income Tax Department asks taxpayers not to wait till 31st July to file their return of income. Its easy to file Income Tax Return in Form No. 1 SAHAJ Income Tax Department has issued an advisory …
No disallowance u/s 40(a)(ia) when TDS deposited within extended time for ITR filing. Even otherwise over a period of two years effect is revenue neutral ABCAUS Case Law Citation: ABCAUS 2388 (2018) 06 ITAT The instant appeal was filed by the Revenue against the order of the Commissioner …
Appropriate use of Country by Country Reports CBDT has issued Instruction No. 2/2018 dated 27th June, 2018 on the use of CbC Reports by the Transfer Pricing Officer (TPO) during the TP audits. The purposes for which the reports shall be used and when their use shall be …
Cash loan from father to son for financial support not covered u/s 269SS. Repayment also not covered u/s 269T-Tribunal deletes penalty u/s 271D and 271E ABCAUS Case Law Citation: ABCAUS 2387 (2018) 06 ITAT Important Case Laws Cited/relied upon by the parties: Anant Himatsingk vs Addl. Commissioner of …
An undated confirmation letter cannot be rejected unless proved false. ITAT deletes addition made u/s 68/69 for cash deposits in bank account ABCAUS Case Law Citation: ABCAUS 2386 (2018) 06 ITAT The instant appeal was filed by the assessee against the order of the Commissioner of Income Tax …
Bounced cheque can not be treated unexplained credits u/s 68. Onus to prove identity, genuineness and creditworthiness of the party out of question – ITAT ABCAUS Case Law Citation: ABCAUS 2385 (2018) 06 ITAT The instant appeal was filed by the Revenue against the order of the Commissioner …
Foreign company resident in India due to Pace of Effective Management PoEM. Provisions of the Income Tax Act applicable from 01/04/2018-CBDT Notification MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 29/2018 New Delhi, the 22nd June, 2018 (INCOME-TAX) S.O. 3039 (E).—In exercise of the powers conferred by sub-section …
Allahabad HC admits PIL against creation of ITAT Varanasi Bench alleging non constitution of permanant benches at Allahabad regularly to dispose of cases ABCAUS Case Law Citation: ABCAUS 2384 (2018) 06 HC Allahabad High Court has admitted a Public Interest Litigation (PIL) filed by the Income Tax Bar …
Capital gain deduction u/s 54 for purchase of two flats on different floors allowed as flats were one above the other and converted into a single residential duplex unit The instant appeal was filed by the appellant assessee against he order of the CIT(A) in upholding the action …
Income tax notice issued in the name of dead person is illegal. Revenue can nor plead ignorance as there is no provision requiting legal representative to to intimate death or cancel PAN– High Court The instant Writ Petition was filed by the appellant assessee seeking quashing of the …