Category: Income Tax
Confidentiality provisions of tax treaties prohibit use of exchanged information for non-tax purposes without express consent Central Board of Direct Taxes (CBDT) has expressed concern over confidentiality of information obtained from foreign jurisdictions under the Exchange of Information (EOI) process of Double Taxation Avoidance Agreements (DTAAs)/ Tax Information …
Reference u/s 144BA to declare an arrangement as impermissible avoidance agreement to be made to the approving panel in Form No 3CEIA MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATION New Delhi, the 17th September, 2019 (INCOME-TAX) G.S.R. 662(E).—In exercise of the powers conferred by sub-sections (18) …
Diversion and Transfer/Postings of IRS to National e-Assessment Centre (NeAC) and its Regional Centres (ReAC) due to e-assessment scheme 2019 With the e-assessment scheme 2019 kicking in from 12.09.2019, the various existing posts in various grades of Indian Revenue Services (IRS) are diverted to the newly created “National …
Addition u/s 68 where return is filed under presumptive section 44AF deleted. Addition can not be made based on entries in bank statement ABCAUS Case Law Citation:ABCAUS 3150 (2019) (09) ITAT Important case law relied upon by the parties:CIT Bihar vs. Bihari Bros (P) Ltd Addition u/s …
Lock in period for non residents in bonds issued by Infrastructure Debt Fund removed-CBDT Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 66/2019 New Delhi, the 16th September, 2019 (INCOME-TAX) G.S.R. 661(E).—In exercise of the powers conferred by clause (47) of section 10 read …
Monetary limits for filing income tax appeal not to apply to bogus penny stocks transactions of Long Term Capital Gains (LTCG) /Short Term Capital Loss (STCL) F. No. 279/Misc./M-93/2018-ITJ(Pt.)Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes New Delhi, Dated: 16th September, 2019 OFFICE …
Activity of arranging placement for ex-servicemen as security personnel/guards in different organizations was charitable u/s 2(15) of the Income Tax Act ABCAUS Case Law Citation:ABCAUS 3149 (2019) (09) ITAT Important case law relied upon by the parties:Addl. CIT v. Surat Art Silk Cloth Mfrs. Association 121 ITR 1 …
CBDT notifies tolerance range for wholesale trading and other cases for transfer pricing for variation between arm’s length price u/s 92C Tolerance range for transfer pricing MINISTRY OF FINANCE(Department of Revenue)New Delhi Notification No. 64/2019- Income Tax Dated: 13th September, 2019 S.O. 3272(E).—In exercise of the powers conferred by …
Addition u/s 68 upheld as cash was deposited in bank by the loan creditor immediately before transfer and was poor being not an income tax assessee ABCAUS Case Law Citation:ABCAUS 3148 (2019) (09) HC Important case law relied upon by the parties:Commissioner of Income Tax versus Deen Dayal …
Law as on 1st day of assessment year not applicable to financial year in respect of amendments coming into force after first day of April of financial year. ABCAUS Case Law Citation:ABCAUS 3147 (2019) (09) HC Important case law relied upon by the parties:Badri Prasad & ors. vs. …
