Category: Income Tax
Assessee in default u/s 201 not absolved if the resident who receives the payment without TDS files a loss return. Proviso require actual payment of tax-High Court ABCAUS Case Law Citation: ABCAUS 2256 (2018) (03) HC The appellant assessee was aggrieved by the order treating the appellant as …
Cash redeposits claimed out of withdrawals unlikely if deposited in remote bank branches not near to the assessee’s office or residence. No person will go to a branch to deposit extra cash leaving another bank branch near to his office/residence-ITAT ABCAUS Case Law Citation: ABCAUS 2255 (2018) (03) …
Revised format of Income tax notices u/s 142(1)(ii) & (iii) The Directorate of Income Tax (Systems) has issued a Departmental Order on the subject of issue of notices under section 142(1)(ii) & (iii) of Income tax Act 1961 in revised format. The concept of electronic assessment proceeding was …
Addition for cash deposit in joint bank account with grandfather upheld. High Court rejected the plea that the assessee was only helping his old grand-father for operating the bank account. ABCAUS Case Law Citation: ABCAUS 2252 (2018) (03) HC The appellant assessee was aggrieved by the order of …
Authority for recording of satisfaction for grant of registration u/s 12AA-High Court upheld ITAT direction for registration of Charitable Institution. ABCAUS Case Law Citation: ABCAUS 2250 (2018) (03) HC Recently, a Division Bench of Hon’ble the Allahabad High Court had held that the Tribunal has no jurisdiction in …
Provisions for exemptions u/s 10(23C) and 12AA are completely different and independent Rejection of former did not automatically result in denial of later-High Court ABCAUS Case Law Citation: ABCAUS 2249 (2018) (03) HC The respondent assessee was a society. The Assessing Officer during the course of the assessment …
Refund u/s Section 244A for delay in curing defects in TDS certificates-Commissioner of Income Tax is the final fact finding authority- High Court declines to interfere. ABCAUS Case Law Citation: ABCAUS 2248 (2018) (03) HC The return of income of the Petitioner bank was processed u/s 143(1) and …
Penalty u/s 271AAA-what constitutes substantiating how undisclosed income was derived-High Court explains prerequisites of statement u/s 132(4) to avert penalty ABCAUS Case Law Citation: ABCAUS 2247 (2018) (03) HC The Revenue was aggrieved by the order of the ITAT in deleting the penalty u/s 271AAA of the Income …
High Court interprets provisions of PMGKY Scheme 2016 and give equitable relief to the assessee without undermining the object and purpose behind the Scheme. ABCAUS Case Law Citation: ABCAUS 2246 (2018) (03) HC The petitioner was an advocate engaged in income-tax practice who had challenged the rejection by …
The Lok Sabha has today passed the Finance Bill 2018 without discussion amid protest by the opposition leding to the adjournment of both the Houses of Parliament. The passing of the Bill by voice votes without discussion have the effect of automatically passing all the twenty one amendments as …