Category: Income Tax
Exercise of power by CIT u/s 263 is barred when appeal u/s 250 is pending. “record” means what is available at the time of examination by CIT ABCAUS Case Law Citation:ABCAUS 3131 (2019) (08) HC Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. Commissioner …
CBDT issues clarification on perceived differential taxation of FPIs and domestic investors Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 28th August, 2019 PRESS RELEASE CBDT issues clarification on perceived differential taxation of FPIs and domestic investors It has come to the notice …
Failure of AO to issue summons u/s 131(1) on request of assessee in order to enable him to discharge his prima facie onus is fatal to the assessment proceedings ABCAUS Case Law Citation:ABCAUS 3130 (2019) (08) ITAT Important case law relied upon by the parties: (a) Sona Electric …
Non response to unauthorised enquiry letter issued without approval not constitute material forming belief of escapement of income u/s 147 ABCAUS Case Law Citation:ABCAUS 3129 (2019) (08) ITAT Important case law relied upon by the parties:Parsuram Pottery Works Co. Ltd. vs. ITO 106 ITR 1. (SC) Amrik Singh …
CBDT issues further Clarifications in respect of filling-up of ITR forms for AY 2019-20 Circular No. 21 of 2019 F.No. 370142/1/2019-TPL (Pt.-1)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division) *** Dated: 27th August, 2019 Clarifications in respect of filling-up of the ITR forms for …
Affixture of income tax notice-essential conditions, procedure and law explained by ITAT. Unless notice is served on proper person in manner prescribed, service is insufficient and invalidates the jurisdiction of AO ABCAUS Case Law Citation:ABCAUS 3128 (2019) (08) ITAT Important case law relied upon by the parties:Vankat Naicken …
Revision 263 merely for difference in income as per P&L Account & TDS statement quashed as assessment order was not erroneous & prejudicial to Revenue ABCAUS Case Law Citation:ABCAUS 3127 (2019) (08) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd-vs-CIT (2000) 243 ITR 83 …
CBDT transferred 35 officers in the grade of Joint Commissioner /Additional Commissioner of Income Tax CBDT has made transfer/postings (Local changes) of 35 officers in the grade of Joint Commissioner /Additional Commissioner of Income Tax with immediate effect. Out of 35 transfers, 32 are from / to Delhi …
Synthesized text of India-Japan income tax treaty as affected by Convention to Implement Measures to Prevent to Prevent Base Erosion & Profit Shifting (MLI) Japan’s Ministry of Finance has released publication of Synthesized Text of Convention to Implement Measures to Prevent to Prevent Base Erosion and Profit Shifting …
Government withdraws enhanced surcharge on tax payable on transfer of certain assets Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 24th August, 2019 PRESS RELEASE Government withdraws enhanced surcharge on tax payable on transfer of certain assets In order to encourage investment in …
