Category: Income Tax
Condonation u/s 119(2)(b) rejected without enquiry to the reasons for the delay and the justification given, only on the ground that the business was continuously running was without proper consideration-High Court ABCAUS Case Law Citation: ABCAUS 2238 (2018) (03) HC The petitioner by the instant writ petition had challenged the …
Linking of Aadhaar with PAN Cards-Nearly 17 crores Aadhaar numbers linked with PAN As per the information available as on 05th March, 2018, nearly 17 crores number of Aadhaar was linked with PAN . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings Accounts have been linked …
Date of manufacture for claiming deduction u/s 10B is not the date of grant of approval as 100 per cent export oriented undertaking-High Court ABCAUS Case Law Citation: ABCAUS 2237 (2018) (03) HC The respondent assessee was established in the year 1950. It was engaged in the manufacture …
CCIT responsible for CIT-A working and quality of orders. CIT-Appeals should abide by CBDT instructions for timely issue/dispatch of appellate orders. CBDT has stated that failure of the Chief Commissioners of Income Tax to conduct regular inspections of the CIT (Appeals) working under them or failure to keep a watch …
Income Tax Department has issued an advisory for payment of monthly rent over Rs. 50000/- ITD has cautioned individuals/HUFs (except those liable tax audit u/s 44AB(a) and (b), paying rent to a resident in excess of Rs. 50000/-. The ITD has advised such payers to deduct TDS @ 5% …
Penalty limitation period not gets extended if appeal is withdrawn by the Department. Appeal means an effective appeal and an appeal withdrawn is an appeal non est-High Court ABCAUS Case Law Citation: ABCAUS 2235 (2018) (03) HC The appellant assessee was aggrieved by the order of the ITAT …
Assessment started in the name of non existing company and completed in the name of new company resulting from merger was nullity-High Court ABCAUS Case Law Citation: ABCAUS 2235 (2018) (03) HC The Revenue was aggrieved by the order of the ITAT which concluded that the assessment had …
The assessee entitled to claim deduction u/s 80HH with respect for profits derived from processing of cashew in the factories owned by outsiders – High Court ABCAUS Case Law Citation: ABCAUS 2234 (2018) (03) HC The respondent assessee had been carrying on processing of cashew nuts in owned …
ITAT rejected cash flow statement for no household drawings made. Addition u/s 68 sustained for estimated amount of household drawings ABCAUS Case Law Citation: ABCAUS 2233 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals) sustaining the addition made …
Do you have a Permanent Account Number (PAN) ? Income Tax Advisory Income Tax Department has issued a latest video advisory to all citizens explaining the importance of PAN and its requirement for various transactions/expenditures. The video shows a young women is about to start her career by registering …