Category: Income Tax
Commissioner Appeals have no power to remand case back to AO for fresh assessment nor can he direct AO to decide in accordance with his directions-High Court ABCAUS Case Law Citation: ABCAUS 2104 (2017) (10) HC Important Case Laws Cited/relied upon by the parties: Dhirendra Nath Gorai v. …
POEM Clarification for multinational companies with regional headquarter structure with employees having multi-country responsibility Circular No 25 of 2017 F No 142/ 11/2015-TPL (Part-1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 23rd October, 2017 Subject : Clarification related …
Transaction entered in pursuance of MOU can not be said sham or colourable device to avoid tax when payments and MOU not disputed, Joint Venture payments not attract TDS Provisions-High Court ABCAUS Case Law Citation: ABCAUS 2103 (2017) (10) HC In the instant case, the assessee company …
Once depreciation is claimed, asset cannot move out of the Block of Assets even if no depreciation was claimed for many years thereafter – High Court affirms ITAT order ABCAUS Case Law Citation: ABCAUS 2102 (2017) (10) HC Brief Facts of the Case: The appellant assessee had sold a fixed assets earning profits thereon which was treated by it as …
Question affecting tax liability of assessee can be raised before the Tribunal first time and it is obliged to consider them and pass appropriate orders – High Court ABCAUS Case Law Citation: ABCAUS 2101 (2017) (10) HC In the instant case, the Income Tax Department (Revenue/Department ) had …
Tribunal not justified in remanding the case when documents are available with it. It was the duty of the tribunal to consider the same – High Court ABCAUS Case Law Citation: ABCAUS 2100 (2017) (10) HC The High Court pronounced the common judgment while disposing off bunch …
Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders. The fiction not to be extended further for broadening the concept of shareholders – Supreme Court agrees with High Court ABCAUS Case Law Citation: ABCAUS 2099 (2017) (10) SC Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders In …
Reopening for not replying enquiry letter issued on AIR basis to verify source of investment in the property held invalid for non application of mind by the Assessing Office. ABCAUS Case Law Citation: ABCAUS 2098 (2017) (10) ITAT The Challenge/Grievance: This appellant assessee had challenged the order …
Charitable Trust registration us 12A-Amendment of Rule 17A and Form 10A. Draft Notification inviting comments and suggestions Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th October, 2017 PRESS RELEASE Draft Notification of amendment of Rule 17A and Form 10A …
Income Tax CASS Scrutiny parameters for Returns received in FY 2017-18 DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 Ph No-0120-2770029E-mail id- adg2.systems@incometax.gov.in F.No. DGIT(S)/ADG(S)-2/CASS 2018/2017-18 …