Category: Income Tax

CIT Appeals order passed ex parte without giving another opportunity or mentioning reasons for additions sustained is bad

INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA ITA No. 766/Kol/2013 : Asstt. Year : 2009-2010 Asish Ranjan Chowdhury (APPELLANT)  vs. I.T.O. (RESPONDENT) Date of Order: 11/03/2016 ORDER Per Shri S.S.Viswanethra Ravi, J.M. This appeal is filed by the assessee having aggrieved by the order dated 19.10.2011 passed by the CIT(Appeals)-XXXII, …

CBDT Revised Guidelines for Implementation of Transfer Pricing Provisions Instruction No. 03/2016

Instruction No. 3/2016 F. No. 500/9/2015-APA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax and Tax Research Division-I APA-II Section New Delhi, dated 10th March, 2016 Subject:  Guidelines for Implementation of Transfer Pricing Provisions-Replacement of Instruction No. 15/2015 -Regarding The provisions …

Verification of Genuineness of Agricultural Income shown in the Income Tax Return filed by the assesses for AY 2007-08 to 2015-16

Central Board of Direct Taxes F. No. DGIT(S)/DIT(S)-3/AST/PIL/2015-16 Dated: 10/03/2016 Verification of Genuineness of Agricultural Income shown in the Income Tax Return filed by theassesses for AY 2007-08 to 2015-16 – reg. The CBDT has issued the above letter in which it has pointed out that several assesses have …

CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s 69A

INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 203(Asr)/2014 Assessment Year: 2009-10 M/s Superfine Agro Industries (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): This is an appeal filed by assessee against the order of learned CIT, dated 04.02. 2014 passed u/s …