Category: Income Tax

Amendment to Application for allotment of PAN under Rule 114 and details of mother as single parent allowed. CBDT Notification MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 82/2018 New Delhi, the 19th November, 2018 G.S.R. 1128(E).—In exercise of the powers conferred by …

Service charge taken from customers by hotels / restaurants to be taxed and added to their income if not passed to staff or under-non reported. CBDT advisory on treatment of service charge taken from customers by the hotels/ restaurants under the Income-tax Act. In 2017, the Ministry of Consumer Affairs …

Disallowance u/s 14A can not exceed exempt income – Supreme Court dismisses SLP of the Department against the judgment of Delhi High Court ABCAUS Case Law Citation: ABCAUS 2639 (2018) (11) SC Important Case Laws Cited/relied upon: Commissioner of Income Tax v. Joint Investment Pvt. Ltd. 372 ITR …

Selling cost not part of cost of construction or WIP as per ICAI guidance note on accounting for real estate. ITAT delete addition made to Work in Progress ABCAUS Case Law Citation: ABCAUS 2638 (2018) (11) ITAT The appeal was preferred by the Revenue against the order of …

Concealment penalty for not offering LFC/LTC reimbursement to tax under bonafide belief that it was exempt as the employer did not deduct tax at source, deleted ABCAUS Case Law Citation: ABCAUS 2637 (2018) (11) ITAT The appeal was preferred by the assessee against the order of the Commissioner …

M/s Charutar Arogya Mandal, Gujarat approved u/s 35 (1) (ii) of Income-tax Act, 1961 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st October, 2018 S.O. 5759(E).—It is hereby notified for general information that the organization M/s Charutar Arogya Mandal, Gujarat (PAN:- AAATC1264G) has …

Anonymous donation received by trust running Gaushala not taxable u/s 115BBC, it being a religious activity covered under the exception contained in Section 115BBC ABCAUS Case Law Citation: ABCAUS 2636 (2018) (11) ITAT Important Case Laws Cited/relied upon: Pat. Ram Chandra Shukla Vs. Shree Mhahdeoji, Mahabir Ji and …

Claim for business loss due to theft of cash allowed despite no FIR was lodged with Police Authorities in view of peculiar circumstances and also when Revenue had not suffered ABCAUS Case Law Citation: ABCAUS 2635 (2018) (11) ITAT The appellant assessee was aggrieved by the order of …

CBDT powers u/s 119 to condone delay in filing Form-10 and ITR. CBDT to consider amendments made in Section 11 and 13 and pass necessary order- High Court ABCAUS Case Law Citation: ABCAUS 2634 (2018) (11) ITAT The Petitioner had filed two Writ Petition challenging the order passed …

Disallowance u/s 40(a)(ia) for non deduction of tax on payments to well-known NBFCs-ITAT remands issue for examination if NBFCs offered income to tax ABCAUS Case Law Citation: ABCAUS 2633 (2018) (11) ITAT Important Case Laws Cited/relied upon: Shri Azmath Ulla vs. ACIT ITO vs. Dr. Jaideep Kumar Sharma …