Category: Income Tax
Penalty 271(1)(c) for mistakenly interchanged opening wdv of fixed assets with block of assets admissible a higher rate of depreciation ABCAUS Case Law Citation: ABCAUS 2089 (2017) (10) ITAT The Challenge/Grievance: The appellant assesseeschallenged the order passed by the CIT(A) confirming action of Assessing Officer (AO) in …
Misuse of State Emblem by Income Tax Officials. CBDT warns Income Tax official on use of State Emblems on vehicles by officers posted at field units/Zones CBDT warns Income Tax official on use of State Emblems on vehicles. In a recent office memorandum issued by Central Board of Direct Taxes …
Format of Letter for Consent of taxpayers and Letter for Migration of Email Based E-Assessment in E-Proceeding Annexure-A: Migration of email based E-Assessment to E-Proceedings in ITBA Dear Taxpayer, Subject: Migration of ongoing scrutiny proceedings from ‘e-mail based communication’ to ‘E-Proceeding’ on Income-Tax Business Application (ITBA) platform …
All time barring scrutiny cases to be assessed under e-Proceedings in all 7 metros cities and where assessee so consents. CBDT puts manual proceedings on hold till 15 October Instruction No. 8/2017 Government of India Ministry of Finance Department of Revenue (CBDT) North Block, N.Delhi, dated the …
CBDT allows PKGKY 2016 challan corrections specifies type of errors which can be corrected. Compulsory deposits challan under PMGKD are not under CBDT power as the Scheme was handled by the DEA F. No. 225/231/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North …
When assessee filed all details rejectig registration u/s 12AA by the CIT (Exemptions) on the ground that assessee was not interested in prosecuting the application was not consistent with the facts. ABCAUS Case Law Citation: ABCAUS 2086 (2017) (09) ITAT The Challenge/Grievance: The appellant assessee had filed …
No disallowance for overpricing if party assessed at maximum marginal rate and there is no loss of Revenue. ABCAUS Case Law Citation: ABCAUS 2085 (2017) (09) ITAT The Challenge/Grievance: This was an appeal filed by Revenue against the order of CIT(A) whereby he had deleted the additions …
CBDT targets 1.25 crores new return filers during FY 2017-18 who have not filed return in the previous three Financial Years (2014-15 to 2016-17) Central Board of Direct Taxes (CBDT) in a letter dated 27th Sep, 2017 written to all Principal Chief Commissioners of Income Tax has allocated targets for adding …
New Registration process for income tax e-Filing website users profile updation, Skip option at login now provided Now, Income Tax allows Skip Option to update e-filing profile at login Updatation and Activation of Profile at Income Tax e-filing website Income Tax Department has started a new Registration process …
Additions u/s 68 and 69 for transfer entries in capital account on account of rectification can not be sustained treating it alleged unexplained credit and unexplained investments – ITAT ABCAUS Case Law Citation: ABCAUS 2082 (2017) (09) ITAT The Challenge/Grievance: The present appeal was been filed by …
