Category: Income Tax
Bogus purchase disallowance reduced from loss declared by the assessee as the purchases were related to the same business only – ITAT ABCAUS Case Law Citation: ABCAUS 1247 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax(A) …
Bogus Purchase-profit already disclosed to be reduced from profit rate applied. AO was directed to give credit for disclosed profit and re-compute income – ITAT Judgment ABCAUS Case Law Citation: ABCAUS 1244 (2017) (05) ITAT The Grievance: The relevant issue is comprised in two appeals filed by the …
Penalty us 271(1)(c) for black money in Swiss bank deleted on legal grounds by the ITAT as the Income Tax Department failed poorly to prosecute on legal grounds. This is in fact one of the example to what extent Income Tax Department had prepared its officer with required …
Refusal to grant registration us 12AA for not contesting earlier rejections is contrary in the eyes of law – ITAT ABCAUS Case Law Citation: ABCAUS 1243 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax(Exemptions) refusing to …
Sale of listed shares held more than 12 months treated capital gain not business income by Allahabad High Court in view of CBDT Circular No. 06/2016 ABCAUS Case Law Citation: ABCAUS 1242 (2017) (05) ITAT The Grievance: The appellant Revenue was aggrieved by the order passed by the …
Order quashed for not deciding objections to reopening u/s 147. The objections filed by the assessee were not decide in the set aside proceedings. ABCAUS Case Law Citation: ABCAUS 1241 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Assessing Officer …
Wife share in house purchased from savings and stridhan accepted by deleting addition made u/s 69B as unexplained investment – ITAT ABCAUS Case Law Citation: ABCAUS 1240 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) in confirming the disallowance made …
Quoting Aadhaar Number for PAN Linking exemptions u/s 139AA. Provisions not to apply to super senior citizen and other specified categories MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 37/2017 New Delhi, the 11th May, 2017 S.O. 1513 (E).—In exercise of the powers conferred by sub-section (3) of …
Printing and distribution of text books is connected to education and not advancement of any other object of General Public Utility of the definition of the term charitable purpose u/s 2 (15) – Delhi High Court ABCAUS Case Law Citation: ABCAUS 1239 (2017) (05) HC The Grievance: The …
Draft ICDS on Real Estate Transactions-CBDT invites comments. Draft ICDS is based on the Guidance Note issued on Real Estate Transactions by ICAI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11th May, 2017. Request for stakeholders comments …
