Category: Income Tax
Booking of flat is not date of acquisition for claim of capital gain exemption u/s 54F. ITAT upheld denial of exemption as asset was not held for more than 3 years ABCAUS Case Law Citation: ABCAUS 2490 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: …
Renovation is part of cost of acquisition for grant of benefit of deduction u/s 54F. Term residential house include all amenities to make it habitable-ITAT ABCAUS Case Law Citation: ABCAUS 2489 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: Mrs. Rahana Siraj Vs. CIT (2015) …
The assessee was not prejudiced when AO disallowed only 10% of expenses instead of rejecting the books u/s 145 and pass best judgment assessment order under Section 144- High Court ABCAUS Case Law Citation: ABCAUS 2488 (2018) 08 HC The instant appeal was filed by assessee against the …
Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss. No Penalty when the assessee disclosed all the material in the computation of his income.- High Court ABCAUS Case Law Citation: ABCAUS 2487 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: CIT Vs. Siddharth …
Criteria for income tax manual selection of returns for Complete Scrutiny during the financial-year 2018-2019- CBDT Guidelines Instruction No. 04/2018 Government of IndiaMinistry of FinanceDepartment of RevenueCentral Hoard of Direct Taxes (ITA-II division) North Block New Delhi the 20th August 2018 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioner of …
Seven instances where E-Proceeding not mandatory for assessment during FY 2018-19. When personal hearing/attendance may take place in E-Proceeding Instruction No. 03/2018 Government of India Ministry of Finance Department of Revenue (CBDT) North Block, Now Delhi, the 20th of August, 2012 Subject: Conduct of assessment proceedings through E-Proceedings facility during …
Addition for unexplained expenses incurred on marriage of daughter. High Court remands the matter to Tribunal for fresh adjudication ABCAUS Case Law Citation: ABCAUS 2486(2018) 08 HC The instant appeal was filed by assessee against the order of the Income Tax Appellate Tribunal (ITAT/Tribunal) in confirming the part …
Remand of the case by ITAT without setting aside the judgment of CIT(A). High Court directed assessee to move rectification application ABCAUS Case Law Citation: ABCAUS 2485 (2018) 08 HC The instant appeal was filed by assessee against the Income Tax Appellate Tribunal (ITAT/Tribunal). The Tribunal had remanded …
Filing subsequent ITRs in time no reason for rejecting petition u/s 119(2)(b) to condone the delay for return filing for claiming refund – High Court ABCAUS Case Law Citation: ABCAUS 2484 (2018) 08 HC The instant petition was filed by assessee against the rejection of its petition u/s …
Demand notice quashed as due to absence of AO it did not precede any hearing as contemplated under Section 274 of the Act ABCAUS Case Law Citation: ABCAUS 2483 (2018) 08 HC The instant petition was filed by assessee against the impugned demand notice issued by the Assessing …
