Category: Income Tax
Designing of phase-2 of CPC-TDS future architecture and Business Processes for the next phase (2019-24) to serve the department, taxpayers and government upto 2026- 2028. CPC TDS has asked Suggestions from Commissioners of Income Tax for designing of phase-2 (2019-2024) of CPC (TDS). CITs have been requested to identify …
Promotion of 118 Income Tax Officers (ITOs) to the grade of Assistant Commissioner of Income Tax (ACIT) CBDT has promoted 118 Income Tax Officers (ITOs) to the grade of Assistant Commissioner of Income Tax (ACIT) on ad hoc basis for the vacancy year 2017-18 for the period of …
High Court stays penalty proceedings during pendency of petition u/s 264 filed before Commissioner of Income Tax ABCAUS Case Law Citation: ABCAUS 2482 (2018) 08 HC The instant petition was filed by assessee against the impugned penalty notice issued by the Assessing Officer (AO) under Section 221(1) of …
Capital gain Exemption u/s 54 can not be denied for new property purchased in joint names of self wife & daughter when the amount was actually invested-ITAT ABCAUS Case Law Citation: ABCAUS 2481 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT vs. Kamal Wahal (2013) 351 ITR …
Date of Agreement to purchase taken as date of acquisition for grant of exemption u/s 54F. Section 2(47) not stipulates registration as mandatory condition ABCAUS Case Law Citation: ABCAUS 2480 (2018) 08 ITAT Important Case Laws Cited/relied upon: Poddar Cement 225 1TR 675 and Mysore Minerals 275ITR 775. …
Application seeking immunity u/s 270AA of the Income Tax Act shall not preclude assessee from contesting the same issue in any earlier assessment year-CBDT Circular No. 5/2018 F. No. 370149/155/2018-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, Dated 16th …
Share Capital/Premium can not be regarded as undisclosed income. High Court deleted addition made for share premium u/s 68 ABCAUS Case Law Citation: ABCAUS 2478 (2018) 08 HC Important Case Laws Cited/relied upon: Commissioner of Income Tax v. Electro Polychem Ltd. (2007) 294 ITR 661, Commissioner of Income …
CBDT specifies cases to be contested on merits notwithstanding tax effect as per CBDT Circular No. 3/2018 increasing threshold monetary limits for Appeals F No 279/Misc. 142/2007-ITJ (Pt) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes New Delhi the 20th August, 2018 To, …
Procedure for valuation of inventory from tag price during survey u/s 133A-Cost price has to be determined and due deduction to be given towards direct expenses – ITAT ABCAUS Case Law Citation: ABCAUS 2477 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT v. S. Khader Khan Son, …
Payments made by University to affiliated colleges for conducting examinations in different centres were reimbursement and not fee for technical services u/s 194J – ITAT ABCAUS Case Law Citation: ABCAUS 2476 (2018) 08 ITAT The instant appeal was filed by the assessee against the order of Commissioner of …
