Category: Income Tax
PAN correction limit of 2 alfa 2 numerical characters only for TDS statements held not permissible. Inocme Tax Department was directed to allow correction- Gujarat High Court ABCAUS Case Law Citation: ABCAUS 1298 (2017) (07) HC The Grievance: The petitioner had challenged the action of the Income Tax …
Amendment to Form 3CEFA-Application for opting for safe harbour. more information added under Eligible International Transaction MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 62 /2017 New Delhi, the 18th July, 2017 INCOME-TAX G.S.R. 891(E).—In exercise of the powers conferred by section 295 …
No TDS deduction on GST Component when indicated separately in the invoice as per agreement/contract between payer and payee-CBDT CIRCULAR No. 23/2017 F. No. 275/59/2012-IT (B) Government of India Ministry of Finance Depanrnem of Revenue Central Board of Direcr Taxes North Block, New DelhI 19th July, 2017 Subject: …
Formula for computing Tax Effect where income computed u/s 115JB or 115JC . CBDT has modified the circular no. 21/2015 related to computation of tax effect for appeal purpose. F.No.279/Misc-142/2007-ITJ-(Pt) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the …
Second visit in the name of concluding search without without finding anything new for being seized could not validate second panchnama for limitation period u/s 153B(2)(a) – Delhi High Court ABCAUS Case Law Citation:ABCAUS 1297 (2017) (07) HC The Issue:All the appeals were directed against the order of …
No concealment penalty for wrong claim on the advice of CA. Even if it was wrong, it could be a good case for addition but not for penalty – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1296 (2017) (07) HC The Question framed for determination: …
Exempt salary received in NRE account not taxable on receipt basis merely because the foreign employers remitted salary to the assessee’s NRE bank account in India-Calcutta High Court ABCAUS Case Law Citation:ABCAUS 1295 (2017) (07) HC The Question framed for determination:“Whether on the facts and in the circumstances …
Donation made to BJP-Congress not claimed in return allowed following Supreme Court judgment that ITAT powers not limited in dealing with claim of the assessee not made before AO. ABCAUS Case Law Citation: ABCAUS 1293 (2017) (07) HC The Question for determination: Whether in the facts and in …
Sales tax allowed to be retained for production in backward area held revenue receipt in the absence of any condition towards capital utilization-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1292 (2017) (07) HC The Question framed for determination: Whether the ITAT was correct in law in holding …
Income Tax identifies 5.56 lakh high cash depositors from SFT information. 1.04 lakh persons not disclosed all bank accounts. Operation Clean Money-2nd phase Income Tax Department pushes additional cases of High Cash Deposits in Second Phase of Operation Clean Money The Income Tax Department (ITD) has used information …