Category: Income Tax

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

February 24, 2017 Income Tax, ITAT, Judgments
No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c) ABCAUS Case Law Citation: ABCAUS 1140 (2017) (02) ITAT The Grievance: The assessee is aggrieved with the levy of penalty u/s 271(1)(c) of the Income-tax Act, …
Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

February 24, 2017 Income Tax, ITAT, Judgments
Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT  ABCAUS Case Law Citation: ABCAUS 1139 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Commissioner of Income …
DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC

DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC

February 23, 2017 High Courts, Income Tax, Judgments
DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC ABCAUS Case Law Citation: ABCAUS 1138 (2017) (02) HC The Substantial Question of Law in assessee’s appeal: Whether the finding recorded by the Tribunal to the effect that after …
No Interference with findings of facts unless relevant evidence not considered or finding arrived by ITAT placing reliance on inadmissible evidence-Allahabad High Court

No Interference with findings of facts unless relevant evidence not considered or finding arrived by ITAT placing reliance on inadmissible evidence-Allahabad High Court

February 23, 2017 High Courts, Income Tax, Judgments
No Interference with findings of facts unless relevant evidence not considered or finding arrived by ITAT placing reliance on inadmissible evidence-Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1137 (2017) (02) HC Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Brief Facts of the Case: The appeal was admitted by the Lucknow …
Correction in challan attributes in IDS 2016 payments-Guidelines. Changes in PAN, AY, Minor/Major Heads of e-payment/physical challans

Correction in challan attributes in IDS 2016 payments-Guidelines. Changes in PAN, AY, Minor/Major Heads of e-payment/physical challans

February 22, 2017 Income Tax
Correction in challan attributes in IDS 2016 payments-Guidelines.  Changes in PAN, AY, Minor/Major Heads of e-payment/physical challans.  DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi- 110055 F.No.SW/07/01/06/OLTAS INSTRUCTION/DIT(S)II/ Dated: 13-02-2017 To The Principal Chief Commissioners of  Income-tax/ Chief Commissioners of Income-tax The Principal …
CBDT

SOP for verification of Cash deposits in bank post demonetisation.

February 21, 2017 Income Tax
SOP for verification of Cash transactions deposits in bank by Income Tax Officers post demonetisation. CBDT issues detailed Standard Operating Procedures  Instruction No. 03/2017 Government of India Ministry of FinanceDepartment of Revenue Central Board of Direct Taxes North Block, New Delhi Dated 21st of February, 2017 Subject: – …
Permanent injunction decree against judgment debtors legal representatives is executable. Maxim actio personalis moritur cum persona not applicable-SC

Permanent injunction decree against judgment debtors legal representatives is executable. Maxim actio personalis moritur cum persona not applicable-SC

February 21, 2017 Income Tax, Judgments, Supreme Court
Permanent injunction decree against judgment debtors legal representatives is executable. Maxim actio personalis moritur cum persona not applicable-SC ABCAUS Case Law Citation: ABCAUS 1135 (2017) (02) SC Question involved: The question involved in the matter was executability of decree for permanent injunction against the legal representatives of judgment-debtor …