Category: Income Tax

Form 10B income accumulation amount inadvertent mistake. Income Tax authorities were misconceived in denying the claim for the difference-ITAT

Form 10B income accumulation amount inadvertent mistake. Income Tax authorities were misconceived in denying the claim for the difference-ITAT   ABCAUS Case Law Citation: ABCAUS 1110 (2017) (01) ITAT Assessment Year : 2003-04 Date of Pronouncement: 20-01-2017 Brief Facts of the Case: The assessee was a charitable trust …

Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted-ITAT

Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted as held by Allahabad High Court-ITAT   ABCAUS Case Law Citation: ABCAUS 1109 (2017) (01) ITAT Assessment Year : 2010-11 Date of Pronouncement: 11-01-2017 Important Case Laws Cited/relied upon: CIT Vs …

Transfer of unlisted shares by SEBI registered Category I & II AIFs- Income tax treatment. CBDT fresh directions

Transfer of unlisted shares by SEBI registered Category I & II Alternative Investment Funds- Income tax treatment. fresh directions by CBDT F. No. 225/12/2016/ITA.IIGovernment of IndiaMinistry of FinanceDepartment of Revenue (CBDT) North Block, New Delhi, the 24th of January, 2017 ToAll Principal Chief-Commissioners of Income-tax/All Principal Directors General …

Appeal where additions made due to audit objection deleted in adverse judgment should be filed and contested on merits only

Appeal where additions made due to  audit objection deleted in adverse judgment should be filed and contested on merits only CIRCULAR NO. 5/2017 FTS No. 279157/ITJ Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated 23rd January, 2017 Subject: Measures for reducing litigation- Clarification …