Category: Income Tax
IDS-2016 condonation of delay in payment of taxes due to technical errors where payment is made through cheque, RTGS, electronic transfer within due time Instruction No. 2 of 2017 F.No.142/8/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, the 16th …
Assessment finality on search date reached if time for issuing notice us 143(2) had expired. In such cases additions can be made only if incriminating material found-ITAT ABCAUS Case Law Citation: ABCAUS 1102 (2017) (01) ITAT Assessment Year : 2008-09 Important Case Laws Cited: National Thermal Power Co …
Understated sales rates-AO must bring evidence on record. Assessing Officer should make inquiry from parties to whom sales made to verify sale rates -ITAT ABCAUS Case Law Citation: ABCAUS 1101 (2017) (01) ITAT Assessment Year : 2011-12 Important Case Laws Cited: Shri Manpreet Singh Dhillon Vs ITO Shri …
CBDT asks 20 Percent collection of current demand raised till November 2016 as per Central Action Plan 2016-17. CBDT Chairman letter to all Pr. CCIT CBDT Chairman has issued a departmental letter to all Principal Chief Commissioner of Income Tax for recovery of collection from current demand as …
No Penalty us 271(1)(c) for claiming excess depreciation in regular course with firm belief that it is legally allowable and supported by tax audit report-ITAT ABCAUS Case Law Citation: ABCAUS 1100 (2017) (01) ITAT Assessment Year : 2007-08 Important Case Laws relied upon: CIT vs. Suhrid Geigy …
Income Tax Department receives Silver Award for Innovations in e-filing of Income Tax Returns project- National Awards on e-Governance 2016-17. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 10 January, 2017 Press Release Income Tax Department receives Silver Award for …
New Design PAN Card with QR Code from 10-01-2017. Quick Response Code having details of the PAN applicant for Aadhaar based based e-KYC PAN Circular No.: NSDL/TIN/2017/001 …
Reassessment-TDS certificate-PL Account Receipt Difference. It is a settled law that an assessment could not be reopened only on the basis of difference in TDS certificate and receipts shown in the P&L account.-ITAT ABCAUS Case Law Citation: ABCAUS 1097 (2017) (01) ITAT Assessment Year : 2009-10 Important Case …
Lost misplaced passbook entries-Account holder presumed to know bank deposits withdrawals details even if account is closed as there is no impediment to obtain a duplicate pass book-ITAT ABCAUS Case Law Citation: ABCAUS 1096 (2017) (01) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee …
No withdrawal from bank if PAN-Form 60 not provided. Bank to report cash deposits from 01-04-2016 to 09-11-2016 also. New Rules Income-tax Rules amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts …