Category: Income Tax
High Court upheld inclusion and exclusion of comparables by TPO based on filters of losses, declining sales, segment reporting employee cost etc. ABCAUS Case Law Citation: ABCAUS 2280 (2018) (04) HC The appellant assessee had filed the instant appeal under Section 260A of the Income Tax Act, 1961 …
Unilateral writing off liability in the books of creditor can not be taxed u/s 41 in the hands of the assessee unless assessee was party to the settlement had the knowledge of writing off – ITAT ABCAUS Case Law Citation: ABCAUS 2279 (2018) (04) ITAT Important Case Laws …
PAN Card Application 49A amended to have Transgender option MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 18/2018 New Delhi, the 9th April, 2018 Income-tax G.S.R. 352(E).—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, …
AO not required to adjudicate oral objection on reopening of assessment u/s 148 in the absence of any specific objection made in writing-ITAT ABCAUS Case Law Citation: ABCAUS 2278 (2018) (04) ITAT In the instant case, the appeal was preferred by the assessee against the order of the …
CBDT Notification for withdrawal of Transport Allowances exemption of Rs. 1600/- pm from AY 2019-2020 Rule 2BBA of the Income Tax Rules, 1961 exempts the transport allowance granted to an employee for commuting from residence to office is exempt to the extent of Rs. 1600 per month. However, …
Repeated purchase of same scrip and immediate sale on daily basis to take advantage of the market fluctuations was business income not short term capital gains u/s 111A- ITAT ABCAUS Case Law Citation: ABCAUS 2276 (2018) (04) ITAT Important Case Laws Cited/relied upon by the parties CIT vs. …
Roads and common facilities area in land development agreement also part of assessee’s share in land for capital gain purpose and had to be in the same ratio-ITAT ABCAUS Case Law Citation: ABCAUS 2275 (2018) (04) ITAT The Assessing Officer (AO) had the information that the assessee and …
Procedure for Form 61B registration, submission u/s 285BA by reporting financial institutions modified With effect from 9th April 2018, registration, statement upload and all other facilities for Form No. 61, 61A and 61B have been migrated from e-filing portal to the Reporting Portal (https://report.insight.gov.in) DGIT(S)/ADG(S)-2/Notification/106/2018 Government of India Ministry …
Procedure for registration and submission of Form No. 61 as per Rule 114D With effect from 9th April 2018, registration, statement upload and all other facilities for Form No. 61, 61A and 61B have been migrated from e-filing portal to the Reporting Portal (https://report.insight.gov.in) DGIT(S)/ADG(S)-2/Notification/106/2018 Government of India Ministry …
Procedure for registration and submission of SFT u/s 285BA under Rule 114E modified. With effect from 9th April 2018, registration, statement upload and all other facilities for Form No. 61, 61A and 61B have been migrated from e-filing portal to the Reporting Portal (https://report.insight.gov.in) DGIT(S)/ADG(S)-2/Reporting Portal/2017/180 Government of India …
