Category: Income Tax
No Late Fee 234E can be levied when challan cum statement Form 26QB filed within the due date as required u/s 200(3) rwr 31A(4A) – ITAT ABCAUS Case Law Citation: ABCAUS 2566 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: Mahavir AGENCY vs. Income Tax OFFICER …
CBDT Transfers 69 officers in the grade of Commissioners of Income Tax with effect from 09.10.2018.
Expecting assessee to submit voluminous details at fag end in a short period of time when AO kept assessment proceedings dormant for one year was unjustified – ITAT ABCAUS Case Law Citation: ABCAUS 2565 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: Pr.CIT Vs. Ashokji …
Extension of due date for filing tax audit report / income tax return to 31.10.2018 by CBDT. Download Order u/s 119 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 8th October, 2018 PRESS RELEASE CBDT further extends date for filing …
TPO had no power to impose penalty u/s 271G before 01.10.2014. Law operating on the date on which the wrongful act is committed determines the penalty ABCAUS Case Law Citation: ABCAUS 2564 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: Brij Mohan vs. Commissioner of …
No question of change of opinion when subject matter income not shown in original return or was not the subject of earlier reopening. High Court upheld double reopening ABCAUS Case Law Citation: ABCAUS 2563 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: Commissioner of Income …
Rejection of books of account for failure to file confirmation from parties not justified. Rejection of a particular expenditure no reason for treating books of account them defective u/s 145(3) ABCAUS Case Law Citation: ABCAUS 2562 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT …
Rejected goods cannot be considered for valuation of closing stock. Therefore there was concealment of income or furnishing of inaccurate particulars of such income ABCAUS Case Law Citation: ABCAUS 2561 (2018) (10) ITAT In the instant case, the appellant assessee had filed the appeal against the order of …
Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS Statement ABCAUS Case Law Citation: ABCAUS 2560 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: D.K.B. & Co. vs. DCIT 198 Taxman 339 Navjivan Oilk …
Addition made for cash deposits in undisclosed bank account do not hold any force as withdrawals and deposits do not constitute income in itself – ITAT ABCAUS Case Law Citation: ABCAUS 2559 (2018) (10) ITAT The appellant asssessee was aggriebed by the order of CIT(A) in confirming inter …
