Category: Income Tax

Central Board of Direct Taxes (CBDT) has promoted 305 Assistant Commissioners of Income Tax to officiate as Deputy Commissioner of Income Tax. The promotion order shall be effective from 01.04.2018 or the date of assumption of charge, whichever is later. Download the Promotion List Click Here >>

Tests must be applied to determine if an institution exists solely for educational purposes and not for profit. High Court remands the approval u/s 10(23C) for application of tests as laid down by the Supreme Court ABCAUS Case Law Citation:ABCAUS 2267 (2018) (03) HC Important Case Laws Cited/relied …

Payment by IOCL to transporters was liable to TDS u/s 194C as works contract and not u/s 194I as hiring as per explanation to section 194I-High Court ABCAUS Case Law Citation: ABCAUS 2266 (2018) (03) HC The Substantial questions of law involved was with respect to the provision, …

Processing of returns u/s 143(1) which are pushed by CPC to Assessing Officers. ITRs to be processed electronically on ITBA or manually with approval CBDT has issued instructions for electronic or manual processing of income tax returns u/s 143(1) which are pushed to the Assessing Officers by the …

High Court declines to direct refund pending scrutiny. Since matter is pending scrutiny before AO exercising the discretion u/s 143(1d) no mandamus can be issued. ABCAUS Case Law Citation: ABCAUS 2264 (2018) (03) HC The assessee had filed the instant writ invoking the extra-ordinary jurisdiction of the Hon’ble …

Extension of time for linking link PAN with Aadhaar to 30-06-2018 F. No.225/270/2017 ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, dated the 27th of March, 2018 Order under Section 119 of the Income-tax Act. 1961 …

Deemed dividends not exempted u/s 10(34) in the hand of the payee since there is no payment of additional tax under Section 115(O)-High Court ABCAUS Case Law Citation: ABCAUS 2263 (2018) (03) HC The appellant assessee had challeneged the order of the ITAT holding that assessee was liable …

Reassessment upheld for non disclosure of Interest income set off against interest on loans and advances when production was not commenced ABCAUS Case Law Citation: ABCAUS 2262 (2018) (03) HC The appellant Revenue was aggrieved by the order of the first appellate authority and the Income Tax Appellate …

Income Tax Offices open on 29th 30th and 31st March 2018. ASK Centres also open to facilitate filing of returns by the taxpayers F. No. 225/270/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 26th March, 2018 Order under …

Explanation can not be rejected applying prudent mans behaviour test.  High Court deletes addition made for cash deposits applying Principle of preponderance of probability ABCAUS Case Law Citation: ABCAUS 2261 (2018) (03) HC The appellant assessee had challenged the order of the ITAT in confirming the addition under …