Category: Income Tax
Assessee could not be taxed more than what it had received-High Court upholds Tribunal order allowing commission paid by the assessee ABCAUS Case Law Citation: ABCAUS 2449 (2018) 08 HC Instant Income Tax appeals were filed by the Revenue aggrieved by the order passed by the Income Tax …
There is no provision in the Partnership Act requiring that Partnership Deed should contain the ratio of profit and loss per partner-High Court ABCAUS Case Law Citation: ABCAUS 2448 (2018) 08 HC The only common question of law raised for consideration in the instant appeals was whether Section …
Commission paid to represent assessee before govt agencies for getting work held not an offence u/s 37(1) – ITAT Judgment ABCAUS Case Law Citation: ABCAUS 2447 (2018) 08 ITAT The instant appeal by the assessee was directed against the order of CIT(Appeals) in confirming inter alia the disallowance …
Non issuance of statutory notice u/s 274(1) vitiated levy of penalty u/s 271(1)(b). Mere proposal to initiate penalty proceedings not amount to recording the satisfaction-ITAT ABCAUS Case Law Citation: ABCAUS 2446 (2018) 08 ITAT The instant judgment was delivered in a bunch of appeals filed by several assessee …
CBDT entered into nine more Unilateral Advance Pricing Agreements during the month of July, 2018. Total number of APAs has gone up to 232 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 1st August, 2018 PRESS RELEASE Indian Advance Pricing Agreement …
Unearthing of Black Money-Prosecution, search, survey initiated by ITD under the relevant provisions of the Income Tax Act, 1961, during the last three FYs Minister of State for Finance, today, in written reply to a question in Rajya Sabha has given figures of proceedings initiated by the Income-tax Department against black …
Relief under the 89 of the Act is available qua a perquisite. Rule 21A and Form 10E do relate to the contribution in question – ITAT ABCAUS Case Law Citation: ABCAUS 2445 (2018) 07 ITAT The instant appeal was filed by the assessee against the CIT(A)’s action of …
TDS 194C not applicable on payment by contractee to contractor of license fee. Supreme Court dismisses SLP of the Income Tax Department ABCAUS Case Law Citation: ABCAUS 2444 (2018) 07 SC The respondent assessee was granted a contract by IRCTC for providing catering service for which the assessee …
Exemption notification should be interpreted strictly. Burden of proving applicability is on assessee who can not claim benefit of ambiguity-Supreme Court ABCAUS Case Law Citation:ABCAUS 2443 (2018) 07 SC This Constitution Bench was setup to examine the correctness of the ratio in Sun Export Corporation (Sun Export Case). …
Penalty 271(1)(c) deleted on debatable issue of revenue or capital receipt of the freight subsidy not accounted for on mercantile basis. ABCAUS Case Law Citation: ABCAUS 2442 (2018) 07 ITAT The instant appeal was filed by the assessee against the order passed by the CIT(A) in confirming the …
