Category: Income Tax
In a recent judgment, ITAT Mumbai has opined that merely because an income has been taxed in the hands of recipient , does not mean that it is a deductible expenditure in the hands of the person making the payment instead the deduction is required to be examined …
In a recent judgment, Allahabad High Court has held that right of appeal is a matter of procedure which gets converted into a substantive right as a creature of statute which cannot create a retrospective right. The appeal has to be filed within the limitation prescribed. Case Details: ITA …
“When substantial justice and technical considerations are pitted against each other, the cause of substantial justice deserves to be preferred” ITAT quotes Apex Court observation while condoning delay of seven days in filing appeal before CIT(A). Case Details: ITA No. 435,436,437 & 438/JP/2014 Assessment Years : 2006-07 to 2009-10 …
In a recent judgment, ITAT Jaipur while allowing assessee’s claim of exemption u/s 11 held that the Supreme Court decision in Goetze India Ltd. vs. CIT that assessee was not entitled to claim exemption which was not made in the return was applicable to AO and not to the appellate authority. Case …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4th April, 2016 Sub: Release of E-filing of Income Tax Returns (ITR) and other forms –reg In pursuance of the Notification of the Income Tax Returns (ITR) for AY 2016-17 …
To establish the fact that the assessee cultivated the land the Adangal extract is a must In a recent judgment, ITAT Chennai has stated that to establish the fact that the assessee cultivated the land and eared agricultural income, the Adangal extract from the Village Administrative Officer is a must. …
In a recent order, ITAT Ahmedabad has held that the credit of self assessment tax paid which has the same effect as advance tax, and tax deducted or collected at source, can not be denied for the purpose of charging interest upon the assessee under section 234A. Case Details: …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4 th April, 2016 Sub: Record setting year for taxpayer services, issue of refunds by CBDT -reg The Central Board Direct Taxes achieved significant success in delivery of taxpayer services …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4 th April, 2016 Sub:Release of new functionality to taxpayers to secure their E-filing account -reg The Income Tax Department has from time to time issued advisories regarding the need …
ITAT, Ahmedabad has held that sale of shops by the assessee which were distributed on dissolution of partnership firm amounts to capital gain not business income. Case Details: ITA.No.1239/Ahd/2012 Asstt. Year: 2008-2009 DCIT vs. Mafatlal Nathalal Patel Date of Order: 01/04/2016 Brief Facts of the Case: The assessee was partner in …
