Category: Income Tax

Depreciation disallowed when entire asset block not put to use during the year. Claim that asset once entered block depreciation should be allowed dismissed

Depreciation disallowed when entire asset block not put to use during the year. Claim that asset once entered block depreciation should be allowed dismissed

June 23, 2016 Income Tax, ITAT, Judgments
Depreciation disallowed when entire asset block not put to use during the year. The Claim that asset once entered block, depreciation should be allowed dismissed by ITAT ABCAUS Case Law Citation: 958 2016 (06) ITAT Assessment Year: 2007-08 Date of Judgment/Order: June, 2016 Brief Facts of the Case: …
Disposal of Public Grievances on priority – Accountability for undue delays – CBDT. Officer to give explanations for grievances pending beyond 2 months

Disposal of Public Grievances on priority – Accountability for undue delays – CBDT. Officer to give explanations for grievances pending beyond 2 months

June 23, 2016 Income Tax
GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic.in Tele : 23092648 & Telefax : 23092544 ATULESH JINDAL Chairperson, CBDT & Special Secretary to the Govt. of India D.O. F. No. Dir.(Hqrs.)/Ch.(DT)/39(2)/2015 MOST IMMEDIATE Dated 22nd June, 2016 …
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted by ITAT. The penal provisions are to curb black money and benami transactions

Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted by ITAT. The penal provisions are to curb black money and benami transactions

June 23, 2016 Income Tax, ITAT, Judgments
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted The penal provisions are to curb black money and benami transactions and not  genuine ones – ITAT ABCAUS Case Law Citation: 957 2016 (06) ITAT Assessment Year: 2009-10 Date/Month of Judgment: June, 2016 Brief Facts of the Case: …
No additions us 68-accounts not maintained us 44AF presumptive taxation. The section operates only where books are maintained and sum is found credited

No additions us 68-accounts not maintained us 44AF presumptive taxation. The section operates only where books are maintained and sum is found credited

June 23, 2016 Income Tax, ITAT, Judgments
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and a sum is found credited therein – ITAT ABCAUS Case Law Citation: 956 2016 (06) ITAT Assessment Year: 2006-07 to 2010-11 Date/Month of Judgment/Order: June, 2016 Brief Facts …
No deduction of tax on payments specified in section 10(23DA) received by any securitisation trust defined in section 115TC. CBDT Notification 46/2016

No deduction of tax on payments specified in section 10(23DA) received by any securitisation trust defined in section 115TC. CBDT Notification 46/2016

June 22, 2016 Income Tax
No TDS deduction on payments specified us 10(23DA) MINSTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No.46 /2016 INCOME-TAX  New Delhi, the 17th June, 2016 S.O. (E).-In exercise of the powers conferred by sub-section (1F) of section 197A of the Incometax Act, 1961 (43 of …
No arrest of wilful defaulters by income tax department Though the provisions for arrest and detention by Tax Recovery Officers contained in the Act – CBDT

No arrest of wilful defaulters by income tax department Though the provisions for arrest and detention by Tax Recovery Officers contained in the Act – CBDT

June 21, 2016 Income Tax
No arrest of wilful defaulters by income tax department-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 21st June, 2016. Sub: – Clarification regarding News Report on Arrest of Tax Defaulters – reg Certain sections of the press …