Category: Income Tax
Delay in submission of form 15G 15H not make bank assessee in default for non deduction of tax at source. Demand can not be raised without verification of Forms – ITAT ABCAUS Case Law Citation: ABCAUS 2039 (2017) (08) ITAT The Grievance: This appeal was preferred by the …
Exemption us 10(23)(C)(vi)- By not applying provisions of the Right of Education Act, it cannot be said that the assessee is not doing any genuine educational activities. ABCAUS Case Law Citation: ABCAUS 2038 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Amrawati Welfare Society vs. …
Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147. Jurisdiction u/s 263 could not be exercised after two years on issues which were not subject matter of consideration while passing the order of reassessment u/s 143(3) / 147 – ITAT ABCAUS Case Law …
Amendment to MAT Audit Report Form No 29B for Ind AS related adjustments  where financial statements of company are drawn up as per Ind-As MINISTRY OF FINANCE (Department of Revenue) Notification No. 80/2017 New Delhi, the 18th August, 2017 INCOME-TAX G.S.R. 1028(E).—In exercise of the powers conferred by …
Exemption u/s 54B-Use of land for agricultural purposes for full two years not necessary. Even if only Kharif crop was cultivated between two years, condition of Section 54B complied with – ITAT ABCAUS Case Law Citation: ABCAUS 2036 (2017) (08) ITAT Assessment Year : Â 2012-13 Important Case Laws …
CPC-advisory for 26AS Tax Credits for TDS on Sale of Immovable Property u/s 194IA (26QB Statement)-Avail Benefit of CPC(TDS) Analytics for Correction of PANs. Avail the Benefit of CPC(TDS) Analytics for Correction of PANs in your TDS Statements. CPC (TDS) Advisory for Tax Credits in 26AS with respect …
Second Time Correction on critical fields in 26QB Form is now available for Taxpayers on TRACES with respect to tax deducted at source on transfer of Immovable Property exceeding Rs. 50 Lakhs under section 194IA of the Income Tax Act, 1961. Important information on 26QB Correction • Buyers …
Carried forward depreciation set off with short term capital gain u/s 50 is allowed in view of the amended provisions of Section 32(2) wef 01-04-2002- ITAT ABCAUS Case Law Citation: ABCAUS 2035 (2017) (08) ITAT Assessment Year : Â 2012-13 Important Case Laws Cited/relied upon by the parties: M/s. …
Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied for applicability of the deeming provisions as laid by Supreme Court ABCAUS Case Law Citation: ABCAUS 2034 (2017) (08) HC Assessment Year : Â 2000-01 Important Case Laws Cited/relied upon by the parties: …
Tax Appeal to High Court-what constitutes Substantial Question of Law ? Â The First Appellate Authority under the Income Tax Act, 1961 (the Act) is Commissioner of Income Tax (Appeals) . The second appeal against the order passed by (FAA) lies to the Income Tax Appellate Tribunal (ITAT). …
