Category: Income Tax
Penalty for failure to deduct tax quashed as NOIDA is exempt from TDS. Assessee was under bonafide belief that tax was not liable to be deducted – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 2001 (2017) (07) HC The Question of Law for determination: Whether the tribunal …
Income Tax Internal Audit-Revised Instruction No. 06/2017. In the light of C&AG observations, CBDT has issued a revised and comprehensive instruction Income Tax Internal Audit-Revised Instruction No. 06/2017 In the light of C&AG observations, the working of the Internal Audit set up in the Income tax Department has …
Publication of names of tax defaulters in public domain. Notice must be given to assessee. CBDT seeks list of defaulters as per naming and shaming policy Notice for publication of name must be given to tax defaulter assessee In a recent letter written by CBDT to all the Income …
Assessment is concluded if notice u/s 143(2) not issued within stipulated time and in terms of CBDT circular no scrutiny can be started in such cases-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1299 (2017) (07) HC The Question framed for determination: “Did the Income Tax Appellate Tribunal …
PAN correction limit of 2 alfa 2 numerical characters only for TDS statements held not permissible. Inocme Tax Department was directed to allow correction- Gujarat High Court ABCAUS Case Law Citation: ABCAUS 1298 (2017) (07) HC The Grievance: The petitioner had challenged the action of the Income Tax …
Amendment to Form 3CEFA-Application for opting for safe harbour. more information added under Eligible International Transaction MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 62 /2017 New Delhi, the 18th July, 2017 INCOME-TAX G.S.R. 891(E).—In exercise of the powers conferred by section 295 …
No TDS deduction on GST Component when indicated separately in the invoice as per agreement/contract between payer and payee-CBDT CIRCULAR No. 23/2017 F. No. 275/59/2012-IT (B) Government of  India Ministry  of  Finance Depanrnem of Revenue Central Board of Direcr Taxes North Block, New DelhI 19th July, 2017 Subject: …
Formula for computing Tax Effect where income computed u/s 115JB or 115JC . CBDT has modified the circular no. 21/2015 related to computation of tax effect for appeal purpose. F.No.279/Misc-142/2007-ITJ-(Pt) Government  of India Ministry  of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the …
Second visit in the name of concluding search without without finding anything new for being seized could not validate second panchnama for limitation period u/s 153B(2)(a) – Delhi High Court ABCAUS Case Law Citation:ABCAUS 1297 (2017) (07) HC The Issue:All the appeals were directed against the order of …
No concealment penalty for wrong claim on the advice of CA. Even if it was wrong, it could be a good case for addition but not for penalty – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1296 (2017) (07) HC The Question framed for determination: …
