Category: Income Tax
Tax Audit and ITR filing due date extension AY 2017-18 to 7th November 2017. Click Here >> Earlier the date was extended to 31-10-2017. Deadline for filing return of income and all audit reports extended in view of GST Tax Audit and ITR filing due date extension AY …
Impact of Demonetisation on Black Money Widening of Tax Base and Direct Tax Collections. Govt. largely relying on income tax figures to justify demonetisation Press Information Bureau Government of India Ministry of Finance 31-August-2017 16:52 IST Impact of Demonetisation on Black Money, Widening of Tax Base and Direct …
CBDT extended deadline of PAN linking with Aadhaar to 31/12/2017 CBDT order u/s 119 extending deadline of PAN linking with Aadhaar to 31/12/2017 F.No.225/270/2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi dated the 31st of August,2017 Order under …
Book entry transfer of share application money to capital reserve account could not be regarded as benefit or perquisite arising in course of business u/s.28(iv) – ITAT Book entry transfer of share application money to capital reserve ABCAUS Case Law Citation: ABCAUS 2047 (2017) (08) ITAT The …
Interest on fixed deposits during construction period held not taxable as FDRs were made out of share application money and not borrowed fund ABCAUS Case Law Citation: ABCAUS 2046 (2017) (08) ITAT Assessment Year : 2009-10 Important Case Laws Cited/relied upon by the parties: Tuticorin Alkali Chemicals …
Unexplained Cash Credits in Bank Statements held taxable u/s 68. Non production of document is different from not maintaining Books of Account – High Court In a recent judgment, Bombay High Court held that unexplained Cash Credits in Bank Statements held taxable u/s 68. ABCAUS Case Law Citation:ABCAUS 2045 (2017) …
Penalty notice issued after completion of assessment proceedings illegal. Where no proceedings relevant to assessment year are pending penalty notice was issued is bad in law – ITAT ABCAUS Case Law Citation: ABCAUS 2043 (2017) (08) ITAT The Grievance: The Revenue has filed an appeal against the Order …
Recording AO satisfaction must for exempt income disallowance u/s 14A(2) and Rule 8(D) of the Income Tax Rules, 1962. High Court reverses ITAT judgment ABCAUS Case Law Citation: ABCAUS 2042 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Godrej and Boyce Mfg. Co. Ltd. v. …
Penalty u/s 271(1)(c) invalid for assessment made in search cases u/s 158BC of the Income Tax Act. Penalty proceedings initiated and completed under wrong sections invalid-ITAT ABCAUS Case Law Citation: ABCAUS 2040 (2017) (08) ITAT Assessment Year : Block Period 1987-88 to 1997-98. Brief Facts of the Case: …
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 …
