Category: Income Tax
Loss on sale of foreign cars held as business loss not capital loss u/s 50 as the imported cars did not form part of block of assets and depreciation was not allowable – High Court ABCAUS Case Law Citation: ABCAUS 2026 (2017) (08) HC Assessment Year : …
Income Tax to write off arrear demands of Rs 25 Lakhs or more for 186 cases . CBDT writes letter on arrear write-off to all Principal CIT of Gujarat GOVERNMENT OF INDIA DEPARTMENT OF REVENUE DIRECTORATE OF INCOME-TAX (RECOVERY & TDS) 6th Floor, Mayur Bhawan,Connaught Circus, New Delhi-110001 …
Supplying back ground sound audio to film is manufacture u/s 80-IB of the Income Tax Act. Providing audio Software to Video already shot amounts to manufacture– High Court ABCAUS Case Law Citation: ABCAUS 2024 (2017) (08) HC The Issue: Whether the activity of the assessee in editing of …
Tax Recovery Officer has no power to declare alienation of property as null and void when sale is made under sale deed by alleged tax defaulter – High Court ABCAUS Case Law Citation: ABCAUS 2023 (2017) (08) HC Brief Facts of the Case: The present writ petition …
Legal expenses to defend writ filed to quash mining lease of the company are revenue expenditure not capital expenditure and deduction is allowable u/s 37 of the Income Tax Act, 1961 – High Court ABCAUS Case Law Citation: ABCAUS 2021 (2017) (08) HC The Substantial Question of …
Google India gets relief in deposit against income tax demand from High Court. The High Court reduced the deposit to 30% against the outstanding tax demand from 50% as directed by the ITAT ABCAUS Case Law Citation: ABCAUS 2020 (2017) (08) HC Brief Facts of the Case: The …
Disallowance u/s 37 for legal fee paid in excess of damages received in the relevant case deleted. Profit in immediate proximity not a basis of disallowance – High Court ABCAUS Case Law Citation: ABCAUS 2019 (2017) (08) HC The Grievance: The appellant revenue had filed the instant …
Travelling Expenses claimed us 57 did not attract concealment penalty particularly when untenable claim was made on the advice of an Accountant and coming to know, the assessee offered the same to taxation – High Court ABCAUS Case Law Citation: ABCAUS 2018 (2017) (08) HC The Issue: …
Increase of 25% in number of ITRs due to demonetization and Operation Clean Money. Advance Tax (Personal Income Tax) collections also up by 41% Press Information Bureau Government of India Ministry of Finance 07-August-2017 17:13 IST 25% growth in number of Income Tax Returns filed in current fiscal …
Know if your PAN is active or wrongfully deactivated. How to reactivate your PAN if wrongly deactivated/cancelled by Income Tax Department Recently Income Tax Department has announced deactivation of approx 12 lakhs PAN which were found to be duplicate or fake. How to check if your PAN is …
