Category: Income Tax
Destruction of Pan Masala stock on court’s order due to impermissible limits of magnesium carbonate disallowed u/s 37(1) being prohibited by law and not incurred for the purpose of business – ITAT ABCAUS Case Law Citation:ABCAUS 2124 (2017) (11) ITAT The Challenge/Grievance:The instant appeal was filed by …
No deemed dividend u/s 2(22)(e) where personal property pledged as collateral security for enabling the company to obtain loan/credit facilities from bank – ITAT ABCAUS Case Law Citation:ABCAUS 2123 (2017) (11) ITAT The respondent assessee was one of the directors of a Private Limited Company with substantial interest. …
Voluntary disclosure in all cases cannot absolve liability of concealment penalty. High Court confirmed penalty u/s 271(1)(c) for deferral/avoidance of tax. Willful concealment is not an essential ingredient for attracting civil liability as is the case in the matter of prosecution under section 276C – High Court ABCAUS Case …
Draft notification under section 115JG (1) of Income-tax Act 1961 in respect of conversion of Indian branch of foreign bank into Indian subsidiary company F. No. 370133/34/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* New Delhi, Dated 17th November, 2017 …
Transfers and postings in the grade of Additional-Joint Commissioner of Income Tax. CBDT Order F. No. A-22012/2/2017-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi-110 001. Date: 16.11.2017. Order No. 201 of 2017 The following postings/transfers in the …
Postings-transfers in the grade of Assistant/Deputy Commissioner of Income Tax-CBDT Order F. No. A-22013/1/2017-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi-110 001 Date:16.11.2017. Order No. 200 of 2017 The following postings/transfers in the grade of Assistant/Deputy Commissioner …
Reopening notice u/s 148 quashed as Revenue was indulging in fishing by way of scrutinizing again something that had been specifically gone into- High Court ABCAUS Case Law Citation: ABCAUS 2121 (2017) (11) HC Important Case Laws Cited/relied upon by the parties: Phool Chand Bajrang Lal & …
SoP for issue of notice for substantial cash deposit during demonetisation period. CBDT issues procedure for issue of notice u/s 142(1) of Income-tax Act F.No. 225/363/2017-ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, N.Delhi, dated the 15th November, 2017 To All Principal Chief-Commissioners …
CBDT guidelines for applicability of section 143(1)(a)(vi) for ITR processing pertaining to ITR Forms 2-3-4-5 & 6 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Instruction No. 10/2017 North Block, New Delhi, the 15th of November, 2017 Order under section 119 of …
Department can file appeal notwithstanding Monetary Limits if issue decided by the CIT-Appeals or Tribunal is contrary to the judgments of the Supreme Court-High Court ABCAUS Case Law Citation: ABCAUS 2119 (2017) (11) HC Under the Income Tax Act, 1961 (the Act), section 268A authorises the Central …
