Category: Income Tax

Rollback provision in revised India-Korea Double Taxation Avoidance Agreement (DTAA) – CBDT Clarification

Rollback provision in revised India-Korea Double Taxation Avoidance Agreement (DTAA) – CBDT Clarification

March 17, 2017 Income Tax, Press Release
Rollback provision in revised India-Korea DTAA-CBDT Clarification. Applications for bilateral APA for international transactions with Associated Enterprises  Clarification by Central Board of Direct Taxes on rollback provision in the revised India-Korea Double Taxation Avoidance Agreement The Central Board of Direct Taxes (CBDT) has clarified that under the revised …
PMGKDS 2016 Form V reference number to be quoted on while uploading the same renamed as Deposit Reference Number- RBI

PMGKDS 2016 Form V reference number to be quoted on while uploading the same renamed as Deposit Reference Number- RBI

March 17, 2017 Income Tax, RBI
PMGKDS 2016 Form V reference number to be quoted on while uploading the same renamed as Deposit Reference Number- RBI Clarification RBI/2016-17/251 IDMD.CDD.No. 2347/14.04.051/2016-17 March 16, 2017 The Chairman/CEO/ Managing Director, All Authorised Banks, (All Banks to which Banking Regulation Act, 1949 applies) Dear Sir/Madam, Pradhan Mantri Garib …
Original Assessment order merged with CIT order passed u/s 264. AO could not have rectified its original order passed u/s 147 – ITAT

Original Assessment order merged with CIT order passed u/s 264. AO could not have rectified its original order passed u/s 147 – ITAT

March 16, 2017 Income Tax, ITAT, Judgments
Original Assessment order merged with CIT order passed u/s 264. AO could not have rectified its original order passed u/s 147 – ITAT ABCAUS Case Law Citation: ABCAUS 1174 (2017) (03) ITAT Assessment Year : 1999-2000 Date/Month of Pronouncement: March, 2017 Important Case Laws Cited/relied upon: ITO Vs. …
Disallowance us 14A(2)-AO need not resort to Rule 8D always. AO is entitled to invoke section 14A(2), Rules cannot prevail over the Act – ITAT

Disallowance us 14A(2)-AO need not resort to Rule 8D always. AO is entitled to invoke section 14A(2), Rules cannot prevail over the Act – ITAT

March 15, 2017 Income Tax, ITAT, Judgments
Disallowance us 14A(2)-AO need not resort to Rule 8D always. AO is entitled to make disallowance u/s 14A(2), Rules cannot prevail over the Act – ITAT  ABCAUS Case Law Citation: ABCAUS 1172 (2017) (03) ITAT The Grievance: The assessee had challemged the order of the CIT invoking revisionary …
Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts non disclosure as inadvertent

Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts non disclosure as inadvertent

March 15, 2017 Income Tax, ITAT, Judgments
Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts that non disclosure was inadvertent not willful.    ABCAUS Case Law Citation: ABCAUS 1171 (2017) (03) ITAT The Grievance: The appellant assessee had challenged the order of CIT(A) confirming the order of Assessing Officer …