Category: Income Tax

Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT

Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT

December 31, 2016 Income Tax, ITAT, Judgments
Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT ABCAUS Case Law Citation: ABCAUS 1092 (2016) (12) ITAT Assessment Year : 2006-07 Important Case Laws relied upon: CIT VS. SPL’s Siddhartha Ltd. (2012) 345 …
Appeal dismissed for illegible loose papers restored. The Appeal was dismissed by CIT-A for illegible papers filed without covering letter

Appeal dismissed for illegible loose papers restored. The Appeal was dismissed by CIT-A for illegible papers filed without covering letter

December 31, 2016 Income Tax, ITAT, Judgments
Appeal dismissed for illegible loose papers filed without covering letter restored by ITAT ABCAUS Case Law Citation: ABCAUS 1091 (2016) (12) ITAT Brief Facts of the Case: The original assessment was completed making additions on account of unproved share capital. First appeal of the assessee was allowed. In …
India Singapore Sign 3rd Protocol amending DTAA for source based taxation of share capital gains and transfer pricing cases-CBDT

India Singapore Sign 3rd Protocol amending DTAA for source based taxation of share capital gains and transfer pricing cases-CBDT

December 31, 2016 Income Tax
India Singapore Sign 3rd Protocol amending DTAA for  source based taxation of share capital gains and to facilitate relieving of economic double taxation in transfer pricing cases-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 30th December, 2016. Press Release …
Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into tax reduction-ITAT

Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into tax reduction-ITAT

December 30, 2016 Income Tax, ITAT, Judgments
Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into reduction of tax liability-ITAT ABCAUS Case Law Citation: ABCAUS 1090 (2016) (12) ITAT Important Case Laws relied upon: UOI vs. Azadi Bachao Andolan (2003) 263 ITR 706 (SC). …
Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT

Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT

December 29, 2016 Income Tax, ITAT, Judgments
Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT ABCAUS Case Law Citation: ABCAUS 1089 (2016) (12) ITAT The Grievance: The present appeal was directed against the order of Assessing Officer (AO) and CIT(A) inter …

Special Auditor us 142(2A)-Empanelment and Digitisation. Standing Counsel Empanelment- Income Tax ITBA Instruction

December 28, 2016 Income Tax
Special Auditor us 142(2A)-Empanelment and Digitisation. Standing Counsel Empanelment- Income Tax ITBA Instruction by Directorate of I.T. (Systems) ITBA-Administrative Functions Instruction No.4 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 F.No. System/ITBA/Instruction/Administrative/178/2016-17/                 …
PMGKY-2016-acceptance of demonetized currency for deposits tax, penalty, surcharge. CBDT asks Officials to popularise the fact

PMGKY-2016-acceptance of demonetized currency for deposits tax, penalty, surcharge. CBDT asks Officials to popularise the fact

December 27, 2016 Income Tax
PMGKY-2016-acceptance of demonetized currency for deposits  tax, penalty, surcharge. CBDT asks Officials to popularise the inclusion of the fact in RBI FAQ F. No. 385117/20 16-IT(B) Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated: 27.12.2016 To, All Principal Chief Commissioners and Principal …
Nobody should think that tax evasion acceptable. There is need for mindset of voluntary compliance and payment of legitimate taxes-Finmin

Nobody should think that tax evasion acceptable. There is need for mindset of voluntary compliance and payment of legitimate taxes-Finmin

December 26, 2016 Finance Ministry, Income Tax
Nobody should think that tax evasion acceptable. There is need for mindset of voluntary compliance and payment of legitimate taxes-Finance Minister   Finance Ministry Dated: 26-12-2016 Press Release Finance Minister: There is a need for move towards a mindset of voluntary compliance and payment of legitimate taxes should …