Category: Income Tax
Probative worth of Income Tax Proceedings qua lawfulness of the sources of income. SC rejects IT orders/assessment as proof against charge of corruptions ABCAUS Case Law Citation:ABCAUS 1126 (2017) (02) SC Date/Month of Pronouncement: 14th February, 2017 Important Case Laws Cited/relied upon:Commissioner of Income Tax, U.P. Vs. Devi Prasad …
Expeditious refund issue high priority for CBDT. Over 4.19 crore ITRs processed and over 1.62 crore refunds issued during Current Financial Year till 10/02/2017 Ministry of Finance Press Release Dated: 13th Feb, 2017 Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes …
Operation Clean Money by Income Tax Department gets overwhelming response. More than 5.27 lakh taxpayers submitted response till 12-02-2017. Ministry of Finance Press Release Dated: 13th Feb, 2017 Operation Clean Money by IT Dept gets overwhelming response. More than 5.27 lakh taxpayers submitted their response till 12th February, …
Addition us 68 for accommodation entries-don’t shoot the messenger. Addition restricted to commission earned on accommodation entries-ITAT ABCAUS Case Law Citation:ABCAUS 1125 (2017) (02) ITAT Assessment Year : 1995-96Date/Month of Pronouncement: February, 2017 Brief Facts of the Case:The present judgment was delivered in the second round of litigation. …
Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. The AO did not detect mistake but noticed it from the reply of the assessee – ITAT Judgment ABCAUS Case Law Citation:ABCAUS 1124 (2017) (02) ITAT Assessment Year : 2008-09Date/Month of Pronouncement: February, 2017 Important Case …
Limitation Period us 153-Contention was that ITAT had set aside Assessment order of CIT-A only and not order of the Assessing Officer-Allahabad HC Judgment ABCAUS Case Law Citation:ABCAUS 1123 (2017) (02) HC Important Case Laws Cited/relied upon:CIT Vs Purshottamdas T. Patel, reported in 209 ITR 52 (Guj.) Substantial …
FAQ-Online Cash Deposit Transactions Response-Online response can be submitted by 15th Feb 2017. CBDT has issued 35 points FAQ for guidance in the subject Cash Transaction 2016 Frequently Asked Questions Viewing Information 1. Which internet browser should I use to view and file response on e-filing portal? Ans: …
CPC intimation us 143(1) applying MMR on AOP trust invalid as jurisdiction limited for disallowing only prima facie inadmissible deductions, allowances – ITAT In a recent judgment, ITAT Rajkot held that CPC intimation us 143(1) applying MMR on AOP trust invalid as jurisdiction limited for disallowing only prima …
Paperless Assessment proceedings-E-mail based communication. Review of performance. Revised format for reporting disposal of such assessments F.No. 225/267/2015 ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 10th February, 2017 To Pr Chief Commissioners of Income-tax Ahmedabad …
Honest tax-payers will be treated with dignity and courtesy. Greater accountability and probity in actions taken by Income Tax Officers-CBDT GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic .in Tele: 23092648 & Telefax :23092544 SUSHIL CHANDRA …
