Category: Income Tax
Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales of such purchases only profit element can be taxed – ITAT ABCAUS Case Law Citation: ABCAUS 1181 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: March, 2017 Brief Facts …
Cash Transaction Limit us 269ST reduced to Rs 2 lakhs. As per Revenue Secretary tweet, Govt in official amendment to Finance Bill has proposed so. Finance Bill 2017 had proposed a check on domestic black money by inserting a new section 269ST in the Income Tax Act, 1961 to provide that …
No need to Exempt interest on minor Maintenance deposit us 64 when the money is deposited in favour of child on the direction of the Court-Law Commission Prospects of Exempting Income arising out of Maintenance Money of ‘Minor’ The Punjab and Haryana High Court, in the case Payal …
TDS JAGRUKTA movie TDS- JAGRUKTA a movie by DTRTI, Kolkata in English, Hindi, Bengali, Marathi, Gujarati, Punjabi, Telgu, Tamil &Kannad has been released by Shri Gopal Mukherjee, Member ( Rev & TPS), CBDT. The Video starts with a sholk from Sanskrit followed by a short story of how …
Procedure of TAN Application through SPICe Form No. INC-32 of MCA F.No. Pr. DGIT(S)/ADG-2/TAN Application Notification/20992-21016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) Notification No. 2 of 2017 New Delhi, th of March, 2017 Procedure of TAN application through Simplified …
Advance for purchasing capital assets not deemed divided u/s 2(22)(e). It was a trade advance in the normal course of business – ITAT ABCAUS Case Law Citation: ABCAUS 1180 (2017) (03) ITAT The Grievance: The appellant assessee company was aggrieved by the addition made by the Assessing Officer …
CIT-A not to reject new claims made first time on the ground that it was not raised before AO. Litigants can also forget vital issues while filing appeal – ITAT ABCAUS Case Law Citation: ABCAUS 1179 (2017) (03) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: March, 2017 …
Mistake in Tax audit report-taxes can not be collected without authority of law. It is bounden duty of authorities to consider submission on merits – ITAT In a recent judgment, ITAT Mumbai while seeting aside the issue of additions based on erroneous tax audit report held that taxes …
Income Tax Department has published list of 29 tax defaulters in leading newspapers Income Tax Department has published a list of 29 tax defaulters in leading newspapers with advice to pay the tax and arrears immediately. However it is to be noted that in all the 29 cases …
Affidavit statement has to be taken as correct unless controverted by material filed by other party to counter the statement made therein – ITAT ABCAUS Case Law Citation: ABCAUS 1177 (2017) (03) ITAT The Grievance: This assessee was aggrieved by the order passed by the CIT(A) upholding the …
