Category: Income Tax
No Penalty us 271(1)(c) for claiming excess depreciation in regular course with firm belief that it is legally allowable and supported by tax audit report-ITAT ABCAUS Case Law Citation: ABCAUS 1100 (2017) (01) ITAT Assessment Year : 2007-08 Important Case Laws relied upon: CIT vs. Suhrid Geigy …
Income Tax Department receives Silver Award for Innovations in e-filing of Income Tax Returns project- National Awards on e-Governance 2016-17. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 10 January, 2017 Press Release Income Tax Department receives Silver Award for …
New Design PAN Card with QR Code from 10-01-2017. Quick Response Code having details of the PAN applicant for Aadhaar based based e-KYC PAN Circular No.: NSDL/TIN/2017/001 …
Reassessment-TDS certificate-PL Account Receipt Difference. It is a settled law that an assessment could not be reopened only on the basis of difference in TDS certificate and receipts shown in the P&L account.-ITAT ABCAUS Case Law Citation: ABCAUS 1097 (2017) (01) ITAT Assessment Year : 2009-10 Important Case …
Lost misplaced passbook entries-Account holder presumed to know bank deposits withdrawals details even if account is closed as there is no impediment to obtain a duplicate pass book-ITAT ABCAUS Case Law Citation: ABCAUS 1096 (2017) (01) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee …
No withdrawal from bank if PAN-Form 60 not provided. Bank to report cash deposits from 01-04-2016 to 09-11-2016 also. New Rules Income-tax Rules amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts …
Income-tax-efiling portal menus post login restructured for making better user experience. Menu Restructuring – User Guide Menu Restructuring The Functionalities under menus available post login to e-Filing portal are restructured for making better user experience. After restructuring, the functionalities available under “My Account” are explained below: 1. View …
India Kazakhstan amend DTAC for avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income. India and Kazakhstan sign Protocol to amend the Double Taxation Avoidance Convention (DTAC) India and Kazakhstan signed here today in the national capital a Protocol to amend …
CBDT Circular-TDS and other deductions from Salaries FY 2016-17 CBDT has issued TDS circular for deduction of tax at source and income tax deduction from salaries u/s 192 of the Income Tax Act, 1961 for the financial year 2016-17 CIRCULAR NO : 01/2017 F.No. 275/192/2016-IT(B) Government of India …
ITAT jurisdiction to examine validity of search SC to decide ITAT jurisdiction to examine validity of search and demand satisfaction note, other evidences on the basis of which search was conducted. In an ongoing litigation in I.A. 2/2016 in Civil Appeal No(s).2734/2013 filed by the Revenue, the latest …
