Category: Income Tax
Business promotion personal nature gift expenses disallowance without specifying any specific items not connected with business activity deleted by ITAT ABCAUS Case Law Citation: ABCAUS 1077 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 01-12-2016 Brief Facts of the Case: During the assessment proceedings, The Assessing Officer …
Demonetisation irregularities-CBDT facing man-power shortage. CBDT Chairman asks PrCCITs to spare AOs and Inspectors for Investigation Wing After the demonetisation and withdrawal of Old currency notes of Rs. 500/- and Rs. 1000/-, the Investigation Directorates of the Income Tax Departments have intensified enforcement actions in detecting serious irregularities. …
Serious irregularities found Post De-monetization referred to CBI-ED by CBDT to examine the criminal conduct for immediate necessary action Ministry of Finance 6th December, 2016 Press Release Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) …
No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to High Court decisions ABCAUS Case Law Citation: ABCAUS 1076 (2016) (12) ITAT Assessment Year: 2008-09 Date of Judgment: 01-12-2016 Brief Facts of the Case: During the scrutiny proceedings of the …
Organizing tax payer educational workshops in FY 2017-18 regarding online e-filing, TDS credit mismatch, rectification, grievances redressal etc. by Income Tax Department. Addl. DIRECTOR GENERAL OF INCOME TAX (Tax Payer Services)-II, Ministry of Finance, Govt. of India E-2, ARA Centre, Jhadewalan Ext.,New Delhi-110055 Phone No. 011-23519117, Fax No. 011-23593268 …
BRICS Heads of Revenue and expert meeting on Tax Matters Mumbai. Communiqué of Meeting Issued on 06-12-2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 06 December, 2016 PRESS RELEASE Sub : Meeting of the BRICS Heads of Revenue and …
Exemption us 10(19A) apply to whole palace including let out part and not confined only to portion in actual occupation of Ruler-Supreme Court ABCAUS Case Law Citation: ABCAUS 1075 (2016) (12) SC Assessment Year: 1978-79 Important Case Laws cited: Maharawal Laxman Singh vs. C.I.T. C.I.T. vs. H.H. Maharao …
Verification of High Value Suspicious IDS 2016 Declarations by Abdul Razzaque with declaration Rs. 2 lakh crores suspicious in nature-Press Release Ministry of Finance 04-December, 2016 Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme (IDS) was announced in the Union Budget …
Penalty initiated for concealment levied for inaccurate particulars and concealment both is invalid. AO must frame a precise charge u/s 271(1)(c)-ITAT ABCAUS Case Law Citation: ABCAUS 1073 (2016) (12) ITAT Assessment Year: 2009-10 Date of Judgment: 29-11-2016 Important Case Laws cited: Zoom Communications P Ltd 327 ITR 510 …
GUIDANCE NOTE ON FATCA and CRS updated 30-11-2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division Guidance Note on Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated as on 30th November 2016 Purpose of …
