Category: Income Tax

CBDT

Approval of Eligible Projects-Schemes us 35AC. modification-extension

August 19, 2016 Income Tax
Approval of Eligible Projects-Schemes us 35AC. Requests received after 31-12-2016 for grant-modification-extension beyond 31032017 not to be considered.   Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes PRESS RELEASE New Delhi, 19th August, 2016. Sub: Approval of Eligible Projects or Schemes under section 35AC of …

Income-tax e-nivaran form for online grievances lodging/disposal. Step by Step Procedures. Categories/Sub-Categories of grievances that can be lodged

August 19, 2016 Income Tax
Income-tax e-nivaran form for online grievances lodging -Step by Step Procedures Income Tax Department has launched income-tax e-nivaran form for online lodging and disposal of grievances related to Assessing Officers, CPC-TDS/ITR, e-filing website team, NSDL, SBI refund Banker and Directorate of Systems. Matters not covered under e-Nivaran List …
5th Set of FAQ-The Income Declaration Scheme 2016. CBDT has issued further clarification and FAQ vide circular no. 29 of 2016 dated 18-08-2016

5th Set of FAQ-The Income Declaration Scheme 2016. CBDT has issued further clarification and FAQ vide circular no. 29 of 2016 dated 18-08-2016

August 18, 2016 Income Tax
5th Set of FAQ-The Income Declaration Scheme 2016 Circular No.29 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 18th day of August, 2016 Clarifications-5th Set of FAQ on the Income Declaration Scheme 2016 The Income Declaration …
IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index. CBDT Notification 74/2016

IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index. CBDT Notification 74/2016

August 18, 2016 Income Tax
IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index.  GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, the 17th August, 2016 Notification No. 74/2016 S.O._______- In exercise of the powers …
Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT

Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT

August 18, 2016 Income Tax, ITAT, Judgments
Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT ABCAUS Case Law Citation: 992 2016 (08) ITAT Assessment Year: 2006-07 Date/Month of Judgment: August 2016 Brief Facts of the Case: The assessee was a partnership …
ITAT

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business – ITAT

August 18, 2016 Income Tax, ITAT, Judgments
Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business a the nature of the business of assessee company included furnishing of guarantee to debts borrowed by subsidiary company. ABCAUS Case Law Citation:991 2016 (08) ITATAssessment Year: 2005-06Date/Month of the …
Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT

August 14, 2016 Income Tax, ITAT, Judgments
Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT ABCAUS Case Law Citation: 989 2016 (08) ITAT Assessment Year: 2009-10 Date/Month of Judgment/Order: August, 2016 Brief Facts of the Case: The assessee in his return …
Notional interest on loans-advances when no such agreement – It is not necessary to pay interest in absence of such arrangement. Additions deleted by ITAT

Notional interest on loans-advances when no such agreement – It is not necessary to pay interest in absence of such arrangement. Additions deleted by ITAT

August 14, 2016 Income Tax, ITAT, Judgments
Notional interest on loans-advances when no such agreement – It is not necessary to pay interest in the absence of such arrangement. Additions made deleted by ITAT ABCAUS Case Law Citation: 988 2016 (08) ITAT Assessment year: 2010-11 Date/Month of Judgment/Order: August, 2016 Brief Facts of the Case: The …
IDS Scheme 2016 Amendment in Form-2 Form-3 related to Acknowledgement and Payment Intimation CBDT Notification No. 70/2016

IDS Scheme 2016 Amendment in Form-2 Form-3 related to Acknowledgement and Payment Intimation CBDT Notification No. 70/2016

August 13, 2016 Income Tax
IDS Scheme 2016 Amendment in Form-2 Form-3 related to Acknowledgement and Payment Intimation  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th August, 2016 S.O. 2705(E).— In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 …