Category: Income Tax
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th July, 2016. Press Release Sub : Signing of Advance Pricing Agreements by CBDT The Central Board of Direct Taxes (CBDT) entered into seven (7) Unilateral Advance Pricing Agreements (APAs) today, i.e., …
Additional depreciation u/s 32(1)(ii) on Capital Work in Progress converted into plant and machinery during the year is allowable – ITAT ABCAUS Case Law Citation: 976 2016 (07) ITAT Assessment Year: 2006-07 Date/Month of Judgment/Order: July 2016 Important Judgments Cited: JCIT vs. Lotus Energy (India) Ltd. 68 taxmann.com …
Forming opinion on the basis of information received by Investigation wing does not amount to satisfaction of the AO to reopen the case u/s 147 – ITAT ABCAUS Case Law Citation: 975 2016 (07) ITAT Assessment Year: 2004-05 Date/Month of Judgment: July 2016 Important Case Laws/Judgments  Cited: Pr. …
Document pertaining to earlier year also constitutes record and if the same is over-looked, it amounts to a mistake apparent on record u/s 154 – ITAT ABCAUS Case Law Citation: 974 2016 (07) ITAT Assessment Year: 2009-10 Date/Month of Judgment: July 2016 Important Judgments cited: Sunil Sahni vs. …
Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss though not admissible as bad debts written off u/s s 36(1)(vii) – ITAT ABCAUS Case Law Citation:973 2016 (07) ITATAssessment Year: 2010-11Date/Month of Judgment: July 2016 Brief Facts of the Case:The assessee firm was engaged in rendering legal services including …
No. 312/ 67/ 2016-0T Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 14th July 2016 Office Memorandum Sub: – Expeditious disposal of refunds in non-CASS cases – relaxation of requirements of Section 245 of the I. T. Act 1961 …
Limited Scrutiny Conversion into complete scrutiny-AO to form reasonable view Instruction No. 5/2016 Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes North Block, New Delhi, the 14th of July, 2016 Subject: Direction regarding scope of enquiry in cases under ‘Limited Scrutiny’ selected through CASS 2015 …
Income Declaration Scheme ICDS 2016 Clarifications clarifying effective rate and 10 new FAQ  to address further queries Circular No. 27 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 14th day of July, 2016 Clarifications on the …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 14th July, 2016 Sub: The Income Declaration Scheme 2016 – Issue of further FAQs The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes …
Compulsory manual selection of cases for scrutiny criteria during the Financial Year 2016-2017 Instruction No. 4/2016 Government of IndiaMinistry of FinanceDepartment of Revenue (CBDT) North-Block, New DelhiDate: 13th of July, 2016 ToAll Pr. Chief-Commissioners of Income-tax/Chief-Commissioners of Income-taxAll Pr. Directors-General of Income-tax/Directors-General of Income-tax  Sir/Madam Subject: Compulsory …
