Category: Income Tax

Procedure e-filing Form 27BA for TCS defaults correction for short-non deductions defaults and Role of Accountant. CBDT Notification-12/2016

December 8, 2016 Income Tax
Procedure e-filing Form 27BA for TCS defaults correction for short-non deductions defaults and Role of Accountant. CBDT Notification F. No. DGIT(S)/CPC(TDS)/NOTIFICATION/2016-17 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi. Notification No. 12/2016 New Delhi, 8th December, 2016 Subject: – Procedure …
Gujarish film promotion expenses by Hrithik Roshan disallowed. Amount paid to TV show Saregama contestants was not professional expenses

Gujarish film promotion expenses by Hrithik Roshan disallowed. Amount paid to TV show Saregama contestants was not professional expenses

December 7, 2016 Income Tax, ITAT, Judgments
Gujarish film promotion expenses by Hrithik Roshan disallowed. Amount paid to TV show Saregama contestants voluntarily was not connected to his profession-ITAT ABCAUS Case Law Citation: ABCAUS 1078 (2016) (12) ITAT Assessment Year: Brief Facts of the Case: In the present case, both the appellant assessee (Hrithik Roshan) …
Business promotion personal nature gift expenses disallowance without specifying any specific items not connected with business activity deleted by ITAT

Business promotion personal nature gift expenses disallowance without specifying any specific items not connected with business activity deleted by ITAT

December 7, 2016 Income Tax, ITAT, Judgments
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

Demonetisation irregularities-CBDT facing man-power shortage. CBDT Chairman asks PrCCITs to spare AOs and Inspectors for Investigation Wing

December 7, 2016 Income Tax
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

Serious irregularities found Post De-monetization referred to CBI-ED by CBDT to examine the criminal conduct for immediate necessary action

December 6, 2016 Income Tax
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 HC decisions

No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to HC decisions

December 6, 2016 Income Tax, ITAT, Judgments
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 …