Category: Income Tax

India-Slovenia DTAA Amendments. India-Slovenia Double Taxation Avoidance Convention amended to curb tax evasion and tax avoidance between two countries

India-Slovenia DTAA Amendments. India-Slovenia Double Taxation Avoidance Convention amended to curb tax evasion and tax avoidance between two countries

May 19, 2016 Income Tax
India-Slovenia DTAA Amendments Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 19th May, 2016. Sub: India and Slovenia sign Protocol amending the India-Slovenia Double Taxation Avoidance Convention. India and Slovenia have signed a Protocol amending the existing Convention …
Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad.

Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad.

May 18, 2016 Income Tax, ITAT, Judgments
Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad. Case Law Details: IT(SS)A.No.24/RJT/2013 Hitesh Mulchand Doshi (Appellant) vs. ACIT (Respondent) Date of Order/Judgment: 16/05/2016 Important Judgments Cited: ITO Vs. Gope M. Rochlani, …
Reopening us 147 148 invalid if assessee replied questionnaire raising specific queries during original assessment as it would amount to change of opinion

Reopening us 147 148 invalid if assessee replied questionnaire raising specific queries during original assessment as it would amount to change of opinion

May 17, 2016 High Courts, Income Tax, Judgments
Reopening us 147 148 invalid if assessee replied questionnaire raising specific queries during original assessment as it would amount to change of opinion-Delhi High Court. Case Law Details: WP(C) 2526/2015 Allied Strips Limited (Petitioner) vs. Assistant Commissioner of Income Tax  (Respondent) Date of Judgment: 12/05/2016 Coram: Justice Sanjeev …
CBDT Instruction No 1-2015 held illegal and quashed by Delhi High Court. Refunds not to be denied to assessees for notices issued u/s 143(2) cases

CBDT Instruction No 1-2015 held illegal and quashed by Delhi High Court. Refunds not to be denied to assessees for notices issued u/s 143(2) cases

May 17, 2016 High Courts, Income Tax, Judgments
CBDT Instruction No 1-2015 held illegal and quashed by Delhi High Court It further directed that the said instruction shall not be relied upon to deny refunds to the Assessees in whose cases notices might have been issued under Section 143(2) of the Income Tax Act, 1961. Case Law Details: …
PE under Indo-US DTAA-Adobe India not PE of Adobe Systems USA as agent must have authority to conclude contracts on behalf of the enterprise

PE under Indo-US DTAA-Adobe India not PE of Adobe Systems USA as agent must have authority to conclude contracts on behalf of the enterprise

May 17, 2016 High Courts, Income Tax, Judgments
PE under Indo-US DTAA-Adobe India not PE of Adobe Systems USA as agent must have authority to conclude contracts on behalf of the enterprise-Delhi High Court Case Details: WP(C) 2384, 2385, 2390 of 2013 Adobe Systems Incorporated  (Petitioner) vs. Assistant Director of Income Tax & Anr (Respondents) Date of …
Income Tax Website Legal Corner

Income Tax Website Legal Corner. Questions of Law admitted or dismissed by Bombay High Court to be displayed section­wise.

May 16, 2016 High Courts, Income Tax, Judgments
Income Tax Website Legal Corner. Questions of Law admitted or dismissed. by Bombay High Court to be displayed section­wise. Case Law Details: ITA No. 2287 OF  2013 The Commissioner of Income Tax­8 (Appellant) vs. M/s. TCL India Holdings Pvt. Ltd (Respondent) Date of Judgment: 06-05-2016 Coram: Justice M. S. Sanklecha and Justice A. K. Menon The question:  This appeal was filed by the Revenue raises questions with regard to …
FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantnages-ITAT

FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantnages-ITAT

May 15, 2016 Income Tax, ITAT, Judgments
FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantages-ITAT Hyderabad Case Law Details: ITA.No.1782/Hyd/2011 Assessment Year 2008-2009 Smt. M. Nagarathnamma Madanapalle vs.  Income Tax Officer date of Judgment/Order: 13/05/2016 Brief Facts of the Case: During …
Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction

Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction

May 15, 2016 Income Tax, ITAT, Judgments
Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction. This was held by ITAT hyderabad in a recent judgment as under: Case Law Details: ITA.No.848/Hyd/2015 Assessment Year 2010-2011 Income Tax Officer (Appellant) vs. Kondal Reddy Mandal Reddy …
DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need-ITAT

DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need-ITAT

May 15, 2016 Income Tax, ITAT, Judgments
DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need. This was held in a recent judgment by ITAT Hyderabad. Case Law Details: ITA.No.708/Hyd/2014 Assessment Year 2008-2009  T. Vijayasaradhi  vs. Addl. CIT Date of …