Category: Income Tax
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 …
No disallowance us 40aia if Form 15G 15H not furnished to Commissioner as there is no liability to deduct TDS. In such cases remedy has been provided u/s 272A(2)(f) – ITAT ABCAUS Case Law Citation: 972 2016 (07) ITAT Assessment Year(s) : 2007-08, 2010-11 Date/Month of Judgment : …
Expenditure allowed in assessment proceedings can not be restricted/disallowed in rectification proceedings u/s 154 which has a limited scope – ITAT ABCAUS Case Law Citation: 971 2016 (07) ITAT Assessment Year: 2003-04 to 2007-08 Date/Month of Judgment: July, 2016 Brief Facts of the Case: The assessee filed returns of …
Wheel loaders, Graders are Motor vehicles and are certainly eligible for higher depreciation rate at 40% as per Appendix I of Rule 5 of the Income Tax Rules, 1962 – ITAT ABCAUS Case Law Citation: 970 2016 (07) ITAT Assessment Year 2005-06 Date/Month of Judgment: July 2016 Important …
F. No. 225/162/2016/ITA.II Government of India Ministry of Finance Department of Revenue CBDT North Block, New Delhi, dated the 11th of July, 2016 To All Pr. CCsIT/Pr. CCIT(International-tax)/CCIT(Exemptions)/Pr. DsGIT Subject: – Issue of notices under section 143(2) of Income-tax Act, 1961 in revised format-regd. With reference to the …
