Category: Income Tax
Depreciation disallowed when entire asset block not put to use during the year. The Claim that asset once entered block, depreciation should be allowed dismissed by ITAT ABCAUS Case Law Citation: 958 2016 (06) ITAT Assessment Year: 2007-08 Date of Judgment/Order: June, 2016 Brief Facts of the Case: …
GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic.in Tele : 23092648 & Telefax : 23092544 ATULESH JINDAL Chairperson, CBDT & Special Secretary to the Govt. of India D.O. F. No. Dir.(Hqrs.)/Ch.(DT)/39(2)/2015 MOST IMMEDIATE Dated 22nd June, 2016 …
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted The penal provisions are to curb black money and benami transactions and not genuine ones – ITAT ABCAUS Case Law Citation: 957 2016 (06) ITAT Assessment Year: 2009-10 Date/Month of Judgment: June, 2016 Brief Facts of the Case: …
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and a sum is found credited therein – ITAT ABCAUS Case Law Citation: 956 2016 (06) ITAT Assessment Year: 2006-07 to 2010-11 Date/Month of Judgment/Order: June, 2016 Brief Facts …
No TDS deduction on payments specified us 10(23DA) MINSTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No.46 /2016INCOME-TAX New Delhi, the 17th June, 2016 S.O. (E).-In exercise of the powers conferred by sub-section (1F) of section 197A of the Incometax Act, 1961 (43 of 1961) (hereinafter referred …
TDS deduction exemption on payments to bank MINISTRY OF FINANCE (DEPARTMNET OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 47/2016 New Delhi, the 17th June, 2016 S.O. (E).- In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of …
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION New Delhi, the 20th June, 2016 S.O. 2151(E).-In exercise of the powers conferred by section 285BA read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government with respect …
PAN blocking for Recovery from Tax Defaulters The Income Tax Central Action Plan 2016-17 talks of blocking of PAN. The important highlights of the suggestions are as under: 1. Pan Blocking shall be after due notice PAN to be block after due notice to the tax defaulters. 2. PAN blocking …
No arrest of wilful defaulters by income tax department-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 21st June, 2016. Sub: – Clarification regarding News Report on Arrest of Tax Defaulters – reg Certain sections of the press …
Addition of purchases made in March month to closing stock on the assumption that items purchased in month of March could not be consumed utilized fully not accepted and quashed by ITAT. ABCAUS Case Law Citation: 955 2016 (06) ITAT Assessment Year: 2009-10 Date/Month of Judgment/Order: June, 2016 …
