Category: Supreme Court

Disallowance us 40(a)(ia) applies to amounts paid during the year also-Supreme Court. Allahabad HC judgment overruled

Disallowance us 40(a)(ia) applies to amounts paid also-Supreme Court. Allahabad HC judgment holding that it applies to amount payable at the year end overruled ABCAUS Case Law Citation: ABCAUS 1227 (2017) (04) SC Date/Month of Pronouncement: May, 2017 The Controversy-Section 40(a)(ia) applies to sums paid or payable? Section …

Reopening for cash deposits for non response to notice u/s 133(6) illegal where assessment was completed u/s 143(3)/147 4 years before

Reopening for cash deposits for non response to notice u/s 133(6) is illegal where assessment was completed u/s 143(3)/147 and 4 years have lapsed. Soon after the demonetization, the Income Tax Department (‘Department’) had launched a scheme called “operation Clean money” for online verification of cash deposits in …