CBDT promoted 97 Officers to the grade of Principal Commissioner of Income Tax (PCIT). Also, few transfers and assignment have also been made in the grade of PCIT.
- Expenses of ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act.
- Compliance history of supplier can’t be used to invalidate genuine business transactions of buyer
- Reassessment quashed as AO issued notice u/s 148 instead of 153C as reopening was based on search
- Empanelment of CA/CMA /Legal firm for FEMA & other allied services at EPIL
- Individual contract for booking persons for participation in event not event management liable to service tax
