Demonetisation irregularities-CBDT facing man-power shortage. CBDT Chairman asks PrCCITs to spare AOs and Inspectors for Investigation Wing
After the demonetisation and withdrawal of Old currency notes of Rs. 500/- and Rs. 1000/-, the Investigation Directorates of the Income Tax Departments have intensified enforcement actions in detecting serious irregularities.
In view of the shortage of the man-power for increased work load of the Investigation Wing which is likely to intensify more in the coming days, the Chairman, CBDT have asked all Principal Chief Commissioner to re-organise the work of the assessing officers (AOs) and to identify such officers along with Inspectors for making them available to the Investigation Directorate of their respective Regions.
Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh - ITAT…
Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be…
When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation…
ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of…
Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of…
Corporate guarantees executed by the corporate debtor constitute “financial debt” under IBC and banks to be recognized as financial creditors…