Category: Income Tax
For typographical error assessee has to invoke Section 154 not Appellate Jurisdiction to rectify mistakes committed during assessment proceedings – ITAT ABCAUS Case Law CitationABCAUS 3626 (2022) (12) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining the additions. The …
Relinquishing ESOP right accrued are taxable as capital gains not profits in lieu of salary u/s 17(3)(iii) – ITAT ABCAUS Case Law Citation ABCAUS 3625 (2022) (12) ITAT Important Case Laws relied upon:CIT vs. Sarangpur Cotton Manufacturing Co. Ltd., 6 ITR 36CIT vs. A. Krishnaswami Mudaliar & Ors. …
CBDT releases list of Exempt Institutions Registered with Unique Registration Number – Order in Form 10AC CBDT vide notification No. 19/2021 dated 26.03.2021 revised the procedure for registration of charitable trusts All trusts/charitable institutes were required to make a fresh application for provisional registration in Form No. 10A …
Assessee’s time cannot be taken for granted by Income Tax Department. Assessee can not be made to appear before the tax authorities again and again ABCAUS Case Law Citation ABCAUS 3624 (2022) (12) ITAT Important Case Laws relied upon:Alkaben B. Patel vs. ITO43 Taxmann.com 333 (Ahm)Sujatha Ramesh vs. …
CBDT issues Circular on deduction of Tax TDS on Salaries u/s 192 of the Income Tax Act, 1961 during FY 2022-23 CBDT has issued Circular No. 24/2022 dated 7th December 2022 specifying guidelines for TDS on Salaries for the Financial Year 2022-23. CBDT Circular – TDS on Salaries …
Investor companies having low income and assets in the form of investments have been created through rotation of money in between the group companies not enough ground to prove that any unaccounted money of the assessee has been introduced in the assessee company warranting addition under section 68 …
Issues already considered by CIT(A) in his order, cannot be again a subject matter of revision by Pr CIT u/s 263 ABCAUS Case Law Citation ABCAUS 3622 (2022) (12) ITAT Important Case Laws relied upon:Southern Motors vs State of Karnataka (2017) 3 SCC 467 (SC) In the instant …
Whether AO applied his mind or not is question of fact not law – SC dismisses SLP of Department challenging setting aside of revisionary order passed u/s 263 of the Income Tax Act 1961 ABCAUS Case Law CitationABCAUS 3621 (2022) (11) SC In the instant case, the Income …
Date of initiation of penalty proceedings in assessment order is the relevant date u/s 275(1)(c) for limitation purpose. ABCAUS Case Law CitationABCAUS 3618 (2022) (11) HC Important Case Laws relied upon by parties Principal Commissioner of Income-Tax vs. Mahesh Wood Products Pvt. Ltd.Principal Commissioner of Income-Tax vs. JKD …
Airlines required to deduct tax at source (TDS) u/s 194H on supplementary commission of travel agents – Supreme Court ABCAUS Case Law CitationABCAUS 3617 (2022) (11) SC Important Case Laws relied upon by partiesHindustan Coca Cola Beverages Pvt. Ltd. v.Commissioner of Income TaxAhmedabad Stamp Vendors Ass.v. Union of …
