Category: Income Tax
Procedure to be followed by AO in handling cases transferred out of Faceless Assessment/Penalty Scheme Procedure for handling of assessment/penalty cases by Jurisdictional Assessing Officers (JAO) in respect of assessments/penalties transferred out of Faceless Assessment u/s 144B(8) of the Income-tax Act,1961or under Faceless Penalty Scheme, 2021 Clause (8) …
CBDT exempts income of Haryana Real Estate Regulatory Authority (RERA) u/s 10(46) CBDT has issued Notification No. 100/2021 dated 4th Sep 2021 exempting income of Haryana Real Estate Regulatory Authority (RERA) PAN: AAAJH0631G u/s 10(46) of the Income Tax Act 1961. The specified income exempted is as under: …
Power to grant personal hearing under Faceless Appeal Scheme 2020- Supreme Court to decide if discretion be limited to Chief Commissioner and Director General only CBDT in August 2020 notified Income Tax Faceless assessment Scheme 2020. Section 144B provides that in a case where a variation is proposed …
CBDT notifies Form 12BBA as declaration by senior citizens of the age of 75 years or more for claiming exemption from filing return of income u/s 194P Finance Act 2021 has inserted a new section 194P in the Income Tax Act 1961 to provide Relaxation for certain category …
Addition for handling loss in petrol pump allowed as it was within permissible limit of 0.75% prescribed by Essential Commodities Act ABCAUS Case Law CitationABCAUS 3548 (2021) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made …
Application for Registration u/s 12A can not be rejected for mere not filing of income-tax return In the instant case, the assessee had challenged the order passed by the Commissioner of Income-tax (Exemption) under section 12AA (1) (b) (ii) of the Income Tax Act, 1961 (the Act) rejecting …
Authority for Advance Rulings ceases and Board for Advance Rulings comes into effect from 1st September 2021. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No.97 /2021 New Delhi, the 1st September, 2021 S.O. 3562(E).—In exercise of the powers conferred by the second proviso to sub-section …
CBDT constitutes three Boards for Advance Rulings u/s 245-OB. The Board for Advance Rulings shall consist of two members, each being an officer not below the rank of Chief Commissioner, as may be nominated by the Board. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 96/2021 …
Technology Upgradation Fund Subsidy received was capital receipt and not taxable. Supreme Court dismisses the SLP of the Department In the instant case, the Revenue had filed SLP before the Hon’ble Supreme Court challenging the order passed by the Hon’ble High Court in confirming that amount of subsidy …
Further extension of due date of payment under Direct Tax Vivad se Vishwas Act without additional amount MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification Notification No. 94/2021 New Delhi, the 31st August, 2021 S.O. 3536(E).—In exercise of the powers conferred by section 3 of the …
