Category: Income Tax
Penalty 271(1)(b) deleted as assessee had furnished medical certificate of treatment for depression and AO did not bring anything against the evidences of ill-health. ABACUS Case Law CitationABCAUS 3354 (2020) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
Filing Income Tax Form with scanned signature held only procedural defect and curable in nature. ITAT allowed Form 35A filed with DRP. ABACUS Case Law CitationABCAUS 3353 (2020) (08) ITAT Important case law relied upon by the parties:MSM Satellite (Singapore) Pvt. Ltd. vs. JDIT In the instant case, …
Delay in Appeal against TDS CPC order downloaded after two years condoned as the order was never served on assessee ABACUS Case Law CitationABCAUS 3352 (2020) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the late fee for …
DG/Secretary Competition Commission of India notified u/s 138 to disclose information to Income Tax Department MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No.57/2020 New Delhi, the 30th July, 2020 S.O. 2528(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of …
No disallowance for bogus purchase when there is one to one reconciliation of purchase with sales – ITAT ABACUS Case Law CitationABCAUS 3349 (2020) (07) ITAT Important case law relied upon by the parties:Indian Woolen Carpet Factory v. ITAT (2003) 260 ITR 658 (Raj.) (HC)ITO vs. M/s. Super …
Liability of TDS u/s 194C(2) of Transporters for further payments to trucks owners/operators. Supreme Court explains the Law ABCAUS Case Law Citation:ABCAUS 3348 (2020) (07) SC Important case law relied upon by the parties:Commissioner of Income-Tax vs. Hardarshan Singh: (2013) 350 ITR 427J. K. Synthetics Limited vs. Commercial …
Due date for furnishing return of Income (ITR) for AY 2019-20 extended to 30.09.2020 Due date for furnishing return AY 2019-20 extended MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 56/2020 New Delhi, the 29th July, 2020 TAXATION AND OTHER LAWS S.O. 2512(E).–In exercise of …
Mere TDS deduction not decisive factor to treat payment received as income of the assessee ABCAUS Case Law Citation:ABCAUS 3347 (2020) (07) ITAT Important case law relied upon by the parties:CIT vs. Panbari Tea Company Ltd. (1965) 57 ITR 422(SC)Win Chadha vs CIT (International Taxation)Sumati Dayal vs. CIT …
Cash withdrawal to be considered as source of cash deposited in bank after deduction for reasonable household expenses – ITAT ABCAUS Case Law Citation:ABCAUS 3346 (2020) (07) ITAT In the instant appeal, the assessee had challenged the order of CIT(A) in confirming addition made by the Assessing Officer …
Statement of income of investment fund to unit holders u/s 115UB to be in electronic form. CBDT amends form 64C and 64D MINISTRY OF FINANCE(Department of Revenue) Notification No. 55/2020 New Delhi, the 28th July, 2020 INCOME-TAX G.S.R.469(E).—In exercise of the powers conferred by sub-section …
