Category: Income Tax
No merit in holding that estimated addition has to be made on account of fall in gross profit rate. ITAT deleted addition ABCAUS Case Law Citation:ABCAUS 3211 (2019) (12) ITAT In the instant case, appeal was filed by assessee against the order of CIT(A) on the issue of …
DG Anti-Corruption Bureau, Jaipur notified as authority for disclosure of information of assessee u/s 138 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No.106/2019 New Delhi, the 30th December, 2019 S.O. 4709(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section …
Extension of due date for linking of PAN with Aadhaar from 31st December, 2019 to 31st March, 2020. The CBDT in exercise of the powers conferred under sub section 2 of section 139AA of the Income tax Act, 1961 has issued the following notification further extending the due …
New Rule 119AA – CBDT prescribes modes of electronic payment for the purpose of section 269SU Finance Act No. 23 of 2019 inserted a new section namely 269SU , w.e.f. 1-11-2019 which provided for acceptance of payment through prescribed electronic modes. As per the said section, every person, …
When cash deposit was fully explained no peak credit addition was required as directed by ITAT while remitting the matter back to Assessing Officer ABCAUS Case Law Citation:ABCAUS 3210 (2019) (12) ITAT The single issue involved in the instant case was confirmation by the CIT(A)of the addition made …
Income Tax appeals pending with CIT(A) for more than 5 years to be disposed off by 31.03.2020 – CBDT In a communication addressed to all Pr. CCITs, CBDT has expressed serious concern over non-disposal of appeals pending for more than 3 years and 5 years with CIT(A). The …
Income tax department not entitled to make application to Court for returning seized property. Sessions Court dismissed Revision Application ABCAUS Case Law Citation:ABCAUS 3209 (2019) (12) AC Important case law relied upon by the parties:Union Bank of India Vrs. Judicial Magistrate 1983 ITRDeputy Director of Income Tax (Investigation) Vrs..State of Gujarat and Anr 319 ITR …
Deadline for submitting response in e-assessment proceedings is 29.12.2019. As per instruction circulated by the Directorate of Income Tax (Systems), the deadline for submitting response in e-assessment proceedings is 29.12.2019. It has been stated that the facility for electronic submission of documents through “e-proceedings” options in income tax …
CBDT appoints 187 IRS officers to the grade of Joint Commissioner of Income Tax (JCIT) on ad-hoc basis CBDT has appointed 187 officers of Indian Revenue Service to the grade of Joint Commissioner of Income Tax (JCIT) purely on ad-hoc basis in Level – 12 in the pay …
Income Tax Department can not recover outstanding dues under MPID Act as it cannot be treated like the claim of investors ABCAUS Case Law Citation:ABCAUS 3208 (2019) (12) AC In the instant case, the Income Tax Department (ITD/Revenue)had filed a Miscellaneous Application before the designated Sessions Court seeking …
