Category: Income Tax
In absence of cost of acquisition of development rights, TDR cannot be taxed as a capital gain. Supreme Court dismissed SLP of Department ABCAUS Case Law Citation:ABCAUS 3097 (2019) (08) SC Important case law relied upon by the parties:Sambhaji Nagar Co-op. Hsg. Society Ltd. (2015) 370 ITR 325 …
Issue of notice u/s 148 by Non jurisdictional AO not valid. Section 292BB not applicable where assessee had already objected the issue before AO ABCAUS Case Law Citation:ABCAUS 3096 (2019) (08) ITAT The instant appeal filed by the assessee was directed against the order of CIT(A). The assessee …
Finance Act 2019 download. the Finance (No. 2) Act, 2019 has received the assent of the President on 1st August, 2019 MINISTRY OF LAW AND JUSTICE(Legislative Department) New Delhi, the 1st August, 2019/Shravana 10, 1941 (Saka) The following Act of Parliament received the assent of the President on …
e-Filing Lite version of website launched by Income tax department with limited functionality Income tax department is launching ‘e-Filing Lite’, a lighter version of e-Filing portal. The Lite version is expected to load quickly and can be especially helpful in peak filing time. The lighter version of e-Filing …
Extension of time of the Task Force for drafting a New Direct Tax Legislation to 16.08.2019 Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 31st July, 2019 PRESS RELEASE Extension of time of the Task Force for drafting a New Direct Tax Legislation …
VVIP Chopper Scam -ITD conducted search on connected group. The group was allegedly indulged in over-invoicing of imports through Dubai based operator As per Press Release issued by the MoF, Income Tax Department conducted search action on 24th July, 2019, on a Hyderabad based group engaged in the …
Order of remand by ITAT does not give rise to any substantial question of law warranting an appeal, under Section 260-A of the Income Tax Act ABCAUS Case Law Citation:ABCAUS 3094 (2019) (07) HC The instant appeals were filed under Section 260-A of the Income Tax Act, 1961 …
Certificate u/s 197 given by AO under dictation of superior officer bad in law. It’s a quasi-judicial decision has to be taken by the AO on objective criteria and relevant material – High Court ABCAUS Case Law Citation:ABCAUS 3093 (2019) (07) HC Important Case Law relied upon by …
Lack of significant discussion of every argument by ITAT does not constitute a substantial question of law – High Court upheld revision u/s 263 ABCAUS Case Law Citation:ABCAUS 3092 (2019) (07) HC The assessee had appealed under Section 260A of the Income Tax Act, 1961 (the Act) alleging …
Revision u/s 263 upheld as AO failed to initiate penalty proceedings u/s 271(1)(c) where assessee increased income in revised return filed u/s 148 ABCAUS Case Law Citation:ABCAUS 3091 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:CIT v. Bhikaji Dadabhai and Co. 42 ITR 123ACIT vs. …
