Category: Income Tax
Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6), Section 194C(7) and section 194C(6) are independent to each other ABCAUS Case Law Citation: ABCAUS 3040 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: ACIT vs Mohammed Suhail The instant appeal was filed by …
Additional Charge in the grade of Pr. CCIT/ CCsIT – CBDT Order. CCIT, Additional Charge is for Vijayawada, Mumbai, Chennai, Kolkata F.No. A-22011/2/2019-Ad.VIGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes OFFICE ORDER NO. 146 OF 2019 North Block, New Delhi The 28th June, …
Launch of rectification functionality for ITR (for ITRs – 1,2,3,4,5 & 6) for A.Y. 2017-18 in Rectification Module of ITBA ITBA- Rectification Instruction No.5 DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Center, Ground Floor, E-2,Jhandewalan Extension, New Delhi – 110055 F.No. System/ITBA/lnstruction/Rectification/186/2018-19 Dated: 28/06/2019 To All Principal Chief Commissioners …
CBDT has exempted 702 startups from angel tax u/s 56(2)(viib) of Income Tax Act. Startups receiving investments from Ventures Capital Fund are exempt from taxation as per provision of Section 56(2)(viib) of Income Tax Act 1961 (Act). Angel Fund is sub category of Ventures Capital Fund under Category-I …
CBDT transfers 385 officers in the grade of Assistant Commissioner/Deputy Commissioner CBDT has ordered the following transfer/postings of the officers in the grade of Assistant Commissioner/Deputy Commissioner of Income Tax with immediate effect. Region No. of Transfers TAMILNADU& PUDUCHERRY 32 KARNATAKA & GOA 9 KERALA 10 ODISHA 1 …
Cash Payments itself not undisclosed income of assessee in the absence of corresponding asset found at the time of search. ITAT deleted penalty u/s 271AAB. ABCAUS Case Law Citation: ABCAUS 3035 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: NTPC vs. CIT 229 ITR 383 …
Not Pre-filling of ITR / TDS data-Taxpayers advised to verify pre-filled data carefully & fill manually if required, use latest ITR Preparation Software Income Tax e-filing portal has cautioned the taxpayers to note the followings in connection with pre-filling of ITRs- Not Pre-filling of ITR / TDS data …
Addition made only on the basis of statement which stood retracted on the next day itself was unjustified. ITAT deleted the addition ABCAUS Case Law Citation: ABCAUS 3034 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Pullangode Rubber Produce Company Ltd. Vs State of Kerala …
Reassessment order quashed for not supplying reasons recorded for re-opening the assessment u/s 148 in spite of assessee’s written request ABCAUS Case Law Citation: ABCAUS 3033 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. Dr. T. K. Dayalu (2011) 14 taxmann.com 120 GKN …
Income Tax Department to share assets information of loan defaulters with PSB as per Schedule AL to ITR which contains particulars of assets and corresponding Liabilities F. No.225/148/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block New Delhi, dated 25th June, …
