Category: Income Tax
Income accumulation application allowed under rectification u/s 154 as assessment was not completed and there was only intimation u/s 143(1) ABCAUS Case Law Citation: ABCAUS 2470 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: Bagalkot Town Development Authority v. CIT CIT Vs. Nagpur Hotel Owner’s …
Brought forward debit balance can not make assessment erroneous and prejudicial to the interest of the Revenue – ITAT quashes Revisionary Order ABCAUS Case Law Citation: ABCAUS 2469 (2018) 08 ITAT In this appeal, the assessee had challenged the correctness of the order of the Principal Commissioner of …
Exclusions from both export and total turnover for deduction u/s 10A – CBDT Circular 4/2018. All charges/expenses in Explanation 2(iv) liable to be excluded Circular No. 4/2018 F. No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th August …
Compensation paid to retiring partner consequent to family settlement-Deduction allowed as capital of firm was kept intact and business was continued by other coparceners partners. ABCAUS Case Law Citation: ABCAUS 2466 (2018) 08 ITAT The instant appeal was filed by the assessee directed against CIT(A)’s order in sustaining …
Interest for late payment of service tax not penal in nature but only compensatory. ITAT deletes disallowance made under section 37 ABCAUS Case Law Citation: ABCAUS 2465 (2018) 08 The instant appeal was filed by the assessee directed against CIT(A)’s order in holding that the interest on delayed …
Deliberate non production of books of account held as concealment of income. Books maintained in computer even if lost can be generated. – High Court ABCAUS Case Law Citation: ABCAUS 2463 (2018) 08 HC In number of, if not the most cases of civil contractors, they often and …
Tahbazari is not covered under TCS provisions u/s 206C(1C). Toll plaza does not include Tahbazari as there is no toll set up when licence is issued – High Court ABCAUS Case Law Citation: ABCAUS 2462 (2018) 08 HC The instant appeal had been filed by the Apar Mukhya …
Agricultural land-revenue records can not be rejected without any basis or material evidence holding it to be an mechanical entry – ITAT ABCAUS Case Law Citation: ABCAUS 2461 (2018) 08 ITAT The instant appeal had been filed by the assessee against the order passed by CIT(A) in sustaining …
Court of Munsiff No. 3 -cum-Judicial Magistrate, 1st Class Guwahati designated as Special Court for prosecution of offences under Income Tax Act MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) Notification No. 37/2018 New Delhi, the 8th August, 2018 S.O. 3942(E).—In exercise of the …
Chapter VI-A deduction allowable on disallowance u/s 40(a)(ia) for profits of the eligible business so enhanced by the disallowance- ITAT ABCAUS Case Law Citation: ABCAUS 2457 (2018) 08 ITAT The instant appeal was filed by the assessee challenging the order passed by CIT(A) confirming inter alia disallowance u/s …
