Category: Income Tax

Deduction 80IB(7)(b) Rule 18BBC certificate by Regional Director instead Director General of Tourism valid as in Government Departments powers are delegated

Deduction 80IB(7)(b) Rule 18BBC certificate by Regional Director instead Director General of Tourism valid as in Government Departments powers are delegated

June 27, 2016 Income Tax, ITAT, Judgments
Deduction 80IB(7)(b) Rule 18BBC certificate by Regional Director instead Director General of  Tourism valid as in Government Departments powers are delegated. Since no Perform of the certificate has been prescribed in the Rules,  non mentioning of section 80IB(7(b) can not be a ground for disallowance – ITAT ABCAUS Case Law …
Facility to upload return u/s 119(2)(b), 92CD enabled

Facility to upload return u/s 119(2)(b) 92CD enabled for time barred delayed claim of exemption deduction or relief and modified return of income under APA

June 25, 2016 Income Tax
Facility to upload return u/s 119(2)(b) 92CD enabled for time barred delayed claim of exemption deduction or relief and modified return of income under APA Section 119 of the Income Tax Act, 1961 related to Instructions to subordinate authorities provides measures for the purose of efficient management of …
TCS us 206C1D applicable on cash component of payment only. In case of part payment in cash and part in cheque Threshold Limit apply on cash part only

TCS us 206C1D applicable on cash component of payment only. In case of part payment in cash and part in cheque Threshold Limit apply on cash part only

June 24, 2016 Income Tax
TCS us 206C1D applicable on cash component of payment only Circular No. 23/2016 F. No.370142/17 /2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi, dated the 24th June, 2016 Subject: Amendment in Section 206C of the Income-tax Act vide Finance …
Depreciation disallowed when entire asset block not put to use during the year. Claim that asset once entered block depreciation should be allowed dismissed

Depreciation disallowed when entire asset block not put to use during the year. Claim that asset once entered block depreciation should be allowed dismissed

June 23, 2016 Income Tax, ITAT, Judgments
Depreciation disallowed when entire asset block not put to use during the year. The Claim that asset once entered block, depreciation should be allowed dismissed by ITAT ABCAUS Case Law Citation: 958 2016 (06) ITAT Assessment Year: 2007-08 Date of Judgment/Order: June, 2016 Brief Facts of the Case: …
Disposal of Public Grievances on priority – Accountability for undue delays – CBDT. Officer to give explanations for grievances pending beyond 2 months

Disposal of Public Grievances on priority – Accountability for undue delays – CBDT. Officer to give explanations for grievances pending beyond 2 months

June 23, 2016 Income Tax
GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic.in Tele : 23092648 & Telefax : 23092544 ATULESH JINDAL Chairperson, CBDT & Special Secretary to the Govt. of India D.O. F. No. Dir.(Hqrs.)/Ch.(DT)/39(2)/2015 MOST IMMEDIATE Dated 22nd June, 2016 …
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted by ITAT. The penal provisions are to curb black money and benami transactions

Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted by ITAT. The penal provisions are to curb black money and benami transactions

June 23, 2016 Income Tax, ITAT, Judgments
Penalty 271E-Cash repayment of FDR by Bank for violation u/s 269T deleted The penal provisions are to curb black money and benami transactions and not  genuine ones – ITAT ABCAUS Case Law Citation: 957 2016 (06) ITAT Assessment Year: 2009-10 Date/Month of Judgment: June, 2016 Brief Facts of the Case: …
No additions us 68-accounts not maintained us 44AF presumptive taxation. The section operates only where books are maintained and sum is found credited

No additions us 68-accounts not maintained us 44AF presumptive taxation. The section operates only where books are maintained and sum is found credited

June 23, 2016 Income Tax, ITAT, Judgments
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and a sum is found credited therein – ITAT ABCAUS Case Law Citation: 956 2016 (06) ITAT Assessment Year: 2006-07 to 2010-11 Date/Month of Judgment/Order: June, 2016 Brief Facts …