Category: Income Tax
Reopening assessment us 147/148 for verification of details illegal The Assessing Officer merely sought to reopen the assessment for verification of the details, which is not contemplated under section 147 of the Act. This was held by ITAT in a recent judgment. ABCAUS Case Law Citation: 939 2016 …
Google notice-Publishers to deposit 6 Percent Equalisation Levy Hello, This is to inform you that as per the Notification No. 37/ 2016: F.No. 370142/12/2016-TPL dated 27 May 2016 read with Finance Act, 2016, Government of India has levied an ‘Equalisation Levy’ on provision of online advertisement services or any …
Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares. This was held in a recent judgment by ITAT placing reliance on two High Court’s verdicts. ABCAUS Case Law Citation: 938 2016 (06) ITAT Date of Judgment: June, 2016 Brief Facts of the …
Due dates for e-filing form 15G 15H F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi. Notification No 9/2016 Dated: 09th June, 2016 Subject: Simplification of procedure for Form No. 15G & 15H –Clarifications -reg The existing provisions …
In a recent judgment, ITAT has held that the sale of shares by the assessee was not business income but short term capital gain in view of the over all facts and in particular as per CBDT lates circular in this regard. ABCAUS Case Law Citation: 937 2016 …
FAQ-TCS us 206C on Sale of Motor Vehicles CBDT Circular 22/2016. Clarifications regarding applicability of Amendment made by Finance Act 2016 Circular No 22/ 2016 F.No 370142/ 17/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated 8th, June …
Transfer-Postings in the grade of DCsIT-ACsIT UP-East Office of the Pr. Chief Commissioner of Income Tax, U.P. (East) AAYKAR Bhawan, 5 Ashok Marg, Lucknow Order No. 14 of 2016 dated 07-06-2016
Transfer-Postings in the grade of Addl-Jt CsIT UP-East Office of the Pr. Chief Commissioner of Income Tax, U.P. (East) AAYKAR Bhawan, 5 Ashok Marg, Lucknow Order No. 13 of 2016 dated 07-06-2016
Income cannot be estimated without rejection of books of account. ITAT quashed revision order passed u/s 263 enhancing net profit rate. ABCAUS Case Law Citation: 936 2016 (06) ITAT Brief Facts of the Case: The present appeal was filed by the assessee against the order passed u/s 263 …
No Penalty us 2711c for additions made on DVO report basis as the DVO report is just an opinion or estimate. The mere fact that the assessee had not agitated additions made in the appellate proceedings does not militate against the assessee in the penalty proceedings. This was …
