Category: Income Tax
Fresh tangible material not required to reopen an assessment where the initially the return of income is processed u/s 143(1) and an intimation is sent to the assessee, the reopening of such assessment requires the AO to form reasons to believe that income has escaped assessment, but such reasons do …
CBDT Instruction 1916 dated 11-05-1994 cbdt-instruction-1916 Jewellery relief is applicable to additions also. This is held by ITAT Delhi taking the pre-dominant view of various High Courts ABCAUS Case Law Citation: 932 2016 (05) ITAT Assessment Year : 2010-11 Brief Facts of the Case: The assessee was subjected …
Jewellery found in daughter-in-law’s bedroom locker of at the time of search u/s 132 can not be added to the assessee’s income when she was having a seperate source of income- ITAT Delhi Case Law Details: ITA No.3763 and 3757/Del/2012 Assessment Year : 2010-11 S.C. Verma vs. ACIT/ACIT vs S.C. Verma Date …
When the assessee claimed exemption on the principle of mutuality in the return of income and the AO also made detailed inquiries on the issue of principle of mutuality and passed the order u/s. 143(3), the revision u/s 263 was bad in Law-ITAT Delhi
Reopening us 147 based on merely tax evasion petition itself bad in law as the AO had not satisfied himself before initiating the proceedings that income of the assessee has escaped assessment. ITAT Delhi Case Details: ITA No.1894/Del./2012 Assessment Year : 2002-03 Ashok Arora vs. ITO Date of Order/Judgment: …
The Income Declaration Scheme 2016-Important Dates for Compliances GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19th May, 2016 NOTIFICATION No. 32/2016 S.O. 1830(E)– In exercise of the powers conferred by section 183, section 187 and section 190 of the Finance Act, 2016 (28 …
The Income Declaration Scheme Rules 2016 Notification GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 19th May, 2016 S.O. 1831(E)- In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 of the Finance Act, 2016 (28 of 2016), the …
The Income Declaration Scheme 2016-Explanatory Notes. Scope, Rate, Time Limits, Form of Declaration, Ineligible/invalid Declaration Circular No. 16 of 2016 F.No.370142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated: 20th May, 2016 EXPLANATORY NOTES ON PROVISIONS OF THE …
Printing-publishing eligible for additional depreciation u/s 32(1)(iia) in view of Kerala and Delhi High Court Judgments Circular No. 15/2016 F No. 279/Misc/140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th May, 2016 Subject: Additional Depreciation u /s 32(1)(iia) of …
efiling form 60-mandatory fields relaxation Circular No. 14 /2016 F.No.370149/68/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th May, 2016 Subject: Digital reporting of Form No.60-reg. 1. Vide Notification No.95, dated 30th December, 2015, rules 114B, 114C and 114D …
