Category: Income Tax

Mere hiring of vehicle without any risk associated with the carriage of goods does not amount to carrying out any work or sub contract as defined u/s 194C(2) of the Income Tax Act, 1961 Case Details: TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM I.T.A.No.483/Vizag/2012  Assessment Year:2005-06 DCIT vs. Yekkala Subba …

ITAT Visakhapatnam in a recent judgment has ruled that Assessing Officer cannot sit in the chair of the businessman and direct him to do business in a particular fashion. The ITAT deleted the notional interest charged by AO on sundry debtors based on the fact that assessee charged interest for the …

In a recent judgment, ITAT Chennai has held that when the amendment was made in the . of the society it related back to the date of original establishment and hence the society was entitled for registration u/s 12AA with effect from its date of establishment. Case Details: INCOME …

In a recent judgment Chennai ITAT has upheld the addition made for notional house rent under the provisions of section 23 of the Income Tax Act, 1961, . It was held that: (a) When the assessee is the legal owner of the property; and (b) The property was …

Cancellation registration u/s 12AA of a charitable trust based on oral statement related to bogus donation entries without any evidence giving opportunity to cross-examine the witness quashed by ITAT Case Details: INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.792/LKW/2015 Assessment Year:2011-12 M/s Fateh Chand Charitable Trust …

Step-wise Procedures and Guide for e-filing of Form 15G 15H  Step-wise Procedures and Guide for e-filing of Form 15G 15H in electronic form by the deductors to the office of the income tax CBDT vide notification No. 76/2015 dated 29/09/2015 provided for the electronic filing of form 15G …

The deduction claimed for a  pay/wage revision is an ascertained liability and cannot be termed as contingent because the wage and probable revision or rates of revision would be within the fair estimation of the employer. Case Law Details: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘B’ NEW DELHI I.T.A …

Reassessment proceedings cannot be resorted to only to examine the facts of a case, no matter how desirable that be unless there is a reason to believe, rather than suspect, that an income has escaped assessment.  Case Details: Income Tax Appellate Tribunal, New Delhi ITA No.3052/Del./2013 (AY:2004-05) M/s. Excellent …

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 18/2016 New Delhi, the 17th March, 2016 S.O. 1146 (E).- In exercise of the powers conferred by section 2, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the …

Revenue Audit Objections-Remedial Action and Appeal Circular No.  8/2016 F.No.246/95/2013-A&PAC-IGovernment of IndiaMinistry of Finance Department of RevenueCentral Board of Direct Taxes****** New Delhi, 11th March, 2016 Subject:- Modification of Instruction 9/2006 – reg. Instruction 9 of 2006 lays down the guidelines and procedure for attending to Revenue Audit …