Category: Income Tax
When there is no other/separate source of income identified during the course of survey or during the course of assessment proceedings, any income arising to the assessee shall be treated to be out of the normal business of the assessee only ABCAUS Case Law Citation:ABCAUS 3788 (2023) (08) …
Exemption from TDS u/s 194I for payments of lease rents to units of ship leasing companies in IFSC CBDT has issued Notification No. 57 of 2023 dated 1st August 2023 providing exemption from TDS u/s 194I for payments of lease rents to units of ship leasing companies in …
CBDT notifies Form 3AF for furnishing details of Preliminary Expenditure u/s 35D. The Income-tax (Fourteenth Amendment) Rules, 2023. In the Income Tax Rules 1962, a new Rule 6ABBB has been added related to form of statement to be furnished regarding preliminary expenses incurred under section 35D. The rule …
Addition for cash payments made to builder for purchase of residential house – ITAT deletes addition for want of any clinching evidence ABCAUS Case Law Citation:ABCAUS 3787 (2023) (08) ITAT Important Case Laws relied upon:Dinesh Kumar Goyal vs. UOI & Others 453 ITR 535Laxmi Narain Agency vs. Income …
Only five days time allowed to reply questionnaire was not sufficient opportunity. ITAT deletes penalty u/s 272A(1)(d) of the Income Tax Act, 1961 ABCAUS Case Law Citation:ABCAUS 3786 (2023) (08) ITAT In the instant case, the assessee had challenged the order passed by the Commissioner of Income Tax …
Before notice to director for recovery u/s 179, Revenue must establish recovery cannot be made from Private Company – SC dismisses SLP ABCAUS Case Law Citation:ABCAUS 3785 (2023) (07) SC Important Case Laws relied upon:Vanraj V. Shah vrs. Dy. Commissioner of Income Tax and anotherUnion of India Vrs. …
Benefit of cash deposit up to 2.50 lacs for demonetisation period not available separately for household earnings of non taxpayer wife ABCAUS Case Law Citation:ABCAUS 3784 (2023) (07) ITAT In the instant case, the appeal was preferred by the assessee against the order passed by the passed by …
SOP for making application for recomputation u/s 155(19) of total income of a co-operative society engaged in the business of manufacture of sugar F. No. 370133 /8/2023-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (TPL Division) Circular No. 14 of 2023 …
ITAT gives telescoping benefit of business income declared when the assessee was only an entry operator and addition was made for commission income In a recent judgment , the Income Tax Appellate Tribunal has directed AO to give benefit of telescoping for the business income declared when the …
Condonation of delay for ITRs claiming deduction u/s 80P from AY 2018-19 to AY 2022-23 Circular No. 13/2023 F. No.173/21/2023-ITA-IGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi the 26th July, 2023 Sub:- Condonation of delay under clause (b) of sub-section (2) of section …
