Law Commission Submits Report on “Worngful Prosecution (Miscarriage of Justice): Legal Remedies” under existing laws and inadequacies as noted by the Delhi High Court  The Law Commission of India submitted its Report No.277 titled ‘Wrongful Prosecution (Miscarriage of Justice): Legal Remedies’ to the Government of India on 30th August, 2018. …

Payment for delayed allotment of plot by Housing Board not interest liable to TDS u/s 194A. Expression ‘interest’ was used merely for quantification of the liability – High Court ABCAUS Case Law Citation: ABCAUS 2499 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Viswapriya Financial …

JDA taxation-no capital gain when possession not handed over to builder and only right to enter the property given to demolish and re-construction ABCAUS Case Law Citation: ABCAUS 2498 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned order passed by CIT (Appeals) in …

Concealment penalty for change in method of stock valuation deleted by ITAT. Lower of Cost or market price method was as per ICAI guidelines and was consistently followed thereafter ABCAUS Case Law Citation: ABCAUS 2497 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned …

Further Extension of due date of 31.08.2018 for income tax return filing for more flood affected States is surely in the anvil but for the announcement.  Recently the CBDT extended due date for filing of Income Tax Returns for taxpayers in Kerala till 15th September, 2018. Earlier, it had earlier …

CBDT promotes 16 Officers to the grade of Principal Chief Commissioner of Income Tax CBDT has promoted 16 Officers to the grade of Principal Chief Commissioner of Income Tax (level 17 in the pay matrix Rs.2,25,000) w.e.f. the date of assumption of charge of the post or until …