System error showing agricultural income in return to AO. Addition made deleted by the ITAT as in the ITR downloaded such income was NIL ABCAUS Case Law Citation: ABCAUS 1158 (2017) (03) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee filed her return …
Two recognised Insolvency Professional Entities IPEs under the Insolvency and Bankruptcy Code 2016 Ministry of Corporate Affairs Press Release Dated: 6th March, 2017 The Insolvency and Bankruptcy Board of India (IBBI) recognises two Insolvency Professional Entities (IPEs) under the Insolvency and Bankruptcy Code, 2016 (Code) The Code offers …
Prosecution under Customs Act-Revised Guidelines for launching prosecution for offences punishable under Customs Act 1962. Circular No. 07/2017 – Customs F. No. 394/68/2013-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) *** New Delhi, the 6th March, 2017 …
Gross Profit rate can not be same each year. AO could not step into the shoes of businessman to determine sale price. Addition made for low GP deleted by ITAT ABCAUS Case Law Citation: ABCAUS 1157 (2017) (03) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: March-2017 Important …
Non-furnishing reopening reasons despite request vitiates the reopening of assessment. Order passed u/s 148 quashed and declared illegal by ITAT ABCAUS Case Law Citation: ABCAUS 1156 (2017) (03) ITAT Question for determination: Whether non-furnishing of the reasons for reopening, after the specific request for the same is made …
Assessment in individual status bad when notice issued to HUF Assessment set aside when notice u/s 148 was issued in the name of HUF-ITAT ABCAUS Case Law Citation: ABCAUS 1155 (2017) (03) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: March-2017 Important Case Laws Cited/relied upon: Suraj Mal, …
