Demonetised notes not unexplained money us 69A-No penalty 271(1)(c) for concealment warranted-High Court Judgment on 1978 Demnetisation The recent demonetisation of high denomination bank notes Rs. 500/- and Rs. 1000/- is not new to India. In past also there has been demonetisation of High Denomination Notes in 1946 …
Security deposit written off allowed as business loss us 37(1) even though rent security w/o in books was claimed wrongly as bad debts u/s 36-ITAT ABCAUS Case Law Citation: 1059 (2016) (11) ITAT A.Y : 2010-11 Important Case Laws considered: Fab India Overseas P. Ltd. vs. ACIT CIT …
No leakage of ICAI question paper-7 Direct Tax Laws of CA Final examination held on 13-11-2016. Institute refutes social media reports on alleged leakage ICAI Announcement 19th November 2016 No leakage of question paper relating to Paper 7, Direct Tax Laws of CA Final examination held on 13th …
Sikkim connection of Demonetisation Scheme Tax Evasion. No income tax payable by Sikkimese person u/s 10(26AAA) of Income Tax Act, 1961 Post demonetisation and withdrawal of old bank notes of the denomination of Rs. 500/- and 1000/- as reported, the Income Tax Department is all set to tighten …
Penalty us 221(1) on tax due as per revised return of income. It is not correct to levy penalty on the amount due as per original return of income-ITAT ABCAUS Case Law Citation: 1058 (2016) (11) ITAT Brief Facts of the Case: The assessee filed its original return …
CIT-A can decide appeal against CIT revision order us 263 when no direction given to make assessment in a particular way except to invoke Section 50C-ITAT ABCAUS Case Law Citation: 1057 (2016) (11) ITAT Brief Facts of the Case: The appellant assessee had filed his return of income …
