No Penalty 271(1)(c) even if quantum proceedings upheld additions. Merely because a bona fide explanation did not find favour, it would not justify the levy of concealment penalty-ITAT ABCAUS Case Law Citation: 1034 (2016) (10) ITAT Brief Facts of the Case: A search operation u/s 132 of the Income Tax Act, …
Insolvency and Bankruptcy Code 2016-ICAI Request to give suggestions on the Draft Rules and Regulations as issued by the Ministry of Corporate Affairs. he Ministry of Corporate Affairs as part of the process of implementing Insolvency and Bankruptcy Code, 2016 (Code) had set up a Working Group consisting …
IDS 2016 Clarification Instruction No. 11 of 2016 F.No.142/8/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *** New Delhi, the 13th October, 2016 To, All Principal Chief Commissioners of Income-tax Sub.: The Income Declaration Scheme, 2016 – reg. Representations have been …
Applicability of TDS us 194-I to lump sum lease premium paid for acquisition of long term lease Circular No. 35 /2016 F. No. 275/29/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 13th October, 2016 Subject: Applicability of …
Income Tax Department vindictively disallowed agricultural income claim of Jayalalithaa. Sasikala also gets relief from ITAT ABCAUS Case Law Citation: 1033 (2016) (10) ITAT Brief Facts of the Case(s): In both the cases, among other thing, the claim of agricultural income was disallowed by the Assessing Officer (AO) …
No income concealment us 271(1(c) on gift under explanation 5A. NSC declared us 153A was received as inheriting, gift from father, grandfather-ITAT ABCAUS Case Law Citation: 1032 (2016) (10) ITAT Important case law cited: Sheraton Apparels Vs. ACIT (2002) 256 ITR 20 Brief Facts of the Case: The …
