Land sold by plotting held to be business income not capital gain as the sale was completed within a short period of few months and space was left for streets. In a recent judgment, this was upheld by ITAT Amritsar. Case Law Details: I.T.A No.478(Asr)/2014 Assessment Year: 2010-11 …
Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities. Case Law Details: ITA No.85/Lkw/2016 Block Period ending on 14/09/2002 Dr. Harnam Singh vs. ACIT Date of Judgment: 27/05/2016 Brief Facts of the Case: During …
F No 370149/89/2016-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) Dated: the 27th May, 2016 PRESS RELEASE Subject: Implementation of General Anti Avoidance Rule Provisions-Issuance of Guidance Note-Comments of the Stakeholders-reg. The provisions of General Anti Avoidance Rule (GAAR) are contained …
No Mandatory 12AA registration cancellation for business/trade turnover limit cut-off as per proviso u/s 2(15) if no change in nature of activities Circular No. 21/2016 F No. 197/17/2016-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 27th May, 2016 …
Clarifications for implementation of FATCA and CRS F.No. 504/632/12015-FT&TR-III(1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax & Tax Research Division) Dated 26th May, 2016 Subiect: Clarifications for implementation of FATCA and CRS-reg Pursuant to the consultations held with Financial …
Disclosure of Audit Qualifications Impact by Listed Entities Securities and Exchange Board of India CIRCULAR CIR/CFD/CMD/56/2016 …