Abcaus

Procedure for e-communication and e-proceedings by Income Tax Department. Assessee can opt out of E-Proceeding. CBDT Notification 4/2017

administrator April 3, 2017 Income Tax

Procedure for e-communication and e-proceedings by Income Tax Department. Assessee can opt out of e-Proceeding. DGIT(S)/DIT(S)-3/ AST/Paperless Assessment Proceedings/96/2015-16 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No.4/2017 New Delhi, 3rd day of April,2017 Subject: Procedure, Formats and Standards …

Carry forward of loss for belated return with positive income not allowed. Section 80 not use word ‘return of loss’ – ITAT

administrator April 3, 2017 Income Tax, ITAT, Judgments

Carry forward of loss for belated return with positive income not allowed. Section 80 not use word ‘return of loss’, Section 139(3) talks of loss sustained under specific heads – ITAT ABCAUS Case Law Citation: ABCAUS 1197 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the …

Revised Date for applicability of Standards on Auditing. SA 700, SA 701, SA 705, SA 706 applicable for periods beginning on or after 01/04/2018

administrator April 3, 2017 ICAI

Revised Date for applicability of Standards on Auditing. SA 700, SA 701, SA 705, SA 706 applicable for periods beginning on or after 01/04/2018 ICAI IMPORTANT ANNOUNCEMENT Important Announcement on revised Effective Date/ Applicability of following Standards on Auditing – SA 700 (Revised), “Forming an Opinion and Reporting …

Option form 3CFA for taxation of income from patent us 115BBF CBDT Notification 25/2017

administrator April 3, 2017 Income Tax

Option form 3CFA for taxation of income from patent us 115BBF MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 25/2017 New Delhi, the 31st March, 2017 INCOME-TAX G.S.R. 318(E).—In exercise of the powers conferred by sub-section (3) of section 115BBF, read with section …

Fair rental value estimated by Income Tax Inspector disapproved by ITAT. FMRV ordered to be ascertained by applying % of cost

administrator April 2, 2017 Income Tax, ITAT, Judgments

Fair rental value estimated by Income Tax Inspector disapproved by ITAT. FMRV ordered to be ascertained u/s 23(4) by applying percentage of cost ABCAUS Case Law Citation: ABCAUS 1196 (2017) (04) ITAT The Grievance: The only issue raised by the assessee was against the confirmation of addition for …

Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for wrong DVO report – Allahabad High Court

administrator April 2, 2017 High Courts, Income Tax, Judgments

Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for assessment based on wrong DVO report – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1195 (2017) (04) HC Assessment Year : 2004-05 Date/Month of Pronouncement: March, 2017 Brief Facts …