Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT

Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT

December 31, 2016 Income Tax, ITAT, Judgments
Reassessment notice issued with sanction from JCIT was void as under proviso to sub-section (1) of section 151 sanction was required from CCIT/CIT ABCAUS Case Law Citation: ABCAUS 1092 (2016) (12) ITAT Assessment Year : 2006-07 Important Case Laws relied upon: CIT VS. SPL’s Siddhartha Ltd. (2012) 345 …
Appeal dismissed for illegible loose papers restored. The Appeal was dismissed by CIT-A for illegible papers filed without covering letter

Appeal dismissed for illegible loose papers restored. The Appeal was dismissed by CIT-A for illegible papers filed without covering letter

December 31, 2016 Income Tax, ITAT, Judgments
Appeal dismissed for illegible loose papers filed without covering letter restored by ITAT ABCAUS Case Law Citation: ABCAUS 1091 (2016) (12) ITAT Brief Facts of the Case: The original assessment was completed making additions on account of unproved share capital. First appeal of the assessee was allowed. In …
India Singapore Sign 3rd Protocol amending DTAA for source based taxation of share capital gains and transfer pricing cases-CBDT

India Singapore Sign 3rd Protocol amending DTAA for source based taxation of share capital gains and transfer pricing cases-CBDT

December 31, 2016 Income Tax
India Singapore Sign 3rd Protocol amending DTAA for  source based taxation of share capital gains and to facilitate relieving of economic double taxation in transfer pricing cases-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 30th December, 2016. Press Release …
Specified Bank Notes Cessation of Liabilities Ordinance 2016 passed. Penalty of higher of Rs. 10000 or five times for dealing in old notes (SBNs)

Specified Bank Notes Cessation of Liabilities Ordinance 2016 passed. Penalty of higher of Rs. 10000 or five times for dealing in old notes (SBNs)

December 30, 2016 Finance Ministry
Specified Bank Notes Cessation of Liabilities Ordinance 2016 passed. Penalty of higher of Rs. 10000 or five times for dealing in old notes (SBNs)  Ministry of Finance Dated: 31/12/2016 Press Release The President of India approves the Promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 …
Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into tax reduction-ITAT

Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into tax reduction-ITAT

December 30, 2016 Income Tax, ITAT, Judgments
Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into reduction of tax liability-ITAT ABCAUS Case Law Citation: ABCAUS 1090 (2016) (12) ITAT Important Case Laws relied upon: UOI vs. Azadi Bachao Andolan (2003) 263 ITR 706 (SC). …