PMGKY Yojana 2016 Income tax Disclosure-Immunity Scheme with 50 % tax and lock in of 25% income. New penalty provisions introduced. PMGKY Scheme 2016 is applicable from 17-12-2016 Read Notification Click Here >> No 200% penalty if income is declared u/s 115BBE and tax+ surcharge is paid @ …

Business income or STCG-Frequency-repetition of sale purchase not conclusive. Factors like main business / profession of assessee, intention while purchasing shares, holding the same as investment, earning of dividend income thereon etc. are required to be seen -ITAT ABCAUS Case Law Citation: ABCAUS 1064 (2016) (11) ITAT Assessment …

Non-acceptance of IDS-2016 challan ITNS-286 by banks stating that Scheme has closed on 30.09.2016. CBDT lodges grievance of declarants with RBI. F. No.142/8/2016- TPL (Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** New Delhi, dated 10th November, 2016 …

Depreciation claim disallowed-defective machine not ready to use. Legal ownership not a must but the machine if not used, should at least be ready to use-ITAT ABCAUS Case Law Citation: 1063 (2016) (11) ITAT Assessment Year: 2009-10 Date of the Judgment: 16-11-2016 Brief Facts of the Case: The …

IDS-2016 Part-2 with 50 percent tax, lock in period for declared income with 0% interest. According to media, Govt may amend tax laws soon. On 28-11-2016 Finance Minister has introduced PMGKY 2016 Yojana to this effect Click Here to read more >>  Some section of media has reported that …

ITAT duty bound to grant relief even if no specific ground raised. Even without alternative submission, Tribunal must pass consequential orders suo motu. ABCAUS Case Law Citation: 1062 (2016) (11) HC Important Case Laws considered: CIBA of India Ltd vs. CIT (1993) 202 ITR 0001 (Bombay High Court) …