Appeal

CIT Appeals order passed ex parte without giving another opportunity or mentioning reasons for additions sustained is bad

March 12, 2016 Income Tax, ITAT, Judgments
CIT Appeals order passed ex parte without giving another opportunity or mentioning reasons for additions sustained is bad INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA ITA No. 766/Kol/2013 : Asstt. Year : 2009-2010 Asish Ranjan Chowdhury (APPELLANT)  vs. I.T.O. (RESPONDENT) Date of Order: 11/03/2016 ORDER Per Shri S.S.Viswanethra Ravi, J.M. …
cbdt instruction

CBDT Revised Guidelines for Implementation of Transfer Pricing Provisions Instruction No. 03/2016

March 11, 2016 Income Tax
CBDT Revised Guidelines for Implementation of Transfer Pricing Provisions Instruction No. 03/2016 Instruction No. 3/2016 F. No. 500/9/2015-APA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesForeign Tax and Tax Research Division-IAPA-II Section New Delhi, dated 10th March, 2016 Subject:  Guidelines for Implementation of Transfer Pricing Provisions-Replacement …
cbdt

Verification of Genuineness of Agricultural Income of more than Rs. 1 crores shown in ITR filed for AY 2007-08 to 2015-16

March 11, 2016 Income Tax, Instructions
Verification of Genuineness of Agricultural Income of more than Rs. 1 crores shown in the Income Tax Return filed by the assesses for AY 2007-08 to 2015-16 Central Board of Direct TaxesF. No. DGIT(S)/DIT(S)-3/AST/PIL/2015-16 Dated: 10/03/2016 Verification of Genuineness of Agricultural Income shown in the Income Tax Return …
CIT revision

CIT Revision u/s 263 unjustified that income surrendered u/s 133A to be taxed separately u/s 69A not as business income

March 11, 2016 Income Tax, ITAT, Judgments
CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s 69A INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 203(Asr)/2014 Assessment Year: 2009-10 M/s Superfine Agro Industries (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 10/03/2016 ORDER PER T. …
Assessment

Revision u/s 263 not justified in case of best judgment assessment u/s 144 for non co-operation by assessee

March 11, 2016 Income Tax, ITAT, Judgments
Revision u/s 263 not justified in case of best judgment assessment u/s 144 for non co-operation by assessee INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 220(Asr)/2015 Assessment Year: 2010-11 M/s Sutlej Wine Enterprises (Appellant) vs. PrCIT (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): …