Indirect expenses can never be in proportion to sale. There was no reason to ask justification to explain variation in expenses for the fluctuation in sales and make addition of projected expenses on the basis of increase in sale. Â This was held by ITAT, Chandigarh while quashing additions …
Engagement of Research Associates/Professionals in the Competition Commission of India on contract basis. COMPETITION COMMISSION OF INDIA Hindustan Times House, 3rd, 4th & 7th Floor, 18-20, Kasturba Gandhi Marg, New Delhi – 110 001 Tel: +91-11-23473600 Fax: +91-11-23704686 F. No. A-12015/01/2016- HR       …
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. 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 …
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 …
