Disallowance made for foreign visit travel expenses, delegate fee and related expenses incurred for the spouses of the chartered accountant partners upheld by ITAT Mumbai. Case Law Details: ITA No. 5088/Mum/2014 Assessment Year : 2010-11 M/s. Sharp & Tannan vs. ACIT Date of Judgment/Order: 29/04/2016 Brief Facts of the Case: The …
Procedure and Instructions to e-File Form 15CA and 15CB CBDT vide its notification no. 93/2015 dated 16-12-2015 has revised the rule 37BB and form 15CA and Form 15CB. The revised rules and forms shall be effective from 1st April, 2016. Registration process for Filing Form 15CA To file …
Where High Court accepted substantial question of law u/s 260A, against the quantum appeal, itself shows that issue was debatable and in such a case no penalty was imposable u/s 271(1)(c) In a recent judgment, ITAT Delhi has stated that where High Court accepted substantial question of law u/s …
In a recent judgment, ITAT Delhi has set aside penalty u/s 271(1)(c) and remanded the matter to CIT(A) for mistake of assessee not disclosing Long Term Capital Gain LTCG on the land comprised in the block of Factory Building sold. Case Law Details: ITA No. 5939/Del./2013 : Asstt. Year : 2009-10 …
ITAT Lucknow in a recent judgment has held that section 69 of the Income Tax Act, 1961 provides that the assessee must have incurred any expenditure and the additions can not be made by the Assessing Officer by just estimated the expenditure. Case Law Details: ITA Nos.35,36 & 37/Lkw/2016 Assessment years: 2004-05, …
In a recent judgment, Supreme Court has upheld that special audit u/s 142(2A) was an integral step towards assessment proceedings and hence High Court was right in holding that period for which special audit was stayed shall be excluded in counting limitation for concluding block assessment u/s 158BE. Case Law …
