Backward area declared u/s 80HH(2) do not apply to section 80-IA(2)(iv)(c) as both sections are separate and have independent provisions ABCAUS Case Law Citation:ABCAUS 3238 (2020) (01) HC Important case law relied upon by the parties:Ace multi axes systems limited’, (2017) 88 taxmann.com 69 (SC).Commissioner of Income Tax …
Institute of Pesticide Formulation Technology, Gurugram PAN:- AAATI0389Q approved u/s 35(1)(ii) as Research Association from AY 2019-2020 and onwards MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 07/2020 New Delhi, the 28th January, 2020 S.O. 389(E).—It is hereby notified for general information that the organization …
CBDT further amends Notification of Income Tax jurisdiction MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 5/2020 New Delhi, the 28th January, 2020 (Income-Tax) S.O. 388(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 …
Sales of entire year could not be estimated based on cash found during survey. By no means it could be considered as sale of day ABCAUS Case Law Citation:ABCAUS 3237 (2020) (01) ITAT In this case the appeal was filed at the behest of the assessee against the …
Reopening quashed as AO not recorded reasons of assesse’s failure to disclose material facts fully and truly but notice u/s 148 was issued on change of opinion ABCAUS Case Law Citation:ABCAUS 3236 (2020) (01) ITAT Important case law relied upon by the parties:Sadbhav Engineering Ltd. vs. DCITCIT Vs. …
Government puts in place measures to protect Commercial decision making by Banks The Finance Minister has repeatedly assured Bankers that adequate measures would be taken to protect honest commercial decisions taken by them and distinction would be made between genuine commercial failures and culpability.Every Bank was also required …