Failure of AO to apply/examine applicability of section 184(5) makes the assessment order erroneous and prejudicial to the interests of Revenue ABCAUS Case Law Citation:ABCAUS 3198 (2019) (12) ITAT Important case law relied upon by the parties:Mubarak Trading Co. v/s CIT, 174 Taxman 339Mas Properties & Developers v/s …

Reassessment u/s 148 due to credit card payment. ITAT directed AO to delete the addition made in view of returned income of the assessee ABCAUS Case Law Citation:ABCAUS 3197A (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in the …

CBDT promoted 113 Officers to the grade of Commissioner of Income Tax (CIT).  78 transfers have also been made in the grade of CIT including review, request and OSD cases. Also, 165 local changes in the grade of CIT has also been ordered. Read Promotion List Click Here …

RBI released Annual Report of the Ombudsman Schemes for the year 2018-19 – Read Highlights The Reserve Bank of India (RBI) released the Annual Report of the “Ombudsman Schemes of RBI for the year 2018-19” today. Banking Ombudsman Scheme The Banking Ombudsman Scheme (BOS) was notified by RBI in 1995 …

CBDT extends 157 adhoc appointment in the grade of Assistant Commissioner of Income Tax (ACIT) against the vacancy year 2014-15 CBDT extends 157 adhoc appointment in the grade of ACIT These adhoc appointments have been made subject to the condition that such appointments shall not confer any right …

Extension of last date of payment of December instalment of Advance Tax for FY 2019-20 in North Eastern States F.No.385/38/2019-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes***** North Block, New Delhithe 16th December, 2019 Order under Section 119(2) (a) of the Income-tax Act, 1961 – …