Penalty u/s 271AAB-Cash advances recorded in diary held not undisclosed Income when assessee was not carrying on any business and declared the surrendered income in return  ABCAUS Case Law Citation: ABCAUS 2974 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: DCIT, Coimbatore Vs. R. Elanyovan …

Deduction u/s 80P(2) not allowed for unexplained income assessed u/s 68 of the Act. The addition u/s 68 did not increases income allowable for deduction u/s 80P ABCAUS Case Law Citation: ABCAUS 2973 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: A. Govindarajalu Mudaliar vs. …

Proof of address of individual prisoner in a jail – Amendment to PMLA Maintenance of Records Rules  MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th May, 2019 G.S.R. 381(E).—In exercise of the powers conferred by sub-section (1) read with clauses (i), (jjj) and (k) of …

Penalty u/s 271(1)(b) deleted when assessment was framed u/s 143(3) proving that the assessee had cooperated in the assessment proceedings ABCAUS Case Law Citation: ABCAUS 2972 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Pramila Kumari Vs DCIT (2011) 49 CCH 0401 In the instant …

RBI extends RTGS Timings for Customer Transactions from 4:30 pm to 6:00 pm from 1st June 2019 Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions As per RBI notification, timings for customer transactions (initial cut-off) in RTGS shall be extended from 4:30 pm …

Deduction u/s 54F for house purchased from father in law allowed when he was assessed to long term capital gain with reference to sold house ABCAUS Case Law Citation: ABCAUS 2971 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: In this appeal, the assessee had …