Tag: incometax

Selection of scrutiny for the cases selected manually on the basis of recommendations of CPC for AY 2013-14 AST- Instruction No. 141 DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2,Jhandewalan Extension, New Delhi-110055 F.No. DGIT(S)/ADG(S)-2/CASS/2014-15                          …

In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) is an allowable business expenditure. Case Details: I.T.A No. 20(Asr)/2013 Assessment Year: 2007-08 Freewill Sports Pvt. Ltd vs. ACIT Date of Order/Judgment: 22/03/2016 Brief Facts of the Case: The only issue involved in this appeal …

ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal handling charges, Bunker adjustment factor, Cost adjustment factor, etc) using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995 Case Details: ITA No.257(Asr)/2014 Assessment year:2006-07 PMS …