promotion of the IRS officer to join commissioner of income tax !!
F. No. A-32012/2/2015-AD.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New…
IT Judgement
Taxability of subsidy !!
Taxability of subsidy CIT vs. Chaphalkar Brothers Pune (Supreme Court). Taxability of subsidies: A subsidy granted by the Govt to…
Hold the breath: Delhi HC admits plea against section 43CA
Admits Builder’s challenge on vires of stamp duty value based taxation u/s. 43CA* Delhi HC admits Ansal Housing & Construction…
Revisionary power of commissioner
Hitech Analytical Services v. Pr. CIT Decision: Case remanded. Revision under section 264–Firm’s expenses claimed in individual return– Filed revised computation for…
Clarification on GSTR-1
GSTR Clarification from The taxpayers whose aggregate turnover during preceding financial year exceeded Rs. 1.5 Cr or the new registrants…
Income tax survey to identify Bitcoin investor!!
Bitcoin I-T Dept conducts surveys at Bitcoin exchanges country-wide The Income Tax Department conducted survey operations at major Bitcoin exchanges.…
Tax benefit: Amendment to 40(a)(ia) have retrospective application
DEPUTY COMMISSIONER OF INCOME TAX VS. SARAF SERVICES (P) LTD. ITAT, KOLKATA ‘D’ BENCH Business expenditure—Disallowance under s. 40(a)(ia)—Retrospective applicability…
Power to transfer the case
power to transfer case: Where assessee’s case was transferred from one place to another in same city after an agreement…
Taxation of alimony received after Divorce
Prema G. Sanghvi v. ITO Decision: In assessee’s favour. Income from other sources– Receipt of alimony from ex-husband Facts: Assessee received an…
Applicability of time limit u/s 153(2A)
section 153(2A) Nokia India (P) Ltd. v. Dy. CIT Decision: In assessee’s favour. Assessment–Applicability of time-limit under section 153(2A) — Proceedings remanded…
Clarification on reservation rumor by ICAI
ICAI CLARIFICATION ON RESERVATION IN CA ANNOUNCEMENT The Institute has come across certain messages that are being aired in social…
S. 68 Bogus share capital:
In Pragati Financial Management Pvt. Ltd vs. CIT and Rajmandir Estates Private Limited vs. Pr. CIT 386 ITR 162 (Cal) the Calcutta High Court…
Recent Judgement
In favour of: Assessee Addition could not be made merely on basis of difference in closing stock based on stock…
Taxation of F & O transactions
Taxation of F & O transactions Query 1] I am trading in equities; both delivery as well as non delivery…
Interest on Saving Bank account up to Rs. 10,000/- is eligible for deduction u/s 80TTA
section 80TTA Query 1] During payment of income tax by challan on 29th March 2017, state bank asked me to change year A.Y.…
KUDOS TO CBDT FOR EXPEDITING INCOME TAX REFUND
kudos cbdt Query 1] I have a query about advance tax. During the financial year 2013-14, second installment of tax…
