Income Tax

Impacts of Non-issuance of TDS certificate within time 2 min read

• Income Tax

Impacts of Non-issuance of TDS certificate within time

Baisakhi Ganguly 9 years ago

There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More

CBDT Instruction regarding Compulsory Manual Selection of Cases for Scrutiny during FY 2015-2016 5 min read

• Income Tax

CBDT Instruction regarding Compulsory Manual Selection of Cases for Scrutiny during FY 2015-2016

Manager 9 years ago

The CBDT (Central Board of Direct Taxes) has issued the above Instruction on August 31, 2015 to lay the parameters for compulsory manual selection of... Read More

Is “mens rea” an essential factor for levy of penalty? 4 min read

• Income Tax

Is “mens rea” an essential factor for levy of penalty?

Baisakhi Ganguly 9 years ago

The debate as to whether “mens rea” is an essential ingredient for levy of penalty has been never ending. It is a common issue as... Read More

Adjustment of refund due is discretionary power of the assessing officer 6 min read

• Income Tax

Adjustment of refund due is discretionary power of the assessing officer

Baisakhi Ganguly 10 years ago

The Bombay High Court in the case of Hindustan Unilever Limited vs. Deputy Commissioner of Income Tax-1 (1) and Others, 2015 (7) TMI 366, has... Read More

All about Compounding of offences under the Income Tax Act, 1961 5 min read

• Income Tax

All about Compounding of offences under the Income Tax Act, 1961

Baisakhi Ganguly 10 years ago

Meaning of the term “compounding of offences”: Compoundable offences are those offences that can be conciliated by the parties between themselves. The permission of the... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

Manager 10 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Can one raise a claim before the appellate authorities which has not been raised before the AO? 3 min read

• Income Tax

Can one raise a claim before the appellate authorities which has not been raised before the AO?

Manager 10 years ago

The Income Tax Appellate Tribunal, Bangalore in Sri Lakhan Singh vs. Asst. Commissioner of income Tax (ITA No.1025/Bang/2011) has held that the claim of the... Read More

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act 14 min read

• Income Tax

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act

Manager 10 years ago

Income Tax – Section 54F. – Whether in the absence of completion and possession by way of registration and transfer of its title of flats... Read More

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain 6 min read

• Income Tax

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain

Baisakhi Ganguly 10 years ago

One of the most fashionable trends of business in the present day world is a transfer through slump sale. This kind of deals falls under... Read More

Assessing Officer should not show undue hurry in completing an assessment 3 min read

• Income Tax

Assessing Officer should not show undue hurry in completing an assessment

Baisakhi Ganguly 10 years ago

The Bench of the High Court at Ahmadabad consisting of Hon’ble Justice Mr. Akil Qureshi and Hon’ble Justice Ms. Sonia Gokani has passed a judgment... Read More