Income Tax

Hello world! 1 min read

• Income Tax

Hello world!

Deepak 10 years ago

Welcome to ThemeGrill Demo. This is your first post. Edit or delete it, then start blogging!... Read More

CBDT procedure for launching prosecution for TDS-TCS default 3 min read

• Income Tax

CBDT procedure for launching prosecution for TDS-TCS default

Manager 10 years ago

CBDT procedure for launching prosecution for TDS-TCS default Feb. 12 INCOME TAX ARTICLES, SERVICE TAX UPDATES, Tax Updates no comments The Central Board of Direct... Read More

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated 3 min read

• Income Tax

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated

Manager 10 years ago

The ITAT, Delhi in the case of Assistant Commissioner of Income Tax vs. Vijay Singh Kadan, Legal Heir of Late Shri Randhir Singh Kadan, 2014... Read More

Assessing Officer cannot be confined in assessing “undisclosed” income even in concluded assessments even if no material is found during search 2 min read

• Income Tax

Assessing Officer cannot be confined in assessing “undisclosed” income even in concluded assessments even if no material is found during search

Baisakhi Ganguly 10 years ago

The ITAT, Bangalore in the case of Ms. Nandini Delux vs. Asst. Commissioner of Income Tax, it was held that where no proceedings were pending... Read More

No deduction under section 54F if an assessee purchases any house except a new residential house within a one year after the date of transfer 2 min read

• Income Tax

No deduction under section 54F if an assessee purchases any house except a new residential house within a one year after the date of transfer

Baisakhi Ganguly 10 years ago

As per the provisions of section 45 of the Income Tax Act the profit arising out of the transfer of capital assets in the previous... Read More

An assessee’s method of accounting cannot be rejected merely because it gives him some advantage 2 min read

• Income Tax

An assessee’s method of accounting cannot be rejected merely because it gives him some advantage

Manager 10 years ago

The ITAT Ahmadabad in the case of Ms. Ambuja Oil Industries vs. the Income Tax Officer, 2014 (11) TMI 647, held that the regular method... Read More

Agricultural Land not considered as capital asset if situated outside municipal limits in absence of notification 3 min read

• Income Tax

Agricultural Land not considered as capital asset if situated outside municipal limits in absence of notification

Baisakhi Ganguly 10 years ago

The Karnataka High Court in the case of Commissioner of Income Tax vs. Shri Madhukumar N (HUF) (ITA 396 of 2009) has held that if... Read More

Any unnecessary remand by the ITAT cannot be allowed as it amounts to injustice 3 min read

• Income Tax

Any unnecessary remand by the ITAT cannot be allowed as it amounts to injustice

Baisakhi Ganguly 11 years ago

The Bombay High Court in the case of Coca¬ Cola India Pvt. Ltd. vs. The Assistant Registrar, The Income Tax Appellate Tribunal & Others, being... Read More

When can reopening of assessment be allowed? 4 min read

• Income Tax

When can reopening of assessment be allowed?

Baisakhi Ganguly 11 years ago

Section 147 of the Income Tax Act, 1961 allows reopening of assessment of income, in case the Assessing Officer believes that any income which is... Read More

Text of Request made to CBDT for DEFERMENT OF NEW AUDIT REPORT for ASSESSMENT YEAR 2015-16. 5 min read

• Income Tax

Text of Request made to CBDT for DEFERMENT OF NEW AUDIT REPORT for ASSESSMENT YEAR 2015-16.

Manager 11 years ago

As members of the Institute would be aware that CBDT has introduced new format for uploading Tax Audit Report for the Assessment Year 2014-15 relevant... Read More