Income Tax

CBDT aims to supervise orders of revision passed by the CIT under section 264 3 min read

• Income Tax

CBDT aims to supervise orders of revision passed by the CIT under section 264

9 years ago

CBDT has passed an order on 16.05.2014 being no.11of 2014 (F.NO.279/MISC, /M-115/2013-ITJ) stating that it shall supervise the revision orders passed by the CIT under... Read More

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed 6 min read

• Income Tax

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed

9 years ago

The Bombay High Court in the case of CIT Vs. S. M. Construction, Income Tax Appeal No. 412 of 2013, by a judgment dated 03.03.2015... Read More

Process of availing immunity of TDS default u/s 201 of the IT Act 3 min read

• Income Tax

Process of availing immunity of TDS default u/s 201 of the IT Act

9 years ago

There is an increase of Defaulting in TDS submissions. And so there is an increase in applications for immunity from accountants. In the cases in... Read More

A summary on Section 234E of the Income Tax Act 2 min read

• Income Tax

A summary on Section 234E of the Income Tax Act

9 years ago

The constitutional validity of Section 234E has been challenged by the different High courts in the cases appearing before them. Fee for default in furnishing... Read More

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

9 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

When can reopening of assessment be allowed? 4 min read

• Income Tax

When can reopening of assessment be allowed?

9 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

Definition Of Service As Per Service Tax Act 2 min read

• Income Tax

Definition Of Service As Per Service Tax Act

9 years ago

Definition Of Service As Per Service Tax Act Service as per Service Tax is described as the action that is taken for consideration and is... Read More

ITAT Delhi explains the scope of proviso to section 2(15) relating to deduction for charitable institutions 5 min read

• Income Tax

ITAT Delhi explains the scope of proviso to section 2(15) relating to deduction for charitable institutions

9 years ago

The ITAT Delhi in the case of Association of State Road Transport vs. CIT – V, Astru Bhawan, Plot No. 4A, PSP Block, Pocket-14, Sector-8,... Read More

All about income tax scrutiny 3 min read

• Income Tax

All about income tax scrutiny

9 years ago

It is practically not possible for the Income Tax Department to make regular assessment of all the returns filed before them in any assessment year.... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

9 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