Income Tax : Decoding recent Income Tax Notices on alleged bogus donations and cash deposits. Understand the implications, response options, an...
Income Tax : Unravel the intricacies of Income Tax Department scrutiny with insights into notices, reasons triggering scrutiny, and types of sc...
Income Tax : CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23 also procedure for compulsor...
Income Tax : CAG (Comptroller and Auditor General of India) has prepared a report on Assessments Relating to Agriculture Income which was prese...
Income Tax : Check List for Scrutiny of Books for Tax Audit Purpose For Assessment Year 2021-2022 Step 1: Check and Verify the opening Balances...
Income Tax : Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers’ grievances due to high-pitched ...
Income Tax : Ministry of Finance Income Tax Returns( ITR) scrutiny reduced to 0.25% in AY 2018-19 IT Dept is changing -from just enforcement ...
Income Tax : Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share prem...
Income Tax : Income Tax Department has accepted 99.65 per cent of tax returns as it is and has picked only 0.35 per cent cases for detailed scr...
Income Tax : In respect of Income Tax department, the persons are liable for taxation on income/transaction originated/attributed to India irre...
Income Tax : ITAT Kolkata held that enquiring on issues other than limited scrutiny issue, before conversion of limited scrutiny to complete sc...
Income Tax : CBDT undisputedly are binding on the department and any action in violation thereof renders it as untenable in law, consequently i...
Income Tax : CBDT had issued guidelines dated 10th September, 2011 mandating prior approval of the CCIT for scrutiny assessment and in the pres...
Income Tax : AO get jurisdiction over return of income only upon service of section 143(2) notice, meaning thereby so AO cannot scrutinize retu...
Income Tax : Kintukumar Ambalal Patel Vs DCIT (ITAT Ahmedabad) The issue raised by the assessee in additional ground is that the learned CIT-...
Income Tax : Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the proced...
Income Tax : Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of i...
Income Tax : Amendment in Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23 — procedure ...
Income Tax : F.No.225/ 81/2022/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II divis...
Income Tax : CBDT Issues Guidelines for compulsory selection of Income Tax returns for Complete Scrutiny during the Financial Year 2022-23 and ...
Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the procedure and clarification here.
Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of income tax returns for complete scrutiny during the financial year 2023-24. The guidelines specify various scenarios, including cases related to surveys, search and seizure actions, non-filing of returns, addition in earlier assessment years, and specific information on […]
Decoding recent Income Tax Notices on alleged bogus donations and cash deposits. Understand the implications, response options, and consequences.
ITAT Kolkata held that enquiring on issues other than limited scrutiny issue, before conversion of limited scrutiny to complete scrutiny, is against the procedure laid down in Instruction No. 5/2016 of CBDT dated 14.07.2016. Accordingly, assessment order is quashed as nullity and bad-in-law.
CBDT undisputedly are binding on the department and any action in violation thereof renders it as untenable in law, consequently in the extant case, assessment been carried out in violation of instruction issued by CBDT deserves to be quashed, ergo we set-aside the first appellate order passed u/s 250 and quash the order of assessment passed u/s 143(3) of the Act as bad in law.
CBDT had issued guidelines dated 10th September, 2011 mandating prior approval of the CCIT for scrutiny assessment and in the present case that was not obtained.
Amendment in Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23 — procedure for compulsory selection in such cases
Unravel the intricacies of Income Tax Department scrutiny with insights into notices, reasons triggering scrutiny, and types of scrutiny assessments. Understand the procedures to navigate through this process, ensuring compliance and avoiding penalties. Stay informed on the consequences of non-compliance with income tax notices.
AO get jurisdiction over return of income only upon service of section 143(2) notice, meaning thereby so AO cannot scrutinize return of income
CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23 also procedure for compulsory selection has also been provided in guidelines provided by CBDT.
