It was held by Kerala High Court in the case of Classic Concepts Home India Private Limited V/s. CIT that, penalty U/s 271C is exigible if delay in remittance of TDS is caused due to unreasonable cause.
Calcutta High Court held In the case of Duncan International Ltd. vs. CIT that Section 36 (2) (iii) allowed the assessee to claim the deduction on account of bad debts in subsequent years even if bad debts have written off in earlier years and which were not allowed.
Calcutta High Court held In the case of CIT vs. Mahesh Chandra Mantri that It is apparent from the language of the Section 2(22) (e) that before any payment can take the character of dividend within the meaning of the aforesaid provision it has to be shown that there were accumulated profits lying
In the case of M/s Bhagwati Motors Vs. ITO Chandigarh bench of ITAT have held that Assessee merely acted as a conduit without any right in money, therefore, no addition under section 69A of the Act could be made against the assessee.
Every company shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood on the close of the financial year. If Financial of Company started before 01.04.2014 then Annual Statement will file in e-form 23AC, 23ACA for this financial year instead of AOC-4.
Notification No. 220/2015 – Income Tax Dated- 16th October, 2015 S.O. 2854(E).-In exercise of the powers conferred by sub-section (I) read with clause (b) of the Explanation to Section 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of the National Committee for Promotion of Social and Economic Welfare,
