According to section 143(2) of the Income Tax Act, 1961(for short the Act), where a return has been furnished under section 139 of the Act, or in response to a notice under section 142(1) of the Act, the Assessing Officer(AO) or the prescribed income-tax authority, as the case may be, if, considers it necessary or expedient to ensure that the assessee has not understated the income
In the present case there was no illegality committed by the Department in not issuing to the Assessee a notice under Section 226 (3) (iii) of the Act simultaneously with or prior to the notice issued to its bank under Section 226 (3) (i) of the Act for recovery of the tax demand from its account.
An addition cannot be made on the basis of a handwritten loose paper which does not indicate if it pertains to the assessee and if AO has not brought on record any forensic evidence to prove the handwriting of the assessee. An addition cannot be made on the basis of suspicion and guesswork and without bringing corroborative material on record
BDT has approved setting up of ASKs in your jurisdiction in the following two Income Tax office buildings/ locations:- (i) 3, GP(West), Kolkata (ii) Asansol
The quantity of raw sugar i.e. 8424 MTs (Eight thousand four hundred and twenty four metric tons) to be exported to USA under TRQ up to 30.09.2018 has been notified.
In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy, 2015-2020, the Director General of Foreign Trade hereby notifies the amendment in item No. 1 of the SION E 8, in the Handbook of Procedure Vol.11 as under:
Seeks to amend Notification No. 96/2008-Customs dated 13th August 2008 to insert S. No. 35-Republic of Niger and S. No. 36 -Republic of Guinea in the Schedule to the notification. MINISTRY OF FINANCE (Department of Revenue) Notification No. 68/2017-Customs New Delhi, the 27th July, 2017 G.S.R. 962(E).—In exercise of the powers conferred by sub-section (1) […]
Attention of all the importers, Exporters, Customs Brokers, and other stake holders is invited to the issue of Permission for bringing goods meant for export by import/domestic freight containers.
In order to further streamline the operations at IFSC, based on the internal discussions and consultations held with the stakeholders, it has been decided to amend provisions of the aforesaid guidelines, which are as follows
It may be recalled that the Board is pursuing the withdrawal of appeals as per the revised monetary limits and on the basis of Hon’ble Supreme Courts decision on the identical matters in the High Courts & CESTAT.
