Multiplier Grants Scheme Multiplier Grants Scheme is implemented by DeitY (i.e., the Department of Electronics and Information Technology). The Scheme, basically, aims to bridge the gap between research & development and commercialization. The current article covers the objectives of the Multiplier Grants Scheme; eligibility conditions under Multiplier Grants Scheme and procedures followed under Multiplier Grants […]
Office Order No. 75 of 2022 | The following transfer/postings of the officers in the grade of Chief Commissioners of Income Tax/ Director Generals of Income Tax, are hereby ordered with immediate effect and until further orders:-
F.No. A-22011/212022-Ad-VI (Pt.II) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi – 110 001 Dated: 16.04.2022 Office Order No. 74 of 2022 On promotion, the transfer/postings of the following officers in the grade of Pr. Chief Commissioner of Income Tax/ Pr. Director Generals of Income […]
Learn about the application process and time limits for registration under Sections 11 and 12AB for a Public Trust.
ACIT Vs Late Sh. Amarjeet singh (ITAT Delhi) Facts- The assessee is an individual and deriving income from property, share income as partner in M/s S.M. & Sons and M/s Santokh Singh & Sons and interest income. The assessee filed its return of income on 30.09.2011 declaring an income of Rs.19,27,700/-. Subsequently, the assessee revised […]
Kooud Software Pvt. Ltd. Vs DCIT (ITAT Bangalore) Facts- The assessee is a private limited company. AO has passed the orders u/s 200A(1) the Act levying late fee towards the delay in filing the TDS returns u/s 234(E) of the Act for the A.Y. 2013-14 & 2014-15. Conclusion- On the basis of the decision of […]
Goyal and Co Construction Pvt Ltd Vs C.S.T. Service Tax (CESTAT Ahmedabad) Facts- The appellant is engaged in providing Construction of Residential Complex & Construction of Commercial Complex Service and Real Estate Service. On the basis of information, an enquiry was initiated. Accordingly, revenue directed the appellant to produce documents/ details and information related to […]
It is well established that the reasons recorded by the AO cannot be further be substituted or added or deleted. We are of the view that the reference to market value of the flat as determined by stamp duty valuation authority also cannot justify initiation of reassessment proceedings under section 147 of the Act, as the validity of reassessment has to be tested only on the basis of reasons recorded by the Assessing Officer before issuing notice under section 148 of the Act and those reasons cannot be further improved.
Shri Ram Sharnam Sabha Regd. Vs ITO (ITAT Delhi) Facts- The assesse is a society, engaged in religious and charitable activities. This society is running Ashrams and Medication programmes and was duly granted registration u/s 12AA. The assessee filed its ITR for AY 2016-17 declaring a taxable income of Rs. Nil. The AO noticed that […]
Delhi High Court in the case of DDIT (E) vs Petroleum Sports Promotion Board (Supra) it is clear that in case of a charitable society even if benefit u/s 11 & 12 of the Income Tax Act, 1961 is denied and its income was brought to tax as income from other sources, all relevant expenditures were also to be allowed.
