Patel Infrastructure Pvt. Ltd. Vs DCIT (ITAT Rajkot) The issue under consideration is whether contractors performing the work in the nature of a developer-cum-contractor are eligible to claim deduction u/s 80-IA(4) of the Income Tax Act, 1961? ITAT states that even after the amendment by the Finance Act, 2007 and the Finance Act, 2009, the […]
The issue under consideration is whether for assessee engaged in providing accommodation entries only commission amount to be added on estimation basis or entire amount of accommodation entry to be added?
If the Revenue has any grievance against the order of the Tribunal, the Revenue can go before the High Court by filing appeal u/s 260A. The Tribunal cannot recall its own order in the garb of power vested u/s 254(2) of the Act.
Section 80TTA has been introduced from this Financial Year [2012-13] and it allows to an employee from his gross total income if it includes any income by way of interest on deposits (not being time deposits) in a savings account a deduction amounting to : (i) in a case where the amount of such income does not exceed in the aggregate ten thousand rupees, the whole of such amount; and (ii) in any other case, ten thousand rupees.
Request for extension of time for filing Amnesty 2020 Application under various Act and request to drop penal action on notices issued under GST Act and Rules for the year 2017- 18 and 2019-20 and stop fresh notice up to 31-12-2020. Association of Tax Practitioners State Committee, Reg. No: ER.38/87 Devi Nivas, Varghese Thittel Road, […]
In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due date for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020,vide Notification No. 56/2020-Income Tax dated 29th July, 2020. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL […]
MHA issues Unlock 3 Guidelines, opens up more activities outside Containment Zones, Strict enforcement of lockdown in Containment Zones till 31st August 2020. New MHA guidelines Ministry of Home Affairs (MHA) issued new guidelines today, for opening up of more activities in areas outside the Containment Zones. In Unlock 3, which will come into effect […]
Cabinet Approves National Education Policy 2020 (NEP, 2020) paving way for transformational reforms in school and higher education systems in the country The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the National Education Policy 2020 today, making way for large scale, transformational reforms in both school and higher education sectors. The […]
The issue under consideration is whether the AO is justified in making addition u/s 68 towards alleged unexplained deposit in the bank account in as much as a bank account is not a book of account maintained by the appellant?
Whether the public interest litigation (PIL) challenging non-inclusion of advocates in the definition of the word ‘professionals’ under the MSMED Act, 2006 will be entertained by High Court?
