Where AO had framed the reassessment under section 148 without issuing notice under section 143(2), the reassessment order was invalid because it is mandatory obligation of AO to serve notice by assigning reasons therein with regard to his belief of escaped tax liability before making assessment of any escaped income.
Moet Hennessy India Pvt Ltd Vs ACIT (ITAT Delhi) In the present case, no new facts have emerged and all the facts brought to record, during the course of the assessment proceedings, do not indicate legally sustainable basis for coming to the conclusion that there was an internal transaction in respect of AMP expenses incurred […]
Central Government, with a view to specify the nature of acquisition in respect of which the provision of sub-clause (a) of clause (iii) of sub-section (1) of section 112A of the Income-tax Act shall not apply, hereby notifies the transactions of acquisition of equity share entered into—
Pee Aar Securities Ltd Vs DCIT (ITAT Delhi) The assessee before us is a private limited company which is, by law, prohibited from offering its securities for subscription by general public. It cannot, therefore, be really open to the assessee to say that we have no clue about who the subscribers to the share capital […]
Smt. Geeta Rani Vs CPIO, M/o Youth Affairs & Sports (Central Information Commission) The BCCI should be listed as a NSF covered under the RTI Act. The RTI Act should be made applicable to BCCI along with its entire constituent member cricketing associations, provided they fulfil the criteria applicable to BCCI, as discussed in the […]
Vikram Singh Vs CIT (Allahabad High Court) The only contention raised by the learned counsel for the appellant-assessee is that the notice was not issued with the prior sanction of the Joint Commissioner, but sanction was accorded by the Additional Commissioner and, therefore, notice under Section 148 of the Act issued by the A.O. was […]
Reliance General Insurance Co. Ltd. Vs ITO (ITAT Mumbai) We shall first advert to the remittance of USD 100,000 made by the assessee towards licence fees to M/s Fair Isaac International Corpn. We have perused the copy of the agreement entered into by the assessee with M/s Fair Isaac International Corpn i.e “Fair Isaac Order […]
ITO Vs VCI Hospitality Ltd (Central: Tis Hazari Courts, Delhi) As per complaint, accused has defaulted in timely deposit of TDS amount. However, the due amount for the year 2008-09 has been reduced to Rs. 40/- only but after filing of various correction statements which are admittedly filed after filing of present prosecution. The Ld. […]
Notification in respect of assigning jurisdiction to Commissioner (Appeals) under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BM Act)- reg.
Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 21/2018-Customs (N.T./CAA/DRI) New Delhi, dated the 01st October, 2018 S.O. (E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, […]
