S.O. 3468(E).— Whereas, the Agreement between the Government of the Republic of India and the Government of the State of Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as the “DTAA” )was signed on the 7th April, 1999; Whereas, clause (ii) of para 3 of Article 11 of DTTA provides for the mutual agreement for granting exemption from tax on interest derived and beneficially owned by governmental financial institutions/agencies;
ICAI has submitted 121 suggestions on various topics under GST to Union Minister of Finance, Shri Shri Piyush Goyal which includes suggestions on General Issues, Definitions, Classification And Exemption, Scope Of Supply, Composite And Mixed Supply, Composition Levy, Time & Value Of Supply, Input Tax Credit, Registration, Tax Invoice, Accounts & Records, Returns, Payments, Refunds, […]
SEBI, vide circular No. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 dated April 20,2018, inter-alia, mandated RTAs to send a letter under Registered / Speed post seeking PAN and bank details within 90 days of the said circular and two reminders thereof after the gap of 30 days.
CBDT has issued Circular No. 3/2018 dated 11.07.2018 enhancing the monetary limits for filing SLPs/appeals before Supreme Court, High Courts and ITAT. Consequently, SLPs/appeals pending before these fora which are covered by the said Circular are required to be withdrawn/not pressed on priority so that the Department can focus on high value litigations.
Shri Ashok Jain Vs ACIT (ITAT Mumbai) In the present case the assessee has not filed any wealth tax returns. The Hon’ble Rajasthan High Court in the case of Satya Narain Patni (supra) noted that the jewellery found during the search was within the limits prescribed by the CBDT circular and in the first instance, […]
As neither the assessment order nor the show cause notice stated the specific charge of alleged concealment and/or furnishing of inaccurate particulars of income vis-a-vis addition made by AO, entire penalty proceedings under Section 271(1)(c) were vitiated.
CIT Vs Shri. Shaji thomas (Kerala High Court) Assessing Officer had accepted the fact that 97.60 Ares of land sold by the assessee is agricultural land. In fact, the said finding was also on proof of specific agricultural operations having been undertaken in the said The adjacent land which is lying as Kayal land and […]
Vidya Education Vs ITO (ITAT Delhi) The operative words in Section 23(1)(a) are the sum, for which, the property might reasonably be expected to let from year to year. These words provide a specific direction to the Revenue for determining the fair rent. The A.O. having regard to the aforesaid provisions is expected to make […]
Pramod Kumar Lodha Vs ITO (ITAT Jaipur) Decision of the AO holding the transaction as bogus and denying the claim of long term capital gain under section 10(38) of the Act is based on suspicion without any material evidence to controvert or disprove the evidence produced by the assessee. The enquiry conducted by the ITO […]
AO has remained sited with folded hands and has not made any independent enquiry from concerned AO of share holder company which itself is sufficient to knock off the addition made. On basis of this I have no hesitation to delete the additions of Rs 25,00,000 and Rs 45,000 made u/s 68
