However, there is an explanation to the aforesaid and in case of a composite order of any High Court or any Appellate Authority, which involves more than one assessment year and common issues in more than one assessment year, Appeal shall be filed in respect of all such assessment years even if the tax effect is less than the prescribed monetary limits in any of the years.
In a recent ruling, the Delhi High Court held that interest can be allowed on Refund of interest Waived by the Department under section 220(2A) of the Income Tax Act. The bench was hearing a bunch of writ petitions wherein the petitioners raised a question that whether the expression ‘in any other case’ occurring in Section 244A (1) (b) of the Income Tax Act would include the amount of refund which constitutes the interest that has been waived by the Income Tax Department under Section 220 (2A) of the Act?
Penalty proceedings initiated U/s 275 on issues unrelated to assessment of income (such as for s. 269SS/ 269T & TDS defaults), time limit runs from date on which the AO wrote a letter to the ACIT recommending the issuance of the SCN.
It cannot be denied that a bogus person should not be accepted as a surety. A person who is offering surety must have acceptable residential proof. He may be a tenant, licensee. A beggar can also stand as surety provided he should have some acceptable residential proof.
A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2017. Madras High Court has admitted the plea and issued notice to Finance Ministry.Section 271J of Income Tax imposed a penalty of Rs. 10,000 on Chartered Accountants for each wrong certification or report.
Appellant/Assessee is inter alia engaged in the manufacture of clinker and cement falling under Chapter heading 25 of the CE Tariff Act, 1985. Between 16th July, 1997 and 30th September, 1999, the Appellant received ‘Clearing and Forwarding Agent Service’ from various services providers.
Pr. CIT Vs Dr. Amrik Singh Basra (Punjab & Haryana High Court) After considering the relevant statutory provisions and the case law, the following conclusions were drawn :– “(1) Perusal of the JDA dated 25-2-2007 read with sale deeds dated 2-3-2007 and 25-4-2007 in respect of 3.08 acres and 4.62 acres respectively would reveal that […]
Up to the tax year 2011 dividend has been first included in the total income and thereafter deduction has been granted. The facts mentioned above clearly establish that the Assessee Society is entitled to getting credit for the deemed dividend tax by virtue of the provisions of DTAA read with Section 90 of the Income Tax Act, 1961
Admittedly, in the present case, there is an endorsement on the packet which was sent to the address of the noticee, namely, the sole proprietor; that the sole proprietor received it but refused to accept the same. When it was sent by R.P.A.D. to the address, it was returned by the postal authorities with the […]
The plaintiffs are permitted to serve the defendant No. 9 Ashok Kumar Agarwal by text message as well as through Whatsapp as well as by email and to file affidavit of service.
