As per section 246A of the Act, the assessee has a right to file an appeal before CIT(A) against the intimation under section 200A of Act.
Home Developers Vs DCIT (ITAT Pune) On perusal of the agreement, it was observed that the assessee paid Rs.36,09,000/- being compensation paid to land-owners, for allotting less than agreed constructed area, as per development agreement. The AO asked the assessee to submit the supporting documentary evidences viz., confirmation from the parties, books of accounts of their parties […]
Eligibility of remuneration, share of profits received from partnership firm, whose profits are eligible for deduction u/s 80IB of Income Tax
Held that a residential house for the purpose of section 54F(1) deduction can indeed cover multiple units in same or different towers or residential blocks
It is settled position of law that AO cannot levy penalty on charges different from the charges for which penalty proceedings were initiated
With the advent of Insolvency and Bankruptcy Code, 2016 (IBC), there has been a transformative turnaround in the corporate insolvency resolution framework in India. However, the IBC does not accommodate and provide for specific arrangements or contains any provision for group insolvency as the legislation itself is still evolving and is designed for a single economic entity.
DCIT Vs Continental Warehousing Corporation (Nhava Sheva) Ltd (ITAT Pune) The only issue is to be decided is as to whether the CIT(A) justified in allowing deduction u/s. 80IA(4) of the Act in respect of Container Freight Station (CFS). At the outset, we note that this issue is covered in favour of the assessee by […]
FTS does not include consideration `which would become income of the recipient chargeable under the head Salaries’.
State Bank of India Vs ACIT (ITAT Pune) We find that the assessee had deducted TDS as per rates prescribed by the Act and the same was deposited in Central Government account, but with a delay in filing the TDS statement as required under law. For such failure the respondent-revenue levied late fee u/s. 234E […]
Held that when there is a delay, a late fee u/s 234E and 200A of the Act is automatic and there is no discretion not to levy late fees with the TDS Officer.
