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Search and Seizure under CRPC and it’s reference under Section 132(13) Section 132 (13) of Income Tax Act 1961 make a reference of provisions on Search and Seizure contained under Criminal Procedure Code 1973. Importance of these provisions can be appreciated from the fact that even though the Law complying authority is Quasi Judicial...
Read MoreThe Hon’ble Supreme Court on 2nd March 2021 in the case of Engineering Analysis Centre of Excellence Private Limited Vs CIT, put a rest to the contentious issue of tax on Payment by end users or tech companies in India to suppliers abroad on import of software as ‘Royalty’. Let’s understand what was the issue […]...
Read MoreQ 1. Who has to submit Form 15CA and 15CB? Ans. Any Person, responsible for paying any sum to a Non Resident, not being a Company, or to a Foreign Company, shall furnish Form 15CA and 15CB. Such sums sought to be remitted outside India may be chargeable or may not chargeable to tax in […]...
Read MoreArticle compiles due dates of compliance related to GST, Income Tax, ESI, PF Acts which includes compliance related to GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8, RFD-10, Due dates for payment of TDS/TCS, Dues date for Payment of Advance Tax, Due date for Issue of TDS/ TCS Certificates, Due date for linking of [&he...
Read MoreGovernment in Budget 2021 notified Leave Travel Concession (LTC) cash Voucher scheme. In view of the situation arising out of outbreak of COVID pandemic, it is proposed to provide tax exemption to cash allowance in lieu of LTC. Initially, the scheme was announced in October 2020 for Central Government Employees and later via a press [&hel...
Read MoreRepresentation with respect to 'Faceless Appeal Scheme' proposed to be introduced in the functioning of Income Tax Appellate Tribunal (ITAT), by the Finance Bill 2021...
Read MoreThe Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad....
Read MoreThe Income Tax Department carried out search and seizure operations on 03-03-2021on two groups of civil contractors in Southern Tamil Nadu. Searches and surveys were conducted in 18 premises mainly in Madurai and Ramnad districts....
Read MoreThe Income Tax Department carried out search & seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. ...
Read MoreIncome Tax Department conducted searches on a prominent business group located in Chennai on 26.02.2021. Search was conducted at 11 premises and surveys in 9 premises of the group in Tamil Nadu, Gujarat and Kolkata. This business group is engaged in the business of manufacture and sale of Tiles and Sanitary-ware and are leaders in Tiles b...
Read MoreGyan Mata Radha Satyam Kriyayog Ashram Research Institute Vs ITO (ITAT Allahabad) - Gyan Mata Radha Satyam Kriyayog Ashram Research Institute Vs ITO (ITAT Allahabad) On the one hand, the Assessing Officer has given the date of compliances in the above table whereas the penalty was imposed on the ground that the above notices were not complied by the assessee. Further, the Assessing...
Read MoreSmt. Anasuya Basi Reddy Vs ITO (ITAT Bangalore) - Smt. Anasuya Basi Reddy Vs ITO (ITAT Bangalore) The Assessing Officer in the impugned assessment order had made addition of Rs.50,000 as unexplained cash credits in the bank account of the assessee. The said amount has been deposited in Karnataka Bank saving bank account on 07.04.2007 (cash deposit)...
Read MoreUber India Systems Private Limited Vs JCIT (ITAT Mumbai) - Uber India Systems Private Limited Vs Jt. CIT (ITAT Mumbai) Uber B.V. is involved in rendering lead generation service to the Driver-Partner and transportation service is not provided by Uber B.V. or UISPL. The transportation service is provided by the Driver- Partner to the User for which the car i...
Read MoreBank of India Vs ACIT (ITAT Mumbai) - Bank of India Vs ACIT (ITAT Mumbai) To sum up, the assessee is declined the foreign tax credits for Rs 182,64,22,948, and, accordingly, we hold that the assessee is not entitled to seek a refund of that money from the Indian tax exchequer. As we hold so, we may add that in the present case, [&hellip...
Read MoreSmt. Delilah Raj Mansukhani Vs ITO (ITAT Mumbai) - we find that compensation received by the assessee towards displacement in terms of Development Agreement is not a revenue receipt and constitute capital receipt as the property has gone into redevelopment. In such scenario , the compensation is normally paid by the builder on account of hardship ...
Read MoreNotification No. 11/2021-Income Tax/G.S.R. 155(E). - (05/03/2021) - CBDT prescribes rules for determination of Annual accretion for the purposes of section 17(2)(viia) of Income Tax Act, 1961 vide Notification No. 11/2021-Income Tax dated 5th March, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 11/2021-Income Tax ...
Read MoreF. No. Pr. CCIT(IT)/Delhi/Juris./ Eq. Levy /2020-21/1414 - (03/03/2021) - The Principal Chief Commissioner of Income-tax (International Taxation), hereby makes the following amendments in the Jurisdiction Order No.3/2020 vide F.No. Pr. CCIT(IT)/Delhi/Juris./ Eq. Levy /2020-21/789 dated 22.12.2020, namely:-...
Read MoreF. No.225/40/2021/ITA-II - (04/03/2021) - CBDT directs that following categories of cases be considered as 'potential cases' for taking action u/s 148 of Act by 31.03.2021 for the A.Y 2013-14 to A.Y 2017-18 by Jurisdictional Assessing Officer ...
Read MoreCircular No. 03 of 2021-Income Tax - (04/03/2021) - Under section 10 of Vivad se Vishwas, it is hereby clarified that where designated authority has passed orders under section 5(1) & (2) of Vivad se Vishwas, the Assessing Officer shall pass consequential order....
Read MoreF. No. 13018/05/2020-AIS(I) - (04/03/2021) - The Rules for Civil Services Examination (CSE)-2021 to be held by the Union Public Service Commission (UPSC) for the purpose of filling vacancies in the following Services are, with the concurrence of the Ministries concerned and the Comptroller and Auditor General of India in respect of the Indian ...
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Gyan Mata Radha Satyam Kriyayog Ashram Research Institute Vs ITO (ITAT Allahabad) -
Smt. Anasuya Basi Reddy Vs ITO (ITAT Bangalore) -
Uber India Systems Private Limited Vs JCIT (ITAT Mumbai) -
Bank of India Vs ACIT (ITAT Mumbai) -
Smt. Delilah Raj Mansukhani Vs ITO (ITAT Mumbai) -
Society For Institute For Professional Studies Vs JCIT (ITAT Delhi) -
Loesche India Pvt. Ltd Vs ACIT (ITAT Delhi) -
Prestige Estates Projects Ltd Vs ACIT (ITAT Banglore) -
Armatic Engineering (P) Ltd. Vs DCIT (ITAT Bangalore) -
