Income Tax - NEWS DIRECT TAX 1. CBDT prescribes ‘Other Electronics Modes’ for the purpose of electronic payments & receipts. [Ref: NOTIFICATION NO. 8/2020 [G.S.R. 56(E)/ F.NO.370142/14/2019-TPL], DATED 29-1-2020] 2. CBDT notifies ‘Institute of Pesticide Formulation Technology’ for the purpose of sec. 35 deduction. [Ref: NOTIFICATION NO. S...
Read MoreIncome Tax - Article is all about Income Tax Appellate Tribunal. It mainly informative about Appealable orders in case of appeal by the taxpayer, Appealable orders in case of appeal by the Commissioner, Time- limit for presenting appeal, Memorandum of cross objection, Documents to be submitted with appeal, Fees for filing the appeal, Filing of additio...
Read MoreIncome Tax - NEWS INTERNATIONAL 1. Australian Taxation Office publishes important guidance on cross-border tax measures 2. Singapore, Turkmenistan sign comprehensive tax treaty 3. Zimbabwe proposes amendments to thin capitalization rules. 4. Bulgarian mandatory transfer pricing documentation rules enacted 5. USA and Curacao negotiating country-by-coun...
Read MoreIncome Tax - Recent Income Tax circulars/ notifications/ rules/ clarifications CBDT has clarified that small start-ups with turnover up to Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961, which provides deduction for 100 per cent of income of an eligible start-up for 3 years [&hel...
Read MoreIncome Tax - When in an RTI Order it was clearly stated that approval was not there and after granting various opportunities to Departmental representative for bringing the copy of approval which he could not, reliance was placed on the affidavits of the officers and it was considered as sufficient evidence for adjudicating the ground....
Read MoreIncome Tax - ‘Decision Kit for Departmental Officers’ is brought out for the use of the Officers of the Department. This is compiled by Shri Y.V.S.T.Sai, I.R.S., Commissioner of Income Tax, Hyderabad. This compilation book would serve as a ready reference and handy tool to the Officers of the Department in their core functions. As it is often [&he...
Read MoreIncome Tax - The order dated 5th October 2017 issued by the Asst. Registrar mentions that Your Honour has passed an order whereby he has been authorised to preside over a Court for the purpose of discharging his statutory functions as per the provisions of Income Tax (Appellate Tribunal) Rules, 1963 ...
Read MoreIncome Tax - Hon'ble Ravi Shankar Prasad, Union Minister of Law & Justice Hand Electronics & Information Technology, inaugurated Surat bench of the Income Tax Appellate Tribunal, on 1st September, 2017. Hon'ble Shri P.P.Chaudhary, Union Minister of State for Law & Justice and Electronics & Information Technology, was the Guest of Honor of the function...
Read MoreIncome Tax - The Registry is directed to fix all the Stay Applications, whatever are received up to Wednesday in each week on the succeeding Friday before the respective Bench. This order be strictly followed....
Read MoreIncome Tax - Over a period of time, it was widely felt that the Income-tax (Appellate Tribunal) Rules, 1963, have outlived their utility to some extent in view of changing circumstances and the use of technology in the Tribunal’s functioning. In the times to come, the use of technology in the Tribunal’s day to day functioning will increase manifol...
Read MoreMDLR Builders (P) Ltd. Vs DCIT (ITAT Delhi) - When a retiring partner took only money towards the value of his share on retirement and when there was no distribution of capital asset/ assets going to the partners, there was no transfer of capital asset and consequently no profits or gains was chargeable u/s. 45 (4)....
Read MoreMahanadi Coal Fields Ltd. Vs JCIT (TDS) (ITAT Cuttack) - The assessee cannot escape himself for non-filing quarterly TDS merely stating that the PAN of the employees are not available. The penalty is provided in the Income Tax provisions u/s.272A(2)(k) of the Act is mandatory in nature except in case of reasonable cause proved by the assessee, which is la...
Read MoreSmt. Sanjana Mittal Vs DCIT (ITAT Amritsar) - Where no assessment proceedings are pending on the date of search and seizure proceedings, the assessment under section 153A can be carried out only on the basis of seized material and where no incriminating material was unearthed during the course of search proceedings, addition could not be made i...
Read MoreChinnappa Anthonappa Vs ACIT (ITAT Bangalore) - The assessee had complied with conditions for grant of deduction under sections 54B inasmuch as he has utilised, within a period of two years from the date of transfer of capital asset, the capital gain in purchasing another land for being used for agricultural purposes, therefore, mere fact that as...
Read MoreDCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi) - DCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi) The assessee has admittedly sold the agricultural land as it is so there were no intention to do any business activity, therefore, period of holding would not be relevant. The intention of the assessee is therefore clear that assessee p...
Read MoreNA - (17/10/2017) - The copies of orders to be served upon the Departmental Representatives and the Commissioners of Appeal/ Dispute Resolution Panel will henceforth be served only by email. [A copy of the letter dated 13th October 2017 in this regard, received from the CIT (Admn)- with the approval of the Principal Ch...
Read MoreOrder - (29/03/2012) - Vide Order dated 29.3.2012 passed in Pursuance of the consultations of the collegiums of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Income Tax Appellate Tribunal have been transferred, in public interest, in the sa...
Read MoreNotification - F. No. A-12018/2/2007 – Admin III (LA) - (03/06/2009) - Ministry of Law & Justice, Department of legal Affairs, New Delhi Notification Dated : 3rd June 2009 GSR 889 (E). In exercise of the powers conferred by the Proviso to section 309 of the Constitution...
Read MoreNotification F.No. 71-AD (AT) 2009 (ITAT Notification) - (01/05/2009) - Income-tax (Appellate Tribunal) Amendment Rules, 2009 - Amendment in rule 34 NOTIFICATION F.NO. 71-AD (AT) 2009, DATED 1-5-2009. In exercise of the powers conferred by sub-section (5) of section 255 of the Income-tax Act, 1961, the Appellate Tribunal hereby makes the following rules further to ame...
Read More5 - (15/05/2008) - The CBDT, as a measure to reduce litigation, revised the monetary limits for filing appeals by the Department before Income Tax Appellate Tribunals, High Courts and Supreme Court. Accordingly, appeals would henceforth be filed in the ITAT only if the tax effect exceeded Rs.2,00,000, in the high cour...
Read MoreMDLR Builders (P) Ltd. Vs DCIT (ITAT Delhi) -
Mahanadi Coal Fields Ltd. Vs JCIT (TDS) (ITAT Cuttack) -
Smt. Sanjana Mittal Vs DCIT (ITAT Amritsar) -
Chinnappa Anthonappa Vs ACIT (ITAT Bangalore) -
DCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi) -
Hirsh Bracelet India Pvt. Ltd. Vs ACIT (ITAT Bangalore) -
ACIT Vs Shri Anumod Sharma (ITAT Delhi) -
Mahindra & Mahindra Ltd. Vs DCIT (ITAT Mumbai) -
Gajjan Singh Thind Vs ACIT (ITAT Chandigarh) -