Income Tax : Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legi...
Company Law : Explore the impact of Income Tax sections 269SS & 269T in India, designed to curb tax evasion. Learn scenarios, exceptions, penalt...
Income Tax : Learn about Section 269SS and penalties for cash transactions in property transfers. Case analysis, judicial pronouncement, and ex...
Income Tax : Explore provisions and penalties in the Income Tax Act 1961 regarding cash transactions. Understand limits for loans, deposits, an...
Income Tax : Discover why Section 40A(3) limits cash payments and promotes a cashless economy, including reduction of black money generation. P...
Income Tax : DON’T √ Accept cash of Rs. 2,00,000 or more in aggregate from a single person in a day or for one or more transactions r...
Income Tax : It is suggested that there should be a positive provision under the I.T. Act that any transaction involving more than Rs.3,00,000/...
Income Tax : Andhra Pradesh High Court quashes prosecution against Aditya Institute for delayed TDS deposit, citing reasonable cause under Sect...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Calcutta High Court held that share application money or its repayment does not fall under Section 269SS & 269T, as the same are n...
Income Tax : Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT's orders on loan payments....
Income Tax : Section 271D penalty proceeding cannot be initiated if AO fail to record his satisfaction before initiating penalty penalty procee...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
Income Tax : In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CD, for serial number 31 and the entries relating thereto the followin...
Fema / RBI : Section 269SS and 269T of the Income Tax Act, 1961, the requirements under the Income Tax Act, 1961, as amended from time to time,...
Explore the case of DCIT Vs Platinum Towers Pvt. Ltd. (ITAT Delhi) regarding personal expenses treated as income, penalties under Section 269SS, and conclusions on the matter.
Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legislative framework, judicial interpretations, and penalties.
Kalpana Sunil Vaid’s appeal against a penalty under Section 271D of the Income Tax Act for loans taken from partnership firms is dismissed by ITAT Ahmedabad.
Sunil Dandriyal vs JCIT case underscores significance of understanding the correct starting point for calculating the time limit for penalty proceedings under Section 271D of the Income Tax Act. The decision reinforces the principle that the initiation of penalty proceedings by the AO, rather than the issuance of a show-cause notice by the JCIT, triggers the commencement of the statutory time limit.
Explore the Kerala High Court’s decision upholding Section 148A(d) order against St. John The Baptist Church for accepting and repaying cash loans, deemed as income escape.
Explore the impact of Income Tax sections 269SS & 269T in India, designed to curb tax evasion. Learn scenarios, exceptions, penalties, and ensure financial compliance.
Read the full text of ITAT Mumbai’s order in Rohinton Homi Sanga Vs DCIT case. No income tax addition for an employee acting on behalf of company directors. Analysis and conclusion provided.
Learn about Section 269SS and penalties for cash transactions in property transfers. Case analysis, judicial pronouncement, and expert insights on reasonable cause.
Delhi High Court ruling on PCIT vs. Thapar Homes Ltd. emphasizes issuing notices under Section 274 before the Income Tax Act’s limitation period. Full judgment analysis.
Read the detailed analysis of Vijapurapu Sudha Rao vs ITO case by ITAT Visakhapatnam. No penalty under section 271D for cash sale if promptly deposited in the bank.
