Monthly Archive: November 2019

show cause notice u/s 274 of the Act does not strike out the inappropriate words then that imposition of penalty cannot be sustained. Ratan Kumar Paul Vs DCIT

Friends, if a show cause notice issued u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income and the show cause…
Read more

271(1)(c), 274, AY 2008-09, In Favour of Assessee, Kolkata tribunal

November 16, 2019

143 list

143

client, General

November 16, 2019

Since no incriminating material was unearthed by AO during the course of search ‎operation under section 132, therefore no addition could be made during the ‎relevant assessment year under section 153A. Mona Agarwal & Anr. v. ACIT

Income Tax Act, 1961, Section 153A Search and seizure–‎ Assessment under section 153A– ‎ Since no incriminating material was unearthed by AO during the course of search ‎operation under section 132, therefore no addition could be made during the ‎relevant…
Read more

132, 153A, Delhi, incriminating material

November 16, 2019

Gift under income tax section 56(2)(v)

November 16, 2019

New Rules regarding Issue of securities including shares Preference Shares, Debentures ‎NCDs and CCDs etc. by any public companies which is not listed

New Rules regarding Issue of securities including shares Preference Shares, Debentures ‎NCDs and CCDs etc. by any public companies which is not listed Now Every unlisted public company shall facilitate dematerialisation of all its existing ‎securities by making necessary application…
Read more

Articles, dematerialised form, ISIN, MCA, unlisted public company

November 16, 2019

Moreover, addition was made only on statement of Sh. VK without providing copy of same ‎and without providing any opportunity to assessee to cross examine same, which was in ‎violation of principle of natural justice and against law laid down by Supreme Court of ‎India in case of Andaman Timber vs. CIT—Therefore, in present case, addition made by ‎AO on basis of statement of Sh. VK was deleted

ANUBHAV JAIN vs. INCOME TAX OFFICER DELHI TRIBUNAL H. S. SIDHU, JM.‎ ITA No. 4565/DEL/2018, 4566/DEL/2018‎ Nov 26, 2018‎ ‎(2018) 54 CCH 0273 DelTrib‎ Legislation Referred to Section 142(1), 143(2)‎ Case pertains to Asst. Year 2014-15‎ Decision in favour of:‎…
Read more

November 16, 2019

Unless corroborative evidence is found during course of survey, search & seizure, addition cannot be made ‎merely on statement recorded.‎

CONCEPT COMMUNICATION LTD. vs. DEPUTY COMMISSIONER OF INCOME TAX BOMBAY TRIBUNAL R. C. SHARMA, AM & SANDEEP GOSAIN, JM.‎ ITA No. 2800/Mum/2016, 2801/Mum/2016, 2802/Mum/2016, 2803/Mum/2016, 2804/Mum/2016, ‎‎3026/Mum/2016, 2805/Mum/2016‎ Nov 14, 2018‎ ‎(2018) 54 CCH 0274 MumTrib‎ Legislation Referred to Section…
Read more

143(3), 148, 151

November 16, 2019

GST RATES FOR GOODS

Please click http://www.cbic.gov.in/htdocs-cbec/gst/index

GST, Office system

November 16, 2019

the assessments which have already attained finality and does not get ‎abated, then they have to be assessed on the basis of the incriminating ‎material found during the course of search. The reason being that the ‎assessments which are pending and get abated, the entire income has to be ‎determined which includes material already on record and also the ‎material found as a result of search.‎ DCIT v. United Stock Exchange of India Ltd.

the assessments which have already attained finality and does not get ‎abated, then they have to be assessed on the basis of the incriminating ‎material found during the course of search. The reason being that the ‎assessments which are pending…
Read more

November 16, 2019

2018 Subsidy for trade fair, air fare grant

IC-Scheme-Guidelines-June-2018

November 16, 2019