Assessing Officer cannot be confined in assessing “undisclosed” income even in concluded assessments even if no material is found during search

Assessing Officer cannot be confine...

The ITAT, Bangalore in the case of Ms. Nandini Delux vs. Asst. Commissioner of Income Tax, it was held that where no proceedings were pending and no m...

Exemption under section 10 allowed even if profit is earned by an institution

Exemption under section 10 allowed ...

The ITAT, Hyderabad in the case of Asst. director of Income Tax (II), Hyderabad vs. Moon ray educational Society, held that exemption can be allowed u...

No setting aside of assessment by the CIT merely on the ground that he does not agree with the assessing officer

No setting aside of assessment by t...

It has recently been held in the case of Mehtab Alam Sultan Villa, Jajmau vs. Asst. CIT Central Circle II, Kanpur, 2014 (12) TMI 140 – ITAT, that the ...

No deduction under section 54F if an assessee purchases any house except a new residential house within a one year after the date of transfer

No deduction under section 54F if a...

As per the provisions of section 45 of the Income Tax Act the profit arising out of the transfer of capital assets in the previous year is chargeable ...

INCOME TAX ARTICLES

Assessing Officer cannot be confined in assessing “undisclosed” income even in concluded assessments even if no material is found during search

Assessing Officer cannot be confined in assessing “undisclosed” income even in concluded assessments even if no material is found during search

The ITAT, Bangalore in the case of Ms. Nandini Delux vs. Asst. Commissioner of Income Tax, it was held that where no proceedings were pendin...

INSURANCE UPDATES

SBI- Life Sudarshan Plan

[caption id="attachment_2007" align="alignleft" width="200"] Buying an Insurance[/caption] Insura...

SERVICE TAX UPDATES

arrears of deceased

Is there a Waiver in Arrears of Penalty for Deceased Individuals?

The proposition There are various corporate laws, which are applicable on any working individual. However, certain issues have been missi...

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