CBDT procedure for launching prosecution for TDS-TCS default Feb. 12 INCOME TAX ARTICLES, SERVICE TAX UPDATES, Tax Updates no comments The Central Board of Direct... Read More
Income Tax
The ITAT, Delhi in the case of Assistant Commissioner of Income Tax vs. Vijay Singh Kadan, Legal Heir of Late Shri Randhir Singh Kadan, 2014... Read More
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... Read More
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... Read More
An assessee’s method of accounting cannot be rejected merely because it gives him some advantage
2 min read
The ITAT Ahmadabad in the case of Ms. Ambuja Oil Industries vs. the Income Tax Officer, 2014 (11) TMI 647, held that the regular method... Read More
The Karnataka High Court in the case of Commissioner of Income Tax vs. Shri Madhukumar N (HUF) (ITA 396 of 2009) has held that if... Read More
The Bombay High Court in the case of Coca¬ Cola India Pvt. Ltd. vs. The Assistant Registrar, The Income Tax Appellate Tribunal & Others, being... Read More
When can reopening of assessment be allowed?
4 min read
Section 147 of the Income Tax Act, 1961 allows reopening of assessment of income, in case the Assessing Officer believes that any income which is... Read More
Text of Request made to CBDT for DEFERMENT OF NEW AUDIT REPORT for ASSESSMENT YEAR 2015-16.
5 min read
As members of the Institute would be aware that CBDT has introduced new format for uploading Tax Audit Report for the Assessment Year 2014-15 relevant... Read More
It has been recently held by the ITAT Delhi in the case of Mithila Credit Services Ltd vs. ITO, being ITA No. 1078/Del/2013 that the... Read More