Ministry of Finance: Clarification on applicability of Tax Deduction at Source on cash withdrawals
The CBDT, having considered the concerns of the people, hereby clarifies that section 194N inserted in the Act, is to come into effect from 1st...
Continuity of Erstwhile Incentives under GST Regime: Bombay High Court (Nagpur Bench) Judgement
The judgement in K. M. Refineries & Infraspace Pvt Ltd directs the state authorities to implement the incentive scheme as amended up-to-date with a discretion...
Condonation of delay – Words “sufficient cause” should receive liberal construction
Refusing to condone delay can result in a meritorious matter being thrown out at the very threshold and cause of justice being defeated. As against...
Penalty under section 271(1)(c) is invalid if charge is vague
A Bench of The Income Tax Appellate Tribunal Pune Bench “B”, Pune, comprising of Ms. Sushma Chowla, JM And Shri Anil Chaturvedi, AM had to...
CBDT Circular: Withdrawal of Pending cases after Enhancement of Monetary Limits
The CBDT has stated that it is clear that the revised monetary limits so mentioned in circular 17/2019 is applicable, to all pending SLPs/ appeals/...
Bombay High Court Board List – Download Latest 2019 List
The Bombay High Court Board List is also known as the sitting list. All judges of the Bombay High Court have to hear appeals and...
Supreme Court Judgement On CBDT’s Transfer Pricing Instruction No.3/2003 dated 20.05.2003
In THE PRINCIPAL COMMISSIONER OF INCOME TAX-4, MUMBAI Versus M/s. S.G. ASIA HOLDINGS (INDIA)PVT. LTD the Supreme Court has considered the law on transfer pricing...
Supreme Court Judgement: Non Issue Of S. 143(2) Notice Renders Assessment Order Void
The law on the point as regards applicability of the requirement of notice under Section 143(2) of the Act is quite clear from the decision...
Corruption In Tax Departments Will Not Be Tolerated: Prime Minister Narendra Modi
Prime Minister Narendra Modi gave an interview to the Economic Times in which he talked at length about the menace of corruption in the income-tax...
CBDT Clarification with respect to valuation of shares of Startup Companies involving application of Section 56(2)(viib) of the I. T. Act ,1961
Instances have come to the notice of the Board that substantial additions have been made by the AOs in “Start up Companies” involving issue of...