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 petitions as per the Board List Read More …
Month: August 2019
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 and whether by not making reference to the TPO, the Assessing Officer had breached the mandatory instructions issued by the CBDT in Instruction No.3/2003 Read More …
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 in Blue Moon’s case2. The issue that however needs to be considered is the impact of Section 292BB of the Act Read More …
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 and indirect taxes department. He explained the Government would no longer tolerate corruption amongst Government officials Read More …
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 valuation of shares u/s S56(2)(viib) Read More …
CBDT Clarification with respect to assessment of Start up Companies involving application of section 56(2)(viib) of the Income-tax Act, 1961
Instances have come to the notice of the Board that notices u/s 143(2)/147 have been issued by the Assessing Officers in respect of Startup Companies, before the issue of notification of the Department for Promotion of Industry and Internal Trade (henceforth referred to as ‘DPIIT’) dated 19.02.2019 or even afterwards which are presently pending for disposal. These companies have been recognized by the DPIIT after the issue of their notification dated 19.02.2019 Read More …
CBDT Clarification in respect of filling-up of the ITR forms for the Assessment Year 2019-20
The Income-tax return (ITR) forms for the Assessment Year (AY) 2019-20 were notified vide notification bearing G.S.R. 279(E). dated the 1st day April, 2019. Subsequently, the instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms were also released. After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued Read More …
CBDT Circular On Monetary Limits For Filing Appeals By Income-Tax Dept
CBDT Circulars On Enhancement of Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal. High Courts and SLPs/appeals before Supreme Court – Amendment to Circular 3 of 2018 Measures for reducing litigation Read More …