Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20

Cases selected for ‘Limited Scrutiny’ but credible specific information has been/is received from any law- enforcement/intelligence/ regulatory authority or agency regarding tax-evasion in such...

Modification by CBDT in the new system of approval in respect of application under section 197 of Income Tax Act

Various administrative and systematic difficulties related to such amount of revenue forgone under the newly introduced system of online application uls 195/197 of the...

ITAT Vice Presidents Transferred By Justice P P Bhatt

Shri Pramod Kumar, Vice President, Income Tax Appellate Tribunal, Ahmedabad Zone (with Headquarter at Mumbai) is transferred to ITAT Mumbai Benches as Vice President (Mumbai Benches)...

CBDT Consolidated circular No. 22/2019 dt. 30.08.2019 for assessment of Startups

In order to provide hassle-free tax environment to the Startups, a series of announcements have been made by the Hon’ble Finance Minister in her...

Taxation Of Startups – Angel Tax: Complete Guide

This is a guide to the levy of "angel tax" on start-ups. It summarizes the legislative amendments made to the Income-tax Act 1961 and...

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...

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...

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...

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...

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/...