New Procedure for Adjustment of demand against Income Tax Refund F. No. 312/109/2015-OT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes OFFICE MEMORANDUM Sub : Issue of refunds – procedure to be followed in other cases where notice under Section 245 has been issued for ITRs processed in F.Y. […]
Tag Archives: Case Laws
Disallowance u/s 14A gets attracted even if a mix of interest bearing & non-bearing funds used to make investments earning exempt income Case Law Citation: –M/s Thermotech Engineering vs. ACIT, Pune (ITAT Pune), ITA No.- 533/PN/2013, Date of Pronouncement – 30.10.2015, Assessment Year-2009-10 Brief of the case: The ITAT bench of Pune in the case […]
Cancellation of Registration U/s 12AA(3) should be based on activities of Trust and not of Trustees Case Law citation:-Friends of WWB India Vs Director of Income Tax-Exemption (ITAT Ahmedabad), ITA No. 2076/Ahd/2014, Asstt year 2009-10, Date of decision – 14-08-2015 Appeal is raised by assessee against order of the Director of Income Tax (Exemption) issued […]
Transfer pricing adjustment is not one of the adjustments contemplated under Explanation 1 Section 115JB(2) Case Law Citation: -M/s. Cash Edge India (Pvt.) Ltd., vs. ITO, (ITAT DELHI), ITA No. 64/Del/2015, Date of Decision: 23.09.2015 Brief of the case: In the case of M/s. Cash Edge India (Pvt.) Ltd., vs. ITO Delhi Bench of ITAT […]
Voluntarily surrender of income can’t escape penalty if assessee deliberately not shown unaccounted income in return Case Law Citation: -DCIT Vs. M/s Sunrise Stock Services P.Ltd. (ITAT CHANDIGARH), ITA No. 694/ CHD /2011, Date of Decision: 12.08.2015 Brief of the case: In the case of DCIT Vs. M/s Sunrise Stock Services P.Ltd. Chandigarh bench of […]