Time to Remind for Timely Issue of TAR / ITR Forms & Utilities for A.Y. 2016-17 It is generally expected that the Income Tax Return (ITR) forms and Tax Audit Report (TAR) form and utilities for uploading them on the website of the Income Tax Department should become finally available for public use, as on […]
Tag Archives: Income Tax updates
Diagnostic Labs to deduct TDS on discount given to hospitals/laboratories U/s. 194H Case Law Citation: -M/s DDRC SRL Diagnostic P Ltd. Vs. ITO (ITAT MUMBAI), ITA No.3872/Mum/2013, Date of Decision: 23.09.2015 Brief of the case: In the case of M/s DDRC SRL Diagnostic P Ltd. Vs. ITO Mumbai Bench of ITAT have held that If […]
If absence of exempt income disallowance u/s 14A not warranted Case Law Citation:– M/s Chhaganlal Khimji & Co. Vs. ACIT (ITAT MUMBAI), ITA No. 7629/Mum/2013, Date of Decision: 23.09.2015 Brief case of the case: In the case of M/s Chhaganlal Khimji & Co. Vs. ACIT Mumbai Bench of ITAT have held that that no disallowance […]
Reason to believe that income has escaped assessment not sufficient to reopen assessments beyond 4 years Citation of the Case:- CIT vs. Vishishth Chay Vyapar Ltd. (Delhi High Court), Income Tax (Appeal) Nos. 1108, 1109 of 2010, Date of Judgment: 03/12/2015 Brief of the Case Delhi High Court held In the case of CIT vs. […]
No capital gain accrues until right to receive compensation confirmed in proceedings under Land Acquisition Act Citation of the Case:- CIT vs. Suman Dhamija (Delhi High Court), Income Tax Appeal Nos. 20 of 2003 & others, Date of Judgment: 08/12/2015 Brief of the Case Delhi High Court held In the case of: CIT vs. Suman […]