Home Highlights September 2019 Year 2019 This

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1. CBDT authorises that the Assistant Commissioner of Income-tax (e-Verification), having headquarter at Delhi, to act as prescribed Income-tax Authority for the purpose of...

2. Amendment of section 147. - Reopening of an assessment - a case shall be deemed to be a case where income chargeable to tax has escaped assessment where on the basis of...

3. Control of income-tax authorities - U/s 118 of IT ACT 1961 - Specifies the income-tax authority or authorities as subordinate to such other income-tax authority or...

4. Exempted capital gain wrongly shown in the belated return as taxable - just because the assessee inadvertently or by ignorance has shown the exempt income as exigible to...

5. Addition u/s 37(1) - disallowing interest provided on loan - loan was used to purchase shares - Assessee received loan in earlier years on which interest is also paid...

6. CBDT extends due date for filing Income Tax Returns and Tax Audit Reports

7. While issuing Draft order u/s 144C, AO issued demand notice with penalty notice - If particular income is taxable under the I.T. Act, it cannot be taxed on the basis of...

8. Central Board of Direct Taxes (CBDT), extends the due date of filing of returns.

9. Central Board of Direct Taxes (CBDT), extends the due date of filing of returns.

10. Computation of closing stock - Merely because the assessee agreed even after the retrieval stock included in the closing stock and considered for computation income in...

11. Reopening of assessment u/s 147 - There was live link or direct nexus between the material which suggested the escapement of income and information on the basis of...

12. UNION BUDGET 2012-13 - DIRECT TAX - INCOME TAX.

13. Disclosure of income under VDIS - set off of tax under VDIS with advance tax (including TDS) in regular course - a Section 70 and 71 mandate that the income disclosed in...

14. Taxable income to tax u/s 44BB v/s Section 44DA read with section 9(l)(vii) - The profit from this income was estimated at 25% and offered to tax at 40% plus applicable...

15. Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...