Category: All Information

CBDT Dilutes Applicability Of Low Tax Effect Circular

The CBDT has issued a directive dated 20th August 2018 by which it has carved out several exceptions to its Circular No. 3 of 2018 dated 11th July 2018 relating to the withdrawal/ non-filing of appeal by the Department in low-tax effect appeals. The CBDT has specified several instances where appeals have to be filed and prosecuted despite their low-tax effect

Bombay High Court’s Tax Bench Constitution w.e.f 20.08.2018

The Tax Bench of the Hon’ble Bombay High Court with effect from 20th August 2018 is as follows

CBDT Directive Reg Acceptance Of Paper Returns For AYs Prior To AY 2018-19

The Additional Director General (Systems) has issued an important directive dated 14th August 2018 with regard to the acceptance of paper returns by ASK Centers for AYs prior to AY 2018-19

CBDT Circular Explains Law On Computation Of S. 10A Deduction

The CBDT has issued Circular No. 4/2018 dated 14th August 2018 in which the law relating to computation of admissible deduction u/s 10A of the Income-tax Act, 1961 has been explained in the light of the judgement of the Supreme Court in CIT vs. HCL Technologies Ltd (2018) 404 ITR 719

Tax Bar Thanks Retiring ITAT Member For Exemplary Service To Cause Of Justice

The Tax Bar has paid rich tribute to an Accountant Member of the Income Tax Appellate Tribunal who retired on 9th August 2018

Tax Bar Mourns Untimely Demise Of Eminent Jurist Palkhivala & Pays Homage

The Tax Bar has mourned the untimely demise of eminent jurist Palkhivala. Leading tax lawyers have recollected his stellar contribution to the development of law and furthering the cause of justice

CBDT Transfers Joint, Additional, Assistant & Deputy Commissioners Of Income-tax

The CBDT has vide Office Orders Nos. 128 and 130 of 2018, dated 7th & 8th August 2018 respectively, ordered the transfers and postings (local changes) of several officers in the grade Joint, Additional, Assistant & Deputy Commissioners of Income-tax with immediate effect and until further orders

CBDT Sleuths Bust Rs. 4300 Cr Black Money & Benami Transactions Scam

The Ministry of Finance has announced that due to intensive efforts undertaken by the Income-tax Department, provisional attachment has been made in more than 1600 cases of properties under the Benami Transactions (Prohibition) Act, 1988. The value of properties under attachment is more than Rs. 4,300 crore. Details are also given of the prosecution proceedings initiated by the Income-tax Department

Book Release: Law, Practice, Procedure and Conventions In The ITAT + Frequently Asked Questions

ITAT Bar Association, Mumbai, and the All India Federation of Tax Practitioners have jointly published a Book titled “Income Tax Appellate Tribunal – A Fine Balance – Law, Practice, Procedure and Conventions – Frequently asked questions”, dedicated to Padmavibhushan Late Dr. N. A. Palkhivala, Sr. Advocate

CBDT Warns AOs To Adhere To Time Limits For Issue Of TDS Certificates U/s 195 & 197

The CBDT has issued an Office Memorandum dated 26th July 2018 in which it is stated that there are several instances where the time-limit of 30 days stipulated in the Citizens Charter for issue of TDS certificates have been breached and there is inordinate delay.

The CBDT has directed AOs that the aforesaid time-limit must be adhered to scrupulously. It is made clear that any delay without valid reasons will be viewed seriously and the CIT concerned will be held accountable

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