The judgment is available in the site of taxman publication 2003] 126TAXMAN104 (CHD.)(MAG.) ITAT CHANDIGARH BENCH ‘A’ DEPUTY COMMISSIONER OF INCOME-TAX V. SMITHKLINE BEECHAM CONSUMER BRANDS LTD. VIMAL GANDHI, VICE PRESIDENT AND P.K. BANSAL, ACCOUNTANT MEMBER IT APPEAL NO. 461 (CHD.) OF 1995 MAY 13, 2002 Section 147 of the Income-tax Act, 1961 - Income… (read more)

In Brothers Pharma (P.) Ltd. v. ITO (2016) 45 ITR 154/ [2017] 82 taxmann.com 234 (Jaipur)(Trib.) the Tribunal held that cash payment exceeding prescribed limits (Exceptional circumstances), where assessee paid salary in excess of Rs.20,000, in view of fact that employees insisted upon cash payments only and there was business expediency of assessee to pay… (read more)

Nitco Logistics Pvt. Ltd. v. JCIT (Amritsar)(Trib.) In CIT v. Sarjan Realities Ltd. (2014) 220 Taxman 112 (Mag.)(Guj.)(HC) The court held that the deeming fiction created by Section 50C applicable only to seller and not buyer.Also refer Nitco Logistics Pvt. Ltd. v. JCIT (Amritsar)(Trib.); www.itatonline.org (ITA No 437/ASR /2012 dt 5-9 -2014 However one has… (read more)

: Explanation to section 132 was inserted by the Finance Act , 2017 , w.e.f 1-4-1962 which reeds as under . Explanation – For the removal of doubts , it is hereby declared that the reason to believe , as recorded by the income -tax authority under this sub-section , shall not be disclosed to… (read more)

The assessee must have requested for recording reasons . In the recorded reasons the Assessing Officer must have referred the whether there was search and seizure action against the broker . If there was a search and seizure action against the broker the issue of notice u/ s 148 is bad in law the notice… (read more)

Your observations are correct. The CBDT vide Instruction dated June 23, 2017 expressly mentioned that all scrutiny notices under section 143(2) of the Income-tax Act, 1961 (Act), shall henceforth, be issued in the revised 3 formats only. Further, the system necessary changes were made in the ITBA module in this regard. As per the procedure… (read more)

You may try to up load as annexure . It may be possible . In case if you are not able to do so, You may email in detail the problem relating to New Portal to Shri S.R Wadhwa , Chairman Representation Committee of the All India Federation of Tax Practioners (AIFTP ) who is… (read more)

One has to study the facts of the case . if the Assessing Officer has not given a reasonable opportunity before passing the order, the Assessee may file writ petition before the High Court to quash the Assessment order and pass the fresh order by giving a reasonable opportunity to the assessee. In Calcutta Discount… (read more)

As per section 254 ( 2) the assessee or revenue can make an application for rectification at any time within six months from the end of the month in which the order was passed . Courts have taken the view that , six from the date of from date when assessee got knowledge of order… (read more)

Yes it is desirable to include the agreed addition and also if certain additions were made in the assessment which are not contested in appeal may also be included the return which is to be filed under section 148 of the Act . (read more)