Home Highlights June 2011 Year 2011 This

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

2. Setting up of the Office of the Commissioner (Investigation-Customs) created under CBIC-regarding

3. Unexplained cash credits u/s.68 - Penny stock purchases - The modus operandi involving operators, intermediaries and the beneficiaries have already been detailed in the...

4. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

5. Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

6. CBDT notifies new Income Tax Return Forms for AY 2017-18 - Circular

7. Rollback of an Advance Pricing Agreement - Income-tax (Third Amendment) Rules, 2015 - CBDT issues Notification

8. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

9. The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

10. Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the...

11. Framing of charges - Owning of assets disproportionate to known sources of income - Prevention of Corruption Act, 1988 - Case against the Additional Chief Architect in...

12. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

13. The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

14. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

15. Guidelines for conducting investigation in certain cases - The Directorate General of GST Intelligence (DGGI), in its recent directive dated 08.02.2024, sets forth...