Home Highlights July 2015 Year 2015 This

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1. Extension of due date of filing return of income for Assessment Year 2015-16 in case of Non-corporate & assessee not covered under tax audit provisions - Upto 31st...

2. TP Adjustment - Disallowance of interest paid on ECB loans - the amendment in this proviso was made by the Finance Act, 2015 w.e.f. 01.04.2016 as per which the words...

3. Delay in filing return of income (ITR) - condonation of delay u/s 119 - Refund - the petitioner did submit his return keeping in view Section 139(4) electronically for...

4. Service Tax and Central Excise Annual Returns are not required to be filed for the year 2015-16, which are due to be filed by 30.11.2016.

5. The ITAT Ahmedabad considered rectification u/s 154 for correct assessment year of DDT. Revenue argued DDT pertained to A.Y. 2014-15, but Section 115-O(3) mandates DDT...

6. Late fee levied u/s 234E - delay in furnishing the tax deducted at source statement - Late fee under section 234B cannot be levied for a period up to 01/06/2015. In the...

7. CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

8. Revision u/s 263 - There was an error in the assessment order passed by the A.O. in not bringing to tax the interest income in the year under consideration under the...

9. Reopening of assessment u/s 147 -“cause of action” - jurisdiction to this High Court - Appropriate High Court - The writ applicant has a PAN card at such place. The...

10. Extension of Foreign Trade Policy 2015-2020 till 31.03.2021 - Notification

11. Extension of Hand Book of Procedures 2015-2020 till 31.03.2021 - Public Notice

12. Section 16(4) of the CGST Act imposes a time limit for claiming input tax credit (ITC), restricting it to the due date of filing the return for September following the...

13. When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

14. Refund/adjustment of the amount deposited - The Income Declaration Scheme, 2016 - the respondent Income Tax Department cannot be said to act contrary to its action after...

15. Deduction claimed u/s 11(1)(a) - audit report was filed belatedly - in the assessment year under consideration, viz., AY 2015-16, the requirement under the Act was to...