Home Highlights January 2012 Year 2012 This

You may also like:

1. 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...

2. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

3. The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

4. Interest u/s 234B - Shortfall in payment of advance tax - TDS was not deducted on the income received by the payer - prior to the financial year 2012-13, the amount of...

5. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

6. Waiver of interest under Section 234B and 234C - Non deduction of TDS by the payer - prior to the financial year 2012-13, the amount of income-tax which is deductible or...

7. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

8. The Appellate Tribunal dismissed the appeal u/s 249(4)(b) due to non-payment of advance tax. The assessee did not respond to the notice u/s 142(1) to clarify tax payment....

9. Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

10. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

11. TDS u/s 195 not deducted on payment to Everest Global Inc. for software training services as source of income located outside India and payment made for services outside...

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

13. Income tax liability of employees - Remission of income tax liability borne on behalf of the employees - it is also possible that earlier years the assessee has not...

14. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

15. Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...