Home Highlights February 2013 Year 2013 This

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1. 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...

2. Monetary limit for filing an appeal - ‘Tax effect’ less than the prescribed limit - CBDT has no power of issue any instruction with retrospective effect - SC

3. Binding effect of instruction of CBDT on AO - In view of the guidelines issued by the CBDT in Instruction No.3/2003 the Tribunal was right in observing that by not...

4. Disallowance of SWAP loss under section 37(1) - As for the CBDT instructions, it is only elementary that any instructions issued by the CBDT cannot bind the assessee...

5. Scope of the instructions issued by the CBDT - Exercise of power us/ 119 - A perusal of the said instruction shows that this is practically a search and seizure manual...

6. SVLDRS - rejection on the ground that the demand was not finally quantified nor communicated to the party on or before 30.06.2019 - The Scheme covers not only cases...

7. Circular No. 05/2024, issued by the Central Board of Direct Taxes (CBDT) under section 268A of the Income-tax Act, 1961, introduces measures to reduce litigation in...

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

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

10. Monetary limit for filing an appeal - power of CBDT u/s 119 - the direction issued by the CBDT is binding on all subordinate officers and Section 268A(4) which has been...

11. Conversion of limited scrutiny into complete scrutiny - As per the CBDT instructions, only upon conversion of such case to complete scrutiny after following the...

12. The validity of the scrutiny process was challenged due to the lack of approval obtained by the Assessing Officer from the Jurisdictional Principal Commissioner of...

13. Levy of service tax - Works contract services - demand on the basis of 26AS statements - it is found that the show cause notice was issued in violation of instruction...

14. Employer deducted tax at source from petitioners' salaries but failed to deposit it with the government. Court held that u/s 205 of the Income Tax Act and CBDT...

15. Monetary limit for appeal to the High Court - The appeal involves a total sum of Rs. 60 lakhs, consisting of the redemption fine and penalty. Citing Instructions dated...