Notifications

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statements of Financial Transactions (SFT-2518) relating to Mutual Fund transactions. 


Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statement of Financial Transactions (SFT-2517) relating to depository transactions. 


CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs

Judgement

The CPC passed fresh rectification order and allows remuneration claim after rectification


ITAT Ahmedabad Allows Partner Remuneration Deduction Under Section 40(b) 

The ITAT Ahmedabad once the addition forming the basis of reopening is deleted, no fresh addition on another issue can survive.

ITAT Deletes Section 50C Addition After Reopening-Based Addition Was Deleted

The ITAT Ahmedabad held that mere comparison of year-end investments with six years’ accumulation insufficient to invoke Section 68.

ITAT Holds FDR-Bank Balance Difference Cannot Alone Be Treated as Unexplained Income

The ITAT Ahmedabad rules AO Cannot make fresh addition on an issue unconnected with reasons recorded for reassessment.

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Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs

ITAT Ahmedabad Allows Partner Remuneration Deduction Under Section 40(b)

ITAT Deletes Section 50C Addition After Reopening-Based Addition Was Deleted

ITAT Holds FDR-Bank Balance Difference Cannot Alone Be Treated as Unexplained Income

ITAT Allows Section 80P Deduction to Co-operative Credit Society Where No Addition Made on Reopened Issues