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Important Links


Income disclosure Scheme, 2016

Disclosed undisclosed income / assets - Buy peace for mere 45% of overall tax- Immunity from Penalty / Prosecution

Prefer Link:

http://www.incometaxindia.gov.in/Pages/income-declaration-scheme.aspx

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Bad debts - TRF Limited

Debts written off in the books of account is allowable as deductible as Bad debts U/s 36[1][vii] of the Act

Prefer Link:

https://indiankanoon.org/doc/299099/

Decision Download:

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E- Filing of Appeal

CBDT Circular for Mandatory e-filing of appeal w.e.f 01.03.2016

Prefer Link:

http://www.itatonline.org/info/index.php/cbdt-circular-on-due-date-for-filing-e-appeals-before-cita

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Income on Unrecorded sales

Only net profit can be taxed and not the gross receipt CIT vs Balchand Ajit Kumar 263 ITR 610 [MP}

Prefer Link:

https://indiankanoon.org/doc/1514357/

Decision Download:

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Section 68- Cash Credit

Cash Credit- Loan recei ed from partners cannot be added to the income of the firm when partners accepted about the loans advanced by them to the firm

Prefer Link:

http://indiankanoon.org/doc/885261

Decision Download:

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