ITAT justified additions as Father failed to explain why he let out property to daughter at exorbitant low rent.
Atul Chandrakant Kirloskar v. DCIT – [2023] 146 taxmann.com 439 (Pune-Trib.).
CBDT sets up office for operationalising Board of Advance Rulings in Delhi & Mumbai.
Office Order F.No 189/3/2022 – ITA – I, Dated 6-2-2023.
CBDT notifies Centralised Processing of Equivalization Levy Statement Scheme, 2023.
Notification No. 03/2023, dated 7-2-2023.
Section 220 – Income-tax Act does not provide for any precondition for grant of stay of recovery; where a stay application u/s 220(6) has been filed before AO, AO would dispose of same only upon consideration of three factors viz. prima facie case, financial stringency and balance of convenience.
Karangipully Vinothkumar v. Income-tax Officer – [2023] 146 taxmann.com 418 (Madras).
Section 2(15) – Trust running newspaper is not entitled to exemption u/s 11 if ad receipts exceed quantitative threshold imposed by proviso to section 2(15).
Principal Commissioner of Income-tax (Exemptions) v. Servants of People Society – [2023] 147 taxmann.com 79 (SC).
Section 279 – Income-tax Authorities have power to compound offence either before or after institution of proceedings but certainly not after conviction.
Ramesh Jain v. Union of India – [2023] 146 taxmann.com 320 (Madhya Pradesh).