CBDT notifies Income-tax return forms (ITR 1-6) for AY 2023-24.
Notification No. 04/2023, Dated 10-2-2023.
AO to release refund beyond 20% of tax demand even if 65% of tax demand adjusted by CPC.
Neo Structo Construction (P.) Ltd. v. ACIT – [2023] 147 taxmann.com 238 (Gujarat).
Section 263 order shall be deemed to have never been issued if it did not contain Document Identification Number.
Dilip Kothari v. Principal Commissioner of Income-tax (Central) – [2023] 146 taxmann.com 442 (Bangalore – Trib.).
Where shares were held by assessee, housing finance company, as stock-in-trade, dividend earned on said shares would not attract section 14A.
Principal Commissioner of Income-tax v. M/s PNB Housing Finance Ltd. – [2023] 146 taxmann.com 445 (Delhi).
HC directs Dept. to pay interest @ 6% for wrong encashment of bank guarantee.
LM Wind Power Blades (India)(P.) Ltd. v. Union of India – [2023] 147 taxmann.com 114 (Karnataka).
GST is not leviable on vouchers being in the nature of instruments.
Premier Sales Promotion (P.) Ltd. v. Union of India – [2023] 147 taxmann.com 85 (Karnataka).
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).