CBDT Warns Cash Transactions in excess of Prescribed Limits
The Central Board of Direct Taxes (CBDT) issued an advisory on its official website regarding cash transactions over and above the prescribed limits...
![Govt Stipulates Value of Supply of Lottery Run/ Authorised by State Governments: Amends CGST Rules [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/12/Lottery-Tax-Taxscan.jpg "Govt Stipulates Value of Supply of Lottery Run/ Authorised by State Governments: Amends CGST Rules [Read Notification]")
Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]
The ITAT bench comprising Pramod Kumar (AM) and S. S. Godara (JM) recently confirmed that the sale consideration on agricultural land after its conversion to non-agricultural Land constitutes business...
![Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Sale-Consideration-Business-Income-Taxscan.jpg "Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]")
No Penalty since Notice u/s 274 do not Specify the Charge against Assessee and does not Strike Out the Inappropriate Words: ITAT [Read Order]
The Kolkata bench of ITAT recently held that penalty cannot be levied since show cause notice issued in the present case under Section 274 of the Income Tax Act does not specify the charge against the...
![No Penalty since Notice u/s 274 do not Specify the Charge against Assessee and does not Strike Out the Inappropriate Words: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "No Penalty since Notice u/s 274 do not Specify the Charge against Assessee and does not Strike Out the Inappropriate Words: ITAT [Read Order]")
ITAT Explains the Law on Exemption for Partners’ Share of Profit in the Income of the Firm [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT), in Vinod Agarwal vs Pr.C.I.T.Central, has explained the law on income tax exemption for partners’ share of profit in the income of the...
![ITAT Explains the Law on Exemption for Partners’ Share of Profit in the Income of the Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Partners-Taxscan.jpg "ITAT Explains the Law on Exemption for Partners’ Share of Profit in the Income of the Firm [Read Order]")
