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No decision Taken on Bank Transaction Tax, Govt. examining recommendations received from Chief Ministers’ Panel: Shaktikanta Das
The Government has not taken any decision with regard to the tax on bank transactions, though it has received a set of recommendations from the...
![Appeal Voluntarily withdrawn by the Assessee cannot be restored by stating that Withdrawal was an Error: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Appeal Voluntarily withdrawn by the Assessee cannot be restored by stating that Withdrawal was an Error: Bombay HC [Read Order]")
Mere Failure on part of Assessee to furnish Complete details of Sundry Creditors is not a Sole Ground for Assessment: ITAT Kolkata
In DCIT v. M/s. SPML CISC (JV), the ITAT Kolkata ruled that failure on the part of the assessee to furnish the complete details of sundry creditors alone is not a sufficient ground for completing...
![S. 14A has relevance in the Absence of Exempted Income: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "S. 14A has relevance in the Absence of Exempted Income: ITAT Hyderabad [Read Order]")
Failure to Produce the dealers would not make the Entire Purchases ‘Bogus’ for the purpose of sec 69A: ITAT Mumbai [Read Order]
In Rupesh Chimanlal savla v. ITO, held that a purchase cannot be treated as bogus only because the assessee failed to produce the dealers. Deleting the addition made under section 69A of the Income...
![Failure to Produce the dealers would not make the Entire Purchases ‘Bogus’ for the purpose of sec 69A: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/ITAT-Ahmedabad.jpg "Failure to Produce the dealers would not make the Entire Purchases ‘Bogus’ for the purpose of sec 69A: ITAT Mumbai [Read Order]")
Direct Tax collection upto January is Rs. 5,76,408 crore; Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore
Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore. For the financial year 2017-18, the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore. As per Receipt...
