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CBDT Circular

NFAC bound to Follow CBDT Circular: ITAT [Read Order]

Rasheela Basheer

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad bench has held that the National faceless Appeal Centre (NFAC) is bound to follow the circulars...

Benefit of CBDT Circular providing Ceiling on Holding of Jewellery can be Extended to Jewellery held...

Revisional Order passed without DIN is violative of CBDT Circular, Invalid: ITAT [Read Order]

Addition on profit to the extent of 6% in Trading & Manufacturing of Diamonds is acceptable as per...

Relief to Tata Medical Centre Trust: Revision Order without mentioning DIN is Void Ab-Initio, rules...

CBDT issues Circular regarding filing of Condonation of Delay in filing Form 9A and Form 10 [Read Circular]

The Central Board of Direct Taxes (CBDT) has issued a Circular in relation to a circular authorizing the Commissioners of Income-tax to admit applications of condonation of delay in filing Form No....

Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable to Cases relating to Information received from Investigation Wing of Dept: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that exception to the Central Board of Direct Taxes (CBDT) circular specifying monetary limit for filing appeals not applicable to...

Depreciation allowable on Toll Collection Rights: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation under section 32 of the Income Tax Act, 1961 is allowable on toll collection rights as the same would be...

30% Depreciation allowable to Motor Lorries used in Business of Transportation of Goods on Hire: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cuttack bench has held that 30% depreciation is allowable to motor lorries in the business of transportation of goods on hire under the provisions of section...

CBDT issues Guidelines for Computation of Exemption in the hands of Abu Dhabi Investment Authority [Read Notification]

The Central Board of Direct Taxes (CBDT) has issued a circular laying down the guidelines for the computation of exemption under section (23FE) of the Income Tax Act, 1961 to provide for exemption to...

Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable If Assessee provides Full Information about Foreign Income: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the exception to the circular issued by the Central Board of Direct Taxes (CBDT) prescribing the monetary limit for...

Private Discretionary Trust is 'AOP', CBDT Circular treating the same as 'Individual' due to Difficulties in E-filing Software can’t be Relied: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the private discretionary trust shall be treated as “AoP” and rejected the plea of the assessee based on the CBDT circular wherein...

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