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No dis allowance to be made under section 40(a)(ia) upon failure to deduct TDS on payment if payee has offered amount to tax. Second proviso to s. 40(a) (ia) shall operate retrospectively since 01.04.2005 [Case Rajeev kumar agarwal vs. Additional Commissioner of Income tax range 3, ITA No.: 337/Agra/2013, date of pronouncement: 29.05.2013, ITAT – Agra].
Liberalized Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000 [RBI/2013-14/624 A.P. (DIR Series) Circular No.138 dated June 3, 2014].
Exemption under section10 (23-C) (iiiad) even when the assessee had not claimed any exemption under the Section in assessment proceedings under Income Tax Act. [High Court of Allahabad CIT vs. Om Sarla Babu Educational Trust].
Due date U/s 54F for filing return is under section 139(1) and not under section 139(4) under Income Tax Act. [ITO vs Smt. Rosamma Korah (ITAT Cochin)].
Liberalized Remittance Scheme (LRS) for resident individuals-Increase in the limit from USD 75,000 to USD 125,000 [RBI/2013-14/624 A.P. (DIR Series) Circular No.138 dated June 3, 2014].
Exemption under section10 (23-C) (iiiad) even when the assessee had not claimed any exemption under the Section in assessment proceedings under Income Tax Act. [High Court of Allahabad CIT vs. Om Sarla Babu Educational Trust].
Due date U/s 54F for filing return is under section 139(1) and not under section 139(4) under Income Tax Act. [ITO vs Smt. Rosamma Korah (ITAT Cochin)].