Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty. CBDT further extends the time for Linking PAN with Aadhaar till 30th June, 2018.

ITAT couldn’t remand matter back to AO if it had all relevant doc. on record to conclude finding

Where there was all relevant documentary evidence available on record to render finding whether assessee a Netherland based company had a permanent establishment in India, Tribunal could not have remanded back matter to Assessing officer for fresh consideration especially when Assessing officer had not discharged burden of proving that assessee had a PE in India.

Refer:[2018] 97 taxmann.com 24 (Bombay)

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