Month: May 2024

Order u/s 148A(d) quashed for non furnishing vital information to assessee to rebut allegation of escapement of income In a recent judgment, the Hon’ble Allahabad High Court has set aside order passed u/s 148A(d) holding that when vital information was not furnished to assessee, due compliance of Section …

Financier taking possession of transport vehicle for non payment of loan is liable to pay road tax from the date of taking possession of the said vehicle  In a recent judgment, the Hon’ble Allahabad High Court has held that a financier in possession of transport vehicle is liable …

Late fee on TDS payments and payment of interest on GST is allowable expenditure u/s 37 of the Income Tax Act – ITAT  In a recent judgment, the ITAT Chennai has held that late fee paid on TDS payments and interest on late payment of GST is allowable …

High Court denies bail to the Income Tax staff involved in Muzaffarnagar tax refund scam  In a recent judgment, the Hon’ble Allahabad High Court has denied bail to the Income Tax staff involved in Muzaffarnagar income tax refund scam  ABCAUS Case Law Citation:ABCAUS 4056 (2024) (05) HC In …

Pr. CIT u/s 263 empowered to review orders passed by JCIT as Section 263 is inclusive one  In a recent judgment, the Hon’ble High Court has held that Section 263 of the Income Tax Act, is inclusive one and include jurisdiction of the Pr.CIT to review the orders …

Deduction u/s 54F despite assessee owning more than two house properties made order erroneous and prejudicial – ITAT In a recent judgment, the Mumbai ITAT has upheld the revisionary order u/s 263 where Assessing Officer (AO) allowed deduction u/s 54F despite assessee owning more than two house properties. …

Merely describing a claim unacceptable or false without affording reasons unacceptable In a recent judgment, the Hon’ble Allahabad High Court has quashed the order passed u/s 73(1) of UPGST Act holding that merely describing a claim as unacceptable or false without dealing the explanation furnished by affording adequate …

Launch of E-Way Bill 2 Portal on 1st June 2024   GSTN has informed inform that NIC is releasing the E-Way Bill 2 Portal (https://ewaybill2.gst.gov.in) on 1st June 2024.   The new portal ensures high availability and runs in parallel to the e-way Bill main portal (https://ewaybillgst.gov.in). The e-way …

AO obliged to consider the response filed by assessee on e-filing portal though belatedly, before passing the final order – High Court In a recent judgment, the Hon’ble High Court of Calcutta has held that once, assessee files response though belatedly, before passing the final order, the assessing …

Cash deposit in bank account belonging to HUF can not be added to the income of individual assessee – ITAT  In a recent judgment, the ITAT Raipur has deleted addition u/s 69A holding that cash deposit in bank account belonging to HUF and disclosed in the return of …