Day: July 9, 2024
Penalty u/s 270A for claiming bogus deductions deleted by ITAT for failure to identify specific Clauses from (a)to (f) of section 270A(9) In a recent judgment, ITAT Pune has deleted penalty u/s 270A for claiming bogus deductions for failure to identify in show cause notice the specific clauses …
Dropped Reassessment proceedings revived by corrigendum on change of opinion without any new material not allowable. In a recent judgment, Hon’ble High Court has held that once dropped Reassessment proceedings revived by corrigendum on change of opinion without any new material not allowable ABCAUS Case Law Citation:ABCAUS 4140 …
For payment of interest on refund of amounts paid as tax is quite different from amount seized from the possession of a person –High Court In a recent judgment, Hon’ble High Court has held that for payment of interest, refund of amounts paid as tax or deemed tax …
Rotations from Auto Sweep A/c not fresh investments-Addition deleted In a recent judgment, ITAT Mumbai has deleted the addition u/s 68 observing that as alleged there were no fresh investments/deposits in bank account except amount along with interest being rotated several times through auto sweep in the current …