Day: May 29, 2025

No fault in invoking Revisionary jurisdiction u/s 263 to direct AO to issue correct penalty notice by modifying the reassessment order – ITAT  In a recent judgment, ITAT Ahmadabad has held that the revisionary jurisdiction invoked u/s 263 by directing the Assessing Officer to issue correct penalty notice …

Agricultural land cannot be taken out of the purview of section 56(2)(x) of the Income Tax Act, 1961 (the Act) which uses the term “immovable property”.  In a recent judgment, ITAT Ahmedabad has held that agricultural land cannot be taken out of the purview of section 56(2)(x) of …

Institute of Actuaries of India Expression of Interest for Empanelment of Chartered Accountant Firm for the statutory audit for F.Y. 2025-26 to F.Y. 2027-28 IAI has invited EoI for Empanelment of Chartered Accountant Firm for the statutory audit of Institute for FY 2025-26 to FY 2027-28 IAI is …