Author: administrator
CIT(A) can not dismiss appeal in limine by merely stating the assessment order passed by AO is upheld and that I donot want to interfere with the assessment order In a recent judgment, the ITAT Agra observed that CIT(A) was not justified in dismissing appeal in limine without …
RBI permits four more entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Prevention of Money-laundering Act 2002. MINISTRY OF FINANCE(Department of Revenue) NOTIFICATION New Delhi, the 12th December, 2024 S.O. 5371(E).— In exercise of the powers conferred by sub-section (1) …
ITAT deleted penalty u/s 270A observing that law does not bar or prohibit a person from making a claim, when he knows the matter is going to be examined by the Assessing Officer In a recent judgment, the ITAT Hyderabad deleted the penalty u/s 270A observing inter alia …
Assessment Order can not be passed if the objections filed by the assessee are pending before the DRP – High Court In a recent judgment, the Hon’ble Delhi High Court has held that notwithstanding the lack of information with the AO, if an objection has been filed and …
PCIT exercising revisionary power u/s 263 cannot direct the AO to do again and again enquiry the way the PCIT wants – ITAT In a recent judgment, the ITAT Jodhpur has observed that PCIT exercising revisionary power u/s 263 cannot direct the AO to do again and again …
RBI waives collateral security and margin requirements for agricultural loans including loans for allied activities upto ₹2 lakh per borrower. Presently, the limit for collateral free on agricultural loans is ₹ 1.6 lakh. Keeping in view the overall inflation and rise in agriculture input cost over the years, …
Assessee who is regularly filing income tax returns, would have in possession of certain amount of past savings/accumulated funds – ITAT In a recent judgment, the ITAT Raipur has held that assessee who is regularly filing income tax returns, would have in possession of certain amount of past …
Assessment framed u/s 147 without providing assessee copy of reasons to believe despite specific request was without valid assumption of jurisdiction – ITAT In a recent judgment, the ITAT Raipur has held that assessment framed u/s 147 without giving assessee copy of reasons to believe despite specific request …
Bank Cash Credit / Overdraft account which has not been utilized or availed can not be attached by Income Tax Authorities u/s 226 In a recent judgment, the Hon’ble High Court has held that bank Cash Credit / Overdraft account, which has not been utilized or availed …
Assessee’s contentions of TDS deposit could have been easily verified with help of technology instead of relegating assessee to litigation – ITAT In a recent judgment, ITAT Agra has observed that contentions of the assessee that he as deposited TDS could have been easily verified by the authorities …
