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Addition made on the basis of WhatsApp chat without certificate u/s 65B(4) of the Indian Evidence Act (E-certificate) deleted In a recent judgment, the ITAT Hyderabad has deleted addition made on the basis of WhatsApp Chat without certificate u/s 65B(4) of the Indian Evidence Act (E-certificate) holding that …
Assessee has no control over data base of Income-tax department as reflected in Form No. 26AS – ITAT In a recent judgment, the ITAT Jaipur has held that assessee has no control over the data base of the Income-tax department as is reflected in Form No. 26AS and …
Unless proved that AO used power u/s 142(2A) with mala fide intention, the writ court not to interfere – High Court In a recent judgment, the Hon’ble Jharkhand High Court has held that unless it is demonstrated by producing materials to the satisfaction of the Court that the …
Senior Citizens Welfare Fund to bear 7.15% interest wef 01.04.2023 to 31.03.2024 MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATION New Delhi, the 10th June, 2024 F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of …
Suggestions invited from the Industry and Trade Associations for Budget 2024-25 In the context of formulating the proposals for the Union Budget of 2024-25, the Ministry of Finance has invited suggestions and views from public. Suggestions may be send for changes in the duty structure, rates and broadening …
Notice under Section 148(A)(b) was defective as the assessee was dead earlier to its issuance – Karnataka High Court. In a recent judgment, the Hon’ble Karnataka High Court has held that notice under Section 148(A)(b) was defective on the ground that the assessee was dead earlier to it …
Onus to prove source of source of a loan/borrowing mandatory from AY 2023-24 In a recent judgment, ITAT Raipur has held that under section 68, onus to prove source of source of a loan or borrowing is mandatory w.e.f. 01.04.2023 i.e. from A.Y 2023-24 ABCAUS Case Law Citation:ABCAUS …
Notice u/s 148A(b) giving less than seven days time to submit response quashed In a recent judgment, the Hon’ble High Court of Karnataka has set aside show cause notice u/s 148A(b) giving less than seven days’ time to submit response ABCAUS Case Law Citation:ABCAUS 4085 (2024) (06) HC …
Deduction u/s 54F allowed for residential house purchased in the name of wife – ITAT In a recent judgment, the ITAT Chennai has allowed Deduction u/s 54F for residential house purchased in the name of wife holding that assessee and his wife would have commonality of interest to …
TDS 194IA not applicable if individual share of assessee is less than 50 lakhs in property purchased – ITAT In a recent judgment, the ITAT Indore held that TDS u/s 194IA not applicable if assessee’s individual share of payment was less than 50 lakhs in property purchased. Law …
