Category: Income Tax

ITAT set aside Penalty u/s 271B as Tax Audit Report was not filed due to strained relationship with CA In a recent judgment, ITAT Nagpur has set aside Penalty u/s 271B as the assessee could not file Tax Audit Report due to strained relationship with Chartered Accountant. ABCAUS …

Unless request made, personal / oral hearing not mandatory and faceless assessment would be concluded without an oral hearing – Patna High Court Unless request is made, the In a recent judgment, the Hon’ble Patna High Court has held that there is a specific option provided for personal …

Mere technical mistake made by assessee while filing up return cannot be a ground of disallowing the claim when such mistake is curable – ITAT In a recent judgment, ITAT has directed CPC to allow deduction for amount paid as gratuity to LIC trust holding that mere technical …

Denial of Capital gain deduction u/s 54B for agricultural land purchased in the name of wife Supreme Court stays High Court order The Chhatisgarh High Court had denied the benefit of exemption under Section 54B of the Income Tax Act, 1961 where the land was purchased in the …

CIT(A) was justified in considering surrounding circumstances, the normal human conduct of a prudent investor, the probabilities to judge creditworthiness of investors – High Court In a recent judgment, Hon’ble Calcutta High Court has held that surrounding circumstances, the normal human conduct of a prudent investor, the probabilities …

In Faceless assessment grant of opportunity of personal hearing is not optional at discretion of the Assessing Officer its waiver is an exception to be exercised by the assessee – Allahabad High Court In a recent judgment, Hon’ble Allahabad High Court has held that in Faceless assessment grant …

CBDT Guidelines for compulsory selection of return for compulsory scrutiny during FY 2024-25   CBDT Guidelines for compulsory selection of returns for Complete Scrutiny during the financial year 2024-25 – Procedure for selection   CBDT has issued Guidelines for compulsory selection of return for complete scrutiny during FY …

High Court quashed reopening of assessment on the incorrect presumption that no return of income had been filed Re-assessment order u/s 147 quashed as reopening done on wrong assumption of non filing of return of income. In a recent judgment, Hon’ble Bombay High Court has quashed re-assessment order …

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit of TDS – ITAT In a recent judgment, ITAT has held that in absence of mala fide intention bank should not be treated as assessee in default for …

Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain Writ Petition Whether bank account was fraudulently open in the name of assessee is question of fact. AABCAUS Case Law Citation:ABCAUS 3992 (2024) (05) HC In the instant …