CBDT promoted 97 Officers to the grade of Principal Commissioner of Income Tax (PCIT). Also, few transfers and assignment have also been made in the grade of PCIT.
- AO took a reasonable stand that 25 kg written in WhatsApp chat was 25 lakh – ITAT
- Shareholders can’t be taxed for income from properties owned by the company – HC
- Jurisdictional error in reassessment approval can’t be shielded by the law of limitation
- ITAT ought to remanded whole matter of bogus purchases instead of profit determination
- Where proceedings u/s 153C barred by limitation, AO can’t invoke section 148 & 148A
