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 …

Approval granted u/s 153D by Additional Commissioner to 21 cases by way of a single letter of approval was mechanical – ITAT In a recent judgment, ITAT Mumbai has quashed the assessments orders holding that approval granted u/s 153D by Additional Commissioner to 21 cases by way of …