Reopening quashed as AO failed to provide all information and relied upon material available alongwith notice u/s 148A(b) of the Income Tax Act, 1961 (the Act). In a recent judgment, ITAT Delhi quashed notice under section 148 as Assessing Officer failed to comply with the direction given by …

Cash withdrawn from the bank account cannot be considered as unexplained money when the turnover was not disputed – ITAT In a recent judgment, ITAT Jaipur deleted addition under section 69A holding that cash withdrawn from the bank account cannot be considered as unexplained money when the turnover …

Demand quashed as GST, interest and penalty demanded was in excess of the amount specified in the show cause notice issued. In a recent judgment, Hon’ble Allahabad High Court quashed the demand order issued by GST Officials on violation of section 75(7) as the amount of GST, interest …

CBDT appoints 82 ACITs (Probationers) on completion of training at NADT Nagpur. On completion of training at National Academy of Direct Taxes (NADT), Nagpur, CBDT has appointed 82 Assistant Commissioners of Income Tax (ACIT) in Level 10 in various regions with immediate effect.

Transfer Posting in the grade of PrCCIT on promotion. CBDT, on promotion, has ordered the transfer/posting of 19 Pr. Chief Commissioner of Income Tax /Pr. Director General of Income Tax .

Real vs. Notional Income has considerable judicial precedents in terms of directing assessment of only real income and not any notional one – ITAT In a recent judgment, Guwahati ITAT deleted addition made by AO for notional interest income on interest free advances by observing that concept of …