Assessment Order can not be passed if the objections filed by the assessee are pending before the DRP – High Court In a recent judgment, the Hon’ble Delhi High Court has held that notwithstanding the lack of information with the AO, if an objection has been filed and …

PCIT exercising revisionary power u/s 263 cannot direct the AO to do again and again enquiry the way the PCIT wants – ITAT In a recent judgment, the ITAT Jodhpur has observed that PCIT exercising revisionary power u/s 263 cannot direct the AO to do again and again …

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 …