Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department   In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …

Time limit for issue of notice u/s 143(2) is from the date of filing of original return of income – ITAT In a recent judgment, ITAT Delhi has held that time limit for issue of notice u/s 143(2) has to be considered for date of filing of original …

Two flats on two different floors not a single dwelling unit – ITAT rejects exemption u/s 54 In a recent judgment, ITAT Delhi has rejected the claim of capital gain exemption u/s 54 holding that two flats on two different floors can not be considered as a single …

ITD to provide link to assessee to file appeal with new PAN when assessment order was passed in old PAN – High Court In a recent judgment, Hon’ble Kerala High Court directed Income Tax Department to provide a link in to assessee to file appeal in e-portal with …

Non deposit of tax deducted by deductor – ITAT directs AO to take action against deductor and tax credit allowed to assessee In a recent judgment, ITAT Cochin has given an important judgment on the issue of non credit of TDS due to mismatch with Form 26AS where …

RBI urges banks to reduce number of inoperative frozen accounts enabling mobile / e-KYC RBI urges banks to bring down the number of inoperative frozen accounts enabling updation of KYC through mobile/internet banking, Video Customer Identification Process, etc.  As per RBI existing guidelines banks are required, among other …