Validity of notice issued u/s 263 based on incorrect grounds or unsupported evidence can be questioned – ITAT In a recent judgment, ITAT Ahmedabad has held that validity of a revision notice issued u/s 263 the Income Tax Act, 1961 based on incorrect grounds or unsupported evidence can …

AOP granted benefit of basic exemption limit by the ITAT holding that Maximum Marginal Rate was not applicable. In a recent judgment, ITAT Lucknow has held that AOP was entitled to the benefit of the basic exemption limit which was denied by CPC applying the Maximum Marginal Rate. …

Change of address in PAN Card not result change in Jurisdictional Assessing Officer automatically – High Court In a recent judgment, Hon’ble Patna High Court has held that change of address in PAN data base only facilitates service of notice in the changed address and it does not …

Hardship compensation received from builder not taxable being capital receipt – ITAT  In a recent judgment, ITAT Mumbai has held that hardship compensation received from builder on redevelopment of flat was not taxable being in the nature of a capital receipt. ABCAUS Case Law Citation:4202 (2024) (08) abcaus.in …

Permission to persons resident outside India for purchase of Sovereign Green Bonds in the International Financial Services Centre (IFSC) in India RBI allows permission to persons resident outside India for purchase of Sovereign Green Bonds in the International Financial Services Centre (IFSC) in India. In keeping with the …

RBI has announced Premature redemption date/price for Sovereign Gold Bond 2018-19 VI Series Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on August 12, 2024 (Series VI of SGB 2018-19). RBI has notified 12th August as next due date of premature …