Denial of Capital gain deduction u/s 54B for agricultural land purchased in the name of wife Supreme Court stays High Court order The Chhatisgarh High Court had denied the benefit of exemption under Section 54B of the Income Tax Act, 1961 where the land was purchased in the …

CIT(A) was justified in considering surrounding circumstances, the normal human conduct of a prudent investor, the probabilities to judge creditworthiness of investors – High Court In a recent judgment, Hon’ble Calcutta High Court has held that surrounding circumstances, the normal human conduct of a prudent investor, the probabilities …

High Court frowns at Provisional attachment orders passed u/s 83(1) GST lifted only their illegality being questioned In a recent judgment, the Hon’ble Allahabad High Court has expressed displeasure over not lifting of Provisional attachment orders passed under section 83(1) of CGST Act and lifted only their illegality …

In Faceless assessment grant of opportunity of personal hearing is not optional at discretion of the Assessing Officer its waiver is an exception to be exercised by the assessee – Allahabad High Court In a recent judgment, Hon’ble Allahabad High Court has held that in Faceless assessment grant …

CBDT Guidelines for compulsory selection of return for compulsory scrutiny during FY 2024-25   CBDT Guidelines for compulsory selection of returns for Complete Scrutiny during the financial year 2024-25 – Procedure for selection   CBDT has issued Guidelines for compulsory selection of return for complete scrutiny during FY …

High Court quashed reopening of assessment on the incorrect presumption that no return of income had been filed Re-assessment order u/s 147 quashed as reopening done on wrong assumption of non filing of return of income. In a recent judgment, Hon’ble Bombay High Court has quashed re-assessment order …