Penalty u/s 270A for claiming bogus deductions deleted by ITAT for failure to identify specific Clauses from (a)to (f) of section 270A(9) In a recent judgment, ITAT Pune has deleted penalty u/s 270A for claiming bogus deductions for failure to identify in show cause notice the specific clauses …

Dropped Reassessment proceedings revived by corrigendum on change of opinion without any new material not allowable. In a recent judgment, Hon’ble High Court has held that once dropped Reassessment proceedings revived by corrigendum on change of opinion without any new material not allowable ABCAUS Case Law Citation:ABCAUS 4140 …

For payment of interest on refund of amounts paid as tax is quite different from amount seized from the possession of a person –High Court  In a recent judgment, Hon’ble High Court has held that for payment of interest, refund of amounts paid as tax or deemed tax …

Rotations from Auto Sweep A/c not fresh investments-Addition deleted In a recent judgment, ITAT Mumbai has deleted the addition u/s 68 observing that as alleged there were no fresh investments/deposits in bank account except amount along with interest being rotated several times through auto sweep in the current …

Maintenance charges received from tenants taxable under income from other sources not house property – ITAT In a recent judgment, ITAT Bangalore has held that maintenance charges received from tenants are to be assessed under the head Income from other sources and not under income from House Property …

ICAI invites Expression of Interest (EOI) for Empanelment of Faculty / Subject Matter Experts for Self-paced Online Modules. The Institute of Chartered Accountants of India (ICAI) has invited expressions of interest from Chartered Accountants and Professionals, with 10+ years of teaching experience, for recording e-lectures for Self-Paced Online …