Clipped from: https://www.business-standard.com/finance/personal-finance/rbi-asks-banks-to-uses-tool-that-identifies-phone-numbers-to-curb-fraud-125012400390_1.html Regulator asks financial institutions to use special number series for promotional voice calls The Reserve Bank of India (RBI) has issued new guidelines for banks,
Month: January 2025
*****Weaker rupee seen as boost for exports, but reality is more complex: FIEO | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/weaker-rupee-may-boost-exports-but-challenges-complicate-reality-fieo-prez-125012401292_1.html Explaining it further, he said, that if the rupee depreciates by 2 per cent and the currencies of key competitors decline by 3-5
*****Budget 2025-26: Five key focus areas to accelerate growth amid uncertainty | Expert Views – Business Standard
lipped from: https://www.business-standard.com/opinion/columns/budget-2025-26-five-key-focus-areas-to-accelerate-growth-amid-uncertainty-125012301560_1.html A push to manufacturing through these clusters will help us capitalise on the China-plus-one opportunity presented globally Listen to This Article The Union
*****Echoes of the 1980s: Inflation, wars, and slowing growth resurface globally | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/echoes-of-the-1980s-inflation-wars-and-slowing-growth-resurface-globally-125012401665_1.html The decade was also marked by the so-called “Star Wars”. This was an American effort to bankrupt the USSR by pretending to develop
Ombudsman disposed of 95% of complaints received in FY24, says RBI | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/ombudsman-disposed-of-95-of-complaints-received-in-fy24-says-rbi-125012401605_1.html Complaints against banks and NBFCs represented 82.28 per cent and 14.53 per cent of the total complaints, respectively. Loans, advances formed the largest
*******Mumbai High Court Judgement–Section 87A–Courtesy Mr. Amey Sane
https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sane-Sec 87A – CTC – Bom HC – 24.01.2025
*******Reassessment on issues not considered in Original Assessment is valid: Bombay HC
Clipped from: https://taxguru.in/income-tax/reassessment-issues-considered-original-assessment-valid-bombay-hc.html Sanjay Ratra Vs ACIT (Bombay High Court) In Sanjay Ratra vs. ACIT, the Bombay High Court dismissed a petition challenging reassessment proceedings initiated under
*******Addition u/s. 68 towards bogus LTCG untenable due to lack of adequate evidence
Clipped from: https://taxguru.in/income-tax/addition-u-s-68-bogus-ltcg-untenable-due-lack-adequate-evidence.html Sheela Ashok Bafna Vs ITO (ITAT Mumbai) ITAT Mumbai held that disallowance of claim of exemption u/s. 10(38) on alleged bogus LTCG untenable
*******Addition u/s. 68 not sustained as initial onus of proving identity, creditworthiness and genuineness discharged
Clipped from: https://taxguru.in/income-tax/addition-u-s-68-sustained-initial-onus-proving-identity-creditworthiness-genuineness-discharged.html ACIT Vs Jay Bharat Mehta (ITAT Mumbai) ITAT Mumbai held that addition towards section 68 of the Income Tax Act deleted as assessee
*******Furnishing Reasons at Fag End & Hasty Reassessment Proceedings Unconstitutional: Bombay HC
Clipped from: https://taxguru.in/corporate-law/furnishing-reasons-fag-hasty-reassessment-proceedings-unconstitutional-bombay-hc.html Jayant Avinash Dave Vs ACIT (Bombay High Court) The Bombay High Court ruled in favor of petitioner Jayant Avinash Dave, quashing the reopening
*******Section 54F Exemption Allowed Despite Wife’s Name on Property Title; ITAT Deletes Addition of ₹168.55 crore unexplained cash credit
Clipped from: https://taxguru.in/income-tax/section-54f-exemption-allowed-wifes-property-title-itat-deletes-addition-rs-168-55-crore-unexplained-cash-credit.html ACIT Vs Jay Bharat Mehta (ITAT Mumbai) Section 54F Exemption Allowed Despite Wife’s Name on Property Title In this case, the Assessee claimed
*******ITAT Sets Aside NFAC Order for Non-Consideration of Material, Directs De Novo Adjudication
Clipped from: https://taxguru.in/income-tax/itat-sets-nfac-order-non-consideration-material-directs-de-novo-adjudication.html Mahadevan Vs ITO (ITAT Chennai) The case of Mahadevan Vs ITO (ITAT Chennai) pertains to an appeal against an order by the Commissioner of Income
आवश्यक*******Addition due to assessee’s failure to provide documents: ITAT Remands case
Clipped from: https://taxguru.in/income-tax/addition-due-assessees-failure-provide-documents-itat-remands-case.html Germinda Pvt. Ltd. Vs ITO (ITAT Kolkata) The case of Germinda Pvt. Ltd. Vs ITO pertains to the assessment year 2012-13, challenging the addition of
*******ITAT Remands Appeal to CIT(A) for Fresh Adjudication Due to Failure to Address Merits
Clipped from: https://taxguru.in/income-tax/itat-remands-appeal-cit-appeal-fresh-adjudication-due-failure-address-merits.html Selvalakshmi Feeds & Farms Vs ITO (ITAT Chennai) The case of Selvalakshmi Feeds & Farms Vs ITO involved an appeal against the ex parte order
*******No proper opportunity before AO: ITAT remanded back the matter
Clipped from: https://taxguru.in/income-tax/proper-opportunity-ao-itat-remanded-matter.html Virtiben Preyashkumar Shah Vs ITO (ITAT Ahmedabad) Assessment was completed at income of Rs.1,23,18,612/- against the returned income of Rs.3,76,740/- on account of
आवश्यक*******What it means maintaining–consent artefacts-in the context of DPDP Act ?
Maintaining consent artefacts refers to the process of keeping and managing records or documentation that demonstrate an individual’s consent to a particular action, decision, or
आवश्यक*******[FAQs] –DPDP Act)==Courtesy Taxman
Introduction FAQ 1. What is the Digital Personal Data Protection Act (DPDP Act)? The DPDP Act is a legal framework introduced in India to safeguard
आवश्यक*******No addition for LTCG as property transfer u/s 2(47) required verification of buyer possession and receipt of consideration
Clipped from: https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sachin Ramesh Pawar Vs ITO (ITAT Pune) Conclusion: Since assessee’s claims regarding possession and consideration were supported by documents that were not presented before
आवश्यक*******What to expect from DPDP Act? –Courtesy Telagana Today —
After the Union IT Ministry notified the draft rules on data protection law, it sought feedback by February 18. So, here are the Frequently Asked
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