Day: October 11, 2025

*******Karnataka HC quashes Income Tax Reassessment Notices Issued by Jurisdictional Officers Physically, says Faceless Regime Mandatory [Read Order]

Clipped from: https://www.taxscan.in/top-stories/karnataka-hc-quashes-income-tax-reassessment-notices-issued-by-jurisdictional-officers-physically-says-faceless-regime-mandatory-1434522 The Court pointed out that once Parliament, through the Finance Act, 2021, laid down a clear procedure for issuing reassessment notices, the tax

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*******Income tax Reopening Notice Issued within Limitation: Supreme Court Refuses to Interfere with Patna HC Order Dismissing Petition [Read Judgement]

Clipped from: https://www.taxscan.in/top-stories/income-tax-reopening-notice-issued-within-limitation-supreme-court-refuses-to-interfere-with-patna-hc-order-dismissing-petition-1434519 The high court observed that the petitioner’s reliance on Rajeev Bansal was misplaced since that decision dealt with Section 149(1)(b), whereas the present

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*******No Capital Gains Taxable on Mere Execution of Development Agreement Without Transfer of Possession – Section 2(47)(v) Not Attracted: ITAT Hyderabad

Clipped from: https://taxguru.in/income-tax/capital-gains-taxable-mere-execution-development-agreement-transfer-possession-section-2-47-v-attracted-itat-hyderabad.html Srinivas Pampati Vs ITO (ITAT Hyderabad) Both Assessees were joint landowners of 6,380 sq. yds. of land at Karimnagar. On 02.03.2013, they along

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