Read more at: https://taxguru.in/income-tax/pune-itat-rs-10-lakh-addition-deleted-weak-cash-payment-evidence.html?utm_source=follow.itCopyright © Taxguru.in Ashutosh Pandurang Patil Vs ITO (ITAT Pune) Pune ITAT Deletes ₹10 Lakh Addition for Alleged Cash Payment on Flat Purchase
Day: June 26, 2026
*******Pune ITAT: Section 263 Revision Invalid After AO’s Proper Enquiry
Read more at: https://taxguru.in/income-tax/pune-itat-section-263-revision-invalid-aos-proper-enquiry.html?utm_source=follow.itCopyright © Taxguru.in Digital Risk Mortgage Services LLC Vs ACIT (ITAT Pune) Pune ITAT Quashes Section 263 Revision – Once AO Has Conducted
RBI
Mumbai: The Reserve Bank of India has mandated that banks and all other regulated entities must have the ability to instantly override, suspend or deactivate
India’s active credit cards cross 120 million in May
Read more at:https://economictimes.indiatimes.com/industry/banking/finance/banking/indias-active-credit-cards-cross-120-million-in-may/articleshow/132002489.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mumbai: The number of active credit cards in the country crossed 120 million in May, when net additions surged 34% year-on-year to 1.02 million,
RBI proposes AI risk framework for banks
The Reserve Bank of India has released a draft circular proposing a comprehensive risk management framework for AI and machine learning models used by banks,
Household share of bank deposits fall; FCNR(B) push may aid mobilisation
https://www.financialexpress.com/business/banking-finance-household-share-of-bank-deposits-fall-fcnrb-push-may-aid-mobilisation-4274797 https://www.financialexpress.com/business/banking-finance-household-share-of-bank-deposits-fall-fcnrb-push-may-aid-mobilisation-4274797 India’s household deposits fell to 59.3% in FY26 from 63.2% in FY19, as institutional and corporate deposits rose, indicating a shift in banking
Make Indian auditors less of an oddity
Read more at:https://economictimes.indiatimes.com/opinion/et-editorial/only-chronology-mat-samajhiye/articleshow/131999863.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/opinion/et-editorial/only-chronology-mat-samajhiye/articleshow/131999863.cms Synopsis India’s ambition for a globally competitive audit sector faces hurdles, with local firms struggling to match multinational rivals. While protectionist
*******Discrepancy between ‘Loan’ or ‘Purchase Advance’ not justifiable for Addition u/s 69A or Revision u/s 263: ITAT [Read Order]
https://www.taxscan.in/top-stories/discrepancy-between-loan-or-purchase-advance-not-justifiable-for-addition-us-69a-or-revision-us-itat-1448223 Mere discrepancy in classification of a transaction as ‘loan’ or ‘purchase advance’ does not justify an addition under Section 69A of the Income Tax
*****10 silent GST Mistakes That Can Invite Scrutiny Notice
India’s Goods and Services Tax (GST) regime has been highly digitised since its introduction. GST Network (GSTN) has sophisticated data analytics and artificial intelligence, which can identify mismatches in
*******Assessment Held Invalid as Jurisdictional Officer Failed to Issue Mandatory Section 143(2) Notice
https://taxguru.in/income-tax/assessment-held-invalid-jurisdictional-officer-failed-issue-mandatory-section-1432-notice.html?utm_source=follow.it PCIT Vs Nopany & Sons (Calcutta High Court) The Calcutta High Court considered an appeal filed by the Revenue under Section 260A of the
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