https://www.taxscan.in/top-stories/mere-delay-in-furnishing-tax-audit-report-cannot-attract-s271b-penalty-when-audit-was-completed-in-time-itat-read-order-1450412 The Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) deleted Rs. 1.50 lakh penalty under Section 271B, holding that mere delay in furnishing
Month: August 2026
Woman buys property for Rs 3.5 crore; taxman alleges another Rs 2 crore paid in cash – ITAT says this
https://www.financialexpress.com/money/income-tax/woman-buys-property-for-rs-3-5-crore-taxman-alleges-another-rs-2-crore-paid-in-cash-itat-says-this/4322008/?ref=hometop_hp Buying a property not only involves physical and location checks but also verifying a range of documents. But what happens when a Rs 2 crore cash
Supreme Court acquits bus driver in passenger death case, says followingconductor’s signal is not negligence
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/supreme-court-acquits-bus-driver-in-passenger-death-case-says-followingconductors-signal-is-not-negligence/articleshow/133393736.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/legal/will/supreme-court-acquits-bus-driver-in-passenger-death-case-says-followingconductors-signal-is-not-negligence/articleshow/133393736.cms Recently, the Supreme Court acquitted a bus driver working for Karnataka State Road Transport Corporation (KSRTC) of any wrongdoing after it was found that he did not
RBI’s ‘calibration’ pays off as forex swap inflows hit $72.85 bn; FCNR(B) deposits do heavy lifting
https://www.financialexpress.com/business/rbis-calibration-pays-off-as-forex-swap-inflows-hit-72-85-bn-fcnrb-deposits-do-heavy-lifting-4323325/?ref=hometop_hp Foreign currency inflows mobilised under the Reserve Bank of India’s special dollar-rupee swap facility reached $72.85 billion as of August 21, the central bank’s
*****Additions Made in Intimation U/s 143(1) Cannot Be Challenged in Appeal Against Scrutiny Assessment: ITAT Bangalore
Read more at: https://taxguru.in/income-tax/bengaluru-itat-additions-intimation-u-s-143-1-challenged-appeal-scrutiny-assessment-u-s-143-3.html?utm_source=follow.it Copyright © Taxguru.in Bengaluru ITAT: Additions Made in Intimation U/s 143(1) Cannot Be Challenged in Appeal Against Scrutiny Assessment U/s 143(3) The
*******ITAT Mumbai Allows Section 54F Exemption on House Purchased from Husband
Read more at: https://taxguru.in/income-tax/itat-mumbai-section-54f-exemption-house-purchased-husband.html?utm_source=follow.it Copyright © Taxguru.in ITAT: Rejects Revenue’s Allegation of Colorable Device; upholds Section 54F Exemption on Property Purchased from Spouse Summary: The Mumbai
AI as decision-maker: Consent not enough
https://www.financialexpress.com/opinion/ai-as-decision-maker-consent-not-enough/4322980 Beyond Consent: Why the DPDP Act Leaves Gaps in AI Governance and Algorithmic Decisions By Harsh Walia, Partner, Khaitan & Co With the advent
Your queries on income tax: Construct house within 3 yrs from capital gains to save tax
https://www.financialexpress.com/money/your-queries-on-income-tax-construct-house-within-3-yrs-from-capital-gains-to-save-tax-4322857 l Can I invest the money I get from selling a flat in Jaipur to buy a plot of land in my hometown? I
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Agarwal Industries Pvt Ltd Vs DCIT (Telangana High Court) Background of the Appeal Additions Sustained by the Lower Authorities Appellant’s Submissions Before the High Court
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Summary: The ITAT Nagpur in Nirmal Kumar Agrawal Vs ACIT allowed the assessee’s appeal concerning jewellery found during a search under section 132. The Tribunal considered the
Telangana HC Sets Aside Section 68 Additions on Explained Rs.5.25 Crore Cash Credits
Read more at: https://taxguru.in/income-tax/telangana-hc-sets-section-68-additions-explained-rs-5-25-crore-cash-credits.html?utm_source=follow.it Copyright © Taxguru.in Agarwal Industries Pvt Ltd Vs DCIT (Telangana High Court) Background of the Appeal Additions Sustained by the Lower Authorities
Vokkaligara Thimmaiah Dinesh Kumar Bychanhally Vs ITO (ITAT Bangalore)
Read more at: https://taxguru.in/income-tax/bangalore-itat-deletes-rs-3-31-crore-section-68-addition-journal-entry-not-unexplained.html?utm_source=follow.it Copyright © Taxguru.in Bangalore ITAT Deletes ₹3.31-Crore Section 68 Addition: Journal Entry Recording Pre-existing Assets Is Not Unexplained Cash Credit The assessee,
