Clipped from: https://taxguru.in/income-tax/reassessment-quashedao-lacked-jurisdiction-faceless-regime-section-151a.html Vanitha Govindappa Vs ITO (Karnataka High Court) Karnataka HC quashes reassessment for AY 2020-21 as AO acted beyond scope of Section 151A; Revenue
Author: Anil R Tikotekar
मी यापूर्वी बँक ऑफ महाराष्ट्र मध्ये क्षेत्रीय अधिकारी म्हणून काम करत होतो. मुंबई, पुणे, सोलापूर, कोल्हापूर व लातूर येथे काम करण्याचा अनुभव आहे . १६ वर्षे मनेजर म्हणूनही काम केले आहे तसेच बँक ऑफ महाराष्ट्र मधील ट्रेनिंग कॉलेज मध्ये शिकवण्याचा देखील अनुभव आहे. माझा इमेल aniltikotekar@gmail.com असा आहे. माझी website अजून चांगली कशी होईल याबाबत सूचनांचे स्वागतच आहे. कोणत्याही आर्थिक फायदा मिळवावा अशा हेतूने ही website सुरु केलीली नाही याची नोंद वाचकांनी घेणे गरजेचे आहे. तसेच या संकेतस्थळावर दिला गेलेला सल्लाअमलात आणण्याआधी आपल्या आर्थिक बाबी माहित असण्याऱ्या व्यक्तींचा [ जसे की CA ] सल्ला घ्यावा. समाजातील काही घटनांना थोडीशी जरी मदत झाली तरी हा प्रयत्न थोडाफार तरी यशस्वी झाला असे म्हणता येईल.
*******Insurance Company Reassessment Quashed: Notices Invalid for Section 151A Breach
Clipped from: https://taxguru.in/corporate-law/insurance-company-reassessment-quashed-notices-invalid-section-151a-breach.html PNB MetLife India Insurance Company Limited Vs ACIT (Karnataka High Court) Karnataka HC quashes reassessment notices issued to PNB MetLife – follows Ramachandra
*******Reassessment Quashed: Karnataka HC Rules AO Exceeded Jurisdiction Under Section 151A
Clipped from: https://taxguru.in/income-tax/reassessment-quashed-karnataka-hc-rules-ao-exceeded-jurisdiction-section-151a.html Muyeen Pasha Vs ITO (Karnataka High Court) Karnataka HC Strikes Down Reassessment for Exceeding Jurisdiction under 151A; Leaves Door Open for Revival if
*******Faceless Reassessment Quashed: Notices Issued Beyond Section 151A Scope
Clipped from: https://taxguru.in/corporate-law/faceless-reassessment-quashednotices-issued-section-151a-scope.html Navnidhi Infrastructure Private Limited Vs DCIT (Karnataka High Court) Karnataka HC quashes reassessment notices issued beyond Section 151A mandate — grants liberty to
*******Precision in Penalty: Why Misreporting Must Be Pinpointed Under Section 270A
Clipped from: https://taxguru.in/income-tax/precision-penalty-misreporting-pinpointed-section-270a.html 1. Introduction Section 270A of the Income Tax Act, 1961, introduced by the Finance Act, 2016, marked a paradigm shift in the penalty
ITAT Delhi Quashes 153C Assessment – One Approval for Two Years Held Invalid
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashes-153c-assessment-one-approval-two-years-held-invalid.html Vivaan Prakash Vs DCIT (ITAT Delhi) Delhi Tribunal quashed the 153C assessment, holding that the approval u/s 153D issued by Addl. CIT, Lucknow,
No Change of Opinion When Issue Never Examined – ITAT Delhi Upholds Reopening
Clipped from: https://taxguru.in/income-tax/change-opinion-issue-examined-itat-delhi-upholds-reopening.html Jain Textile Industries Vs ACIT (ITAT Delhi) Delhi ITAT dismissed Assessee’s appeal, holding that reopening u/s 147 was valid as the issues of
Clipped from: https://www.business-standard.com/immigration/h-1b-visa-system-spammed-with-fraud-white-house-backs-trump-s-fee-hike-125102400304_1.html The White House has defended Donald Trump’s $100,000 H-1B visa fee hike, calling it a move to protect American workers as lawsuits challenge
*Why your bank deposits, withdrawals high value transactions are under Tax Dept’s lens – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/why-your-bank-deposits-withdrawals-high-value-transactions-are-under-tax-depts-lens-499489-2025-10-24 Frequent or high-value transactions in savings accounts are increasingly being tracked by the Income-tax Department, as data-driven monitoring systems flag inconsistencies between declared
*****All your queries related to Income Tax answered here – Details inside – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/all-your-queries-related-to-income-tax-answered-here-details-inside-2-4020775/ You can get tax break on home renovation loan Will a loan under home renovation qualify for tax break under Section 80C and
*****Credit Card Payments Treated as Unexplained Investment u/s 69C:ITAT Deletes ₹21.69 Lakh Addition
Clipped from: https://www.taxscan.in/top-stories/credit-card-payments-treated-as-unexplained-investment-us-69citat-deletes-2169-lakh-addition-1435144?transaction_id=sekwZRSUCADPkuxhkEFMSkWGACZDWDMKuHhkVFlhwJhMEDFCiMCkJiUPbMsasH&link_id=3089477 The assessee had successfully explained the source of all credit card payments. The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the
Diwali gift tax rules: He got Diwali gifts worth Rs 2.21 lakh — then a Rs 33,000 tax shock – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/diwali-gift-tax-rules-he-got-diwali-gifts-worth-rs-221-lakh-then-a-rs-33000-tax-shock-499220-2025-10-22 Under income tax laws, gift taxation depends on the giver and the total value received in a financial year. Gifts from close relatives
Section 87A Rebate Confusion: CIT(A) Approves STCG, CBDT Says No
lipped from: https://taxguru.in/income-tax/section-87a-rebate-confusion-cita-approves-stcg-cbdt-says-no.html Section 87A on Special-Rate Income: CIT(A) Allows but CBDT Says No – What Should Taxpayers Really Do? A Confusing Fortnight for Taxpayers Within
*****Capital Gains Taxable in Year of Possession, Not Registration: ITAT Mumbai
Clipped from: https://taxguru.in/income-tax/capital-gains-taxable-year-possession-registration-itat-mumbai.html Maimoon Fashion Accessories Pvt. Ltd. Vs ITO (ITAT Mumbai) Background: Maimoon Fashion Accessories Pvt. Ltd. (“the assessee”) appealed before the ITAT Mumbai against the
GST Liability Cannot Be Deferred Due to Non-Reimbursement by Government Department: Madras High Court Allows Installment Relief to Contractor [Read Order]
Clipped from: https://www.taxscan.in/top-stories/gst-liability-cannot-be-deferred-due-to-non-reimbursement-by-government-department-madras-high-court-allows-installment-relief-to-contractor-1435296?transaction_id=cvbGzMSUCAdlbdhXawFMSKGGaSzDwuMKuhxagFlHwJGMvuFsiMcbJiuqbMCACH&link_id=3082976 The Court relied on the 47th GST Council Meeting Minutes revising the rate from 12% to 18%. The Bench of the Madras High
How Much Can a CA Charge for a Tax Audit? Know ICAI’s Minimum Fee
Clipped from: https://www.taxscan.in/how-much-can-a-ca-charge-for-a-tax-audit-know-icais-minimum-fee/511311?transaction_id=cvbGzMSUCAdlbdhXawFMSKGGaSzDwuMKuhxagFlHwJGMvuFsiMcbJiuqbMCACH&link_id=3082984 X CA tax audit fees – ICAI fee – Minimum CA charges – Taxscan CA tax audit fees – ICAI fee – Minimum
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