Clipped from: https://taxguru.in/income-tax/adoption-section-50c-justified-difference-sale-consideration-sale-deed-stamp-adopted-officer.html Ranganath Ashok Meharwade Vs ITO (ITAT Bangalore) ITAT Bangalore held that once the sale consideration mentioned in the sale deed differs from the
Category: ART
1👍👍👍👍👍👍👍Disallowance of deduction u/s. 54F merely due to delay in completion of construction not justifiable
Clipped from: https://taxguru.in/income-tax/disallowance-deduction-u-s-54f-due-delay-completion-construction-justifiable.html Kothari Sanjay Manilal Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that delay in the completion of construction of the house will not be
1👍👍👍👍👍👍👍Income Tax: What is Section 148A notice and what are the new changes brought under Budget 2024? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-what-is-section-148a-notice-and-what-are-the-new-changes-brought-under-budget-2024-441068-2024-08-11 Section 148A of the Income Tax Act allows the Income Tax officers to initiate reassessment proceedings when they suspect that a taxpayer may
1👍👍👍👍👍No more reopening, re-assessment of old ITR beyond 3 years if escaped income is below Rs 50 lakh – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/no-more-reopening-re-assessment-of-old-itr-beyond-3-years-if-escaped-income-is-below-rs-50-lakh/articleshow/111955977.cms Synopsis Re-Assessment of Old ITR: Budget 2024 has brought significant relief as tax authorities are no longer allowed to reopen old income tax
2👍👍👍👍👍👍👍Notice issued u/s. 148 after period of six years for AY 2015-16 is barred by limitation: ITAT Mumbai
Clipped from: https://taxguru.in/income-tax/notice-issued-u-s148-period-years-ay-2015-16-barred-limitation-itat-mumbai.html?form=MG0AV3 ACIT Vs Manish Financial (ITAT Mumbai) ITAT Mumbai held that validity of notice issued under section 148 of the Income Tax Act for
1👍👍👍👍👍👍👍Decoding Tax Dynamics: Unravelling Legal Complexities in Income Tax Reassessment Notices under Section 148, IT Act Post-Finance Act, 2021 | SCC Times
Clipped from: https://www.scconline.com/blog/post/2024/05/15/decoding-tax-dynamics-unravelling-legal-complexities-in-income-tax-reassessment-notices-under-section-148-it-act-post-finance-act-2021/#fn16 Introduction The landscape of the Income Tax Act of 19611 underwent a substantial transformation with the implementation of the Finance Act, 2021 (FA)2, bringing about significant revisions
1👍👍👍👍👍👍👍Indexation benefit admissible even in respect of assets held in foreign countries: ITAT Mumbai
Clipped from: https://taxguru.in/income-tax/indexation-benefit-admissible-respect-assets-held-foreign-countries-itat-mumbai.html DCIT Vs Aarav Fragrances and Flavors Pvt. Ltd. (ITAT Mumbai) ITAT Mumbai held that benefit of cost inflation index admissible as per second
1👍👍👍👍👍👍👍Denial of capital gain exemption u/s 54F for property described in registered sale deed as “Makaan” was justified as having Brick-Kiln construction
Clipped from: https://taxguru.in/income-tax/denial-capital-gain-exemption-u-s-54f-property-registered-sale-deed-makaan-justified-brick-kiln-construction.html Himanshu Garg VS ACIT (Delhi High Court) Conclusion: Tribunal was justified in declining capital gain exemption under Section 54F with respect to a property
1👍👍👍👍👍👍👍Reassessment on basis of Insight Portal Information must be u/s 147/148 if jurisdictional condition u/s 153C was not satisfied
lipped from: https://taxguru.in/income-tax/reassessment-basis-insight-portal-information-u-s-147-148-jurisdictional-condition-u-s-153c-satisfied.html Daisy Distributors Pvt. Ltd. Vs ITO (Delhi High Court) Conclusion: Where jurisdictional condition for AO of assessee to assume jurisdiction under Section 153C was
1👍👍👍👍👍👍👍CIT(A) failed to examine the validity of jurisdiction u/s. 148 hence matter remanded: ITAT Delhi
Clipped from: https://taxguru.in/income-tax/citafailed-examine-validity-jurisdiction-u-s-148-matter-remanded-itat-delhi.html Trinity Touch Pvt Ltd Vs ACIT (ITAT Delhi) ITAT Delhi remanded the matter back to CIT(A) since CIT(A) failed to examined the validity
1👍👍👍👍👍👍👍Fair market value on area allotted under occupancy certificated accepted: ITAT Bangalore
Clipped from: https://taxguru.in/income-tax/fair-market-area-allotted-occupancy-certificated-accepted-itat-bangalore.html ITO Vs Govindappa Jayaram Doddiah (HUF) (ITAT Bangalore) ITAT Bangalore held that CIT(A) rightly accepted the fair market value on the area allotted
AI adoption in India faces challenges such as skills gap, cybersecurity risks, and regulatory uncertainties, hindering implementation and trust. – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/ai-adoption-in-india-faces-challenges-such-as-skills-gap-cybersecurity-risks-and-regulatory-uncertainties-hindering-implementation-and-trust/article68995100.ece The survey, which covered over 4,200 top executives and AI decision-makers, examined AI adoption challenges and opportunities As artificial intelligence becomes all-pervasive transforming
👍Only 6.68% of population filed income tax return in FY24: Govt tells House | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/only-6-68-of-population-filed-income-tax-return-in-fy24-govt-tells-house-124121700768_1.html He further said total number of individuals reporting zero taxable income in their ITRs is 4.90 crore in Assessment Year 2023-24, up from
👍88 mn women screened for cervical cancer under national programme: Govt | Health News – Business Standard
Clipped from: https://www.business-standard.com/health/88-mn-women-screened-for-cervical-cancer-under-national-programme-govt-124121701105_1.html Under the same programme, over 14 crore were screened for breast cancer and more than 26 crore for oral cancer Nearly 56,000 breast
👍HDFC Bank refunds Rs 2.9 Cr to woman in fraud case. Things to keep in mind | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/hdfc-bank-refunds-rs-2-9-cr-to-woman-in-fraud-case-things-to-keep-in-mind-124121600832_1.html HDFC Bank reimbursed Rs 2.9 crore to Meenakshi Kapuria after Rs 3 crore fraud by her relationship manager. The Bombay HC urges RBI
India to be global hub for renewable energy in next 30 years: US Ambassador | External Affairs Defence Security News – Business Standard
Clipped from: https://www.business-standard.com/external-affairs-defence-security/news/india-to-be-global-hub-for-renewable-energy-in-next-30-years-us-ambassador-124121600942_1.html The outgoing ambassador was speaking at the South Asia Women in Energy leadership summit hosted by the US-India Strategic Partnership Forum (USISPF) The
👌👌👌👌👌’800 mn Indians in poverty’: Narayana Murthy calls for hard work, ambition | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/we-indians-have-a-lot-to-do-narayana-murthy-defends-70-hour-workweek-124121600353_1.html Infosys co-founder Narayana Murthy advocates for a 70-hour workweek, urging youth to work hard for India’s progress; underlines the importance of job creation
unitedhealthcare ceo Brian Thompson killed by Luigi Mangione health insurance claim delay similar situation in india अन्यथा : दवा, दुआ, दावा!
Clipped from: https://www.loksatta.com/sampadkiya/columns/unitedhealthcare-ceo-brian-thompson-killed-by-luigi-mangione-health-insurance-claim-delay-similar-situation-in-india-css-98-4767912/ अन्यथा : दवा, दुआ, दावा! काही कारणाने रुग्णालयात दाखल व्हायची वेळ येते तेव्हा अनेकांकडे वैद्यकीय विमा नसतो आणि ज्यांच्याकडे असतो त्यांना आजार परवडला,
Major milestone! UPI hit record 15,547 crore transactions worth Rs 223 lakh crore by November 2024 The Unified Payments Interface (UPI) has processed 15,547 crore transactions totalling Rs 223 lakh crore from January to November this year, as reported b – BusinessToday
Clipped from: https://www.businesstoday.in/technology/news/story/major-milestone-upi-hit-record-15547-crore-transactions-worth-rs-223-lakh-crore-by-november-2024-457353-2024-12-14 UPI’s success can be attributed not only to its robust infrastructure but also to a shift in consumer behavior. Trust in the system
👌👌👌👌👌how to recover accidentally deleted WhatsApp chats: WhatsApp चॅट चुकून डिलीट झाली? रिकव्हर करण्यासाठी ‘हे’ काम करा । Maharashtra Times
Clipped from: https://marathi.indiatimes.com/gadget-news/science-technology/how-to-recover-accidentally-deleted-whatsapp-chats/articleshow/116294533.cms WhatsApp चॅट चुकून डिलीट होते, असं तुमच्यासोबत अनेकदा होत असेल. पण, अशा वेळी काय करावं, हे समजत नाही. कारण, आपल्याकडून चुकून डिलीट झालेली
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