Clipped from: https://taxguru.in/income-tax/section-54f-exemption-allowed-wifes-property-title-itat-deletes-addition-rs-168-55-crore-unexplained-cash-credit.html ACIT Vs Jay Bharat Mehta (ITAT Mumbai) Section 54F Exemption Allowed Despite Wife’s Name on Property Title In this case, the Assessee claimed
Category: Seven Star
*******ITAT Sets Aside NFAC Order for Non-Consideration of Material, Directs De Novo Adjudication
Clipped from: https://taxguru.in/income-tax/itat-sets-nfac-order-non-consideration-material-directs-de-novo-adjudication.html Mahadevan Vs ITO (ITAT Chennai) The case of Mahadevan Vs ITO (ITAT Chennai) pertains to an appeal against an order by the Commissioner of Income
आवश्यक*******Addition due to assessee’s failure to provide documents: ITAT Remands case
Clipped from: https://taxguru.in/income-tax/addition-due-assessees-failure-provide-documents-itat-remands-case.html Germinda Pvt. Ltd. Vs ITO (ITAT Kolkata) The case of Germinda Pvt. Ltd. Vs ITO pertains to the assessment year 2012-13, challenging the addition of
*******ITAT Remands Appeal to CIT(A) for Fresh Adjudication Due to Failure to Address Merits
Clipped from: https://taxguru.in/income-tax/itat-remands-appeal-cit-appeal-fresh-adjudication-due-failure-address-merits.html Selvalakshmi Feeds & Farms Vs ITO (ITAT Chennai) The case of Selvalakshmi Feeds & Farms Vs ITO involved an appeal against the ex parte order
*******No proper opportunity before AO: ITAT remanded back the matter
Clipped from: https://taxguru.in/income-tax/proper-opportunity-ao-itat-remanded-matter.html Virtiben Preyashkumar Shah Vs ITO (ITAT Ahmedabad) Assessment was completed at income of Rs.1,23,18,612/- against the returned income of Rs.3,76,740/- on account of
आवश्यक*******What it means maintaining–consent artefacts-in the context of DPDP Act ?
Maintaining consent artefacts refers to the process of keeping and managing records or documentation that demonstrate an individual’s consent to a particular action, decision, or
आवश्यक*******[FAQs] –DPDP Act)==Courtesy Taxman
Introduction FAQ 1. What is the Digital Personal Data Protection Act (DPDP Act)? The DPDP Act is a legal framework introduced in India to safeguard
आवश्यक*******No addition for LTCG as property transfer u/s 2(47) required verification of buyer possession and receipt of consideration
Clipped from: https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sachin Ramesh Pawar Vs ITO (ITAT Pune) Conclusion: Since assessee’s claims regarding possession and consideration were supported by documents that were not presented before
आवश्यक*******What to expect from DPDP Act? –Courtesy Telagana Today —
After the Union IT Ministry notified the draft rules on data protection law, it sought feedback by February 18. So, here are the Frequently Asked
आवश्यक*******DPDP rules: Parental consent and data localisation shake up big tech in new digital data rules–Courtesy Telangana Today
The draft DPDP rules propose mandatory parental consent for children’s accounts, data localisation requirements, and complex consent management challenges for businesses The draft DPDP rules
आवश्यक*******Assessment Ignoring Indexed Cost of Acquisition Set Aside: Karnataka HC
Clipped from: https://taxguru.in/income-tax/assessment-ignoring-indexed-cost-acquisition-set-aside-karnataka-hc.html Devanur Thimmasetty Srinivasa Vs ITO (Karnataka High Court) Assessment order taking entirety of the sale consideration without taking note of the indexed cost
आवश्यक*******No addition for LTCG as property transfer u/s 2(47) required verification of buyer possession and receipt of consideration
Clipped from: https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sachin Ramesh Pawar Vs ITO (ITAT Pune) Conclusion: Since assessee’s claims regarding possession and consideration were supported by documents that were not presented before
*******Bad economics is corrupting politics, undermining good governance in India | Economy & Policy Analysis – Business Standard
Clipped from: https://www.business-standard.com/economy/analysis/bad-economics-is-corrupting-politics-undermining-good-governance-in-india-125011900471_1.html Economic reformers should not remain beholden to free-market ideologies, corporate lobbies, or the sentiments of fickle stock markets Arun Maira is former member,
*******ITAT Restores Ex Parte Assessment Order U/s.144 Due to Assessee’s Old Age
Clipped from: https://taxguru.in/income-tax/itat-restores-parte-assessment-order-section-144-due-assessees-age.html Vinod Kumar Garg Vs ITO (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi addressed the appeal filed by Vinod Kumar Garg concerning the
*******S.159 applies when reassessment notice was issued during lifetime of deceased assessee
Clipped from: https://taxguru.in/income-tax/s-159-applies-reassessment-notice-issued-lifetime-deceased-assessee.html Late Sh. Lal Chand Verma Vs Union of India & Anr. (Delhi High Court) Conclusion: Sine qua non for acquiring jurisdiction to reopen an
आवश्यक*******Notice issued u/s. 148 after period of six years for AY 2015-16 is barred by limitation: ITAT Mumbai
lipped from: https://taxguru.in/income-tax/notice-issued-u-s148-period-years-ay-2015-16-barred-limitation-itat-mumbai.html ACIT Vs Manish Financial (ITAT Mumbai) ITAT Mumbai held that validity of notice issued under section 148 of the Income Tax Act for
*******A macro tightrope walk: Balancing domestic slowdown, global challenges
Clipped from: https://www.business-standard.com/opinion/columns/a-macro-tightrope-walk-balancing-domestic-slowdown-global-challenges-125011601528_1.html The challenge for macro policy is to respond to the domestic slowdown without appearing to let its guard down against a hostile global
*******Misguided rhetoric on rupee: Clearing doubts on depreciation, RBI action
Clipped from: https://www.business-standard.com/opinion/columns/misguided-rhetoric-on-rupee-clearing-doubts-on-depreciation-rbi-action-125011601556_1.html Let us look at the data. We find out technically that there was a regime shift in terms of movements in the value
*******Beyond compliance: DPDP demands proactive cybersecurity – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/beyond-compliance-dpdp-demands-proactive-cybersecurity/article69104410.ece DPDP: Act now. Protect data. Avoid penalties. This new regulatory landscape also presents businesses with an opportunity to elevate data protection efforts and
आवश्यक*******Beyond compliance: DPDP demands proactive cybersecurity – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/beyond-compliance-dpdp-demands-proactive-cybersecurity/article69104410.ece DPDP: Act now. Protect data. Avoid penalties. This new regulatory landscape also presents businesses with an opportunity to elevate data protection efforts and
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