Category: Seven Star

Clipped from: https://www.business-standard.com/finance/personal-finance/no-i-t-on-new-flat-received-exchange-for-old-under-section-56-2-x-125041700903_1.html The judgment is likely to benefit prospective homeowners who are planning to exchange their old homes for upgraded accommodations in newly developed residential

Clipped from: https://taxguru.in/income-tax/quantifying-escaped-income-mandatory-reason-recording-stage-itat-delhi.html Vijender Nath Gupta Vs ITO (ITAT Delhi) AO reopened the assessment based on information received from the Investigation Wing, which alleged unexplained high-volume

Clipped from: https://taxguru.in/income-tax/stcg-vs-ltcg-tax-rates-treatment-new-regime-fy-2024-25.html Under the new tax regime for FY24-25, short-term capital gains (STCG) and long-term capital gains (LTCG) on listed equity shares, equity oriented mutual

Clipped from: https://www.financialexpress.com/money/income-tax-returns-ay2025-26-key-documents-required-to-file-itr-3813320/ It is not necessary to attach any documents while filing your returns. However the details given in various documents will have to be

Clipped from: https://www.financialexpress.com/money/filing-itr-soon-can-you-still-pick-a-different-tax-regime-3813616/ Section 115BAC of the Income Tax Act lays down the tax slabs and rules applicable under the new tax regime. As Form 16

https://taxguru.in/income-tax/assessment-declared-invalid-due-service-notice-wrong-address.html clipped from: https://taxguru.in/income-tax/assessment-declared-invalid-due-service-notice-wrong-address.html Dhanottam Vasant Lonkar Vs ITO (ITAT Pune) Conclusion: Notice u/s.143(2) was issued at a wrong/non-existing address and this mistake having been accepted by

lipped from: https://taxguru.in/income-tax/reassessment-u-s-148a-b-initiated-prescribed-time-limit-u-s-149-1-valid.html Chandra Shekhar Vs PCIT (Patna High Court) Patna High Court held that reassessment proceedings under section 148A(b) of the Income Tax Act is

Clipped from: https://taxguru.in/income-tax/amendment-section-143-1-income-tax-1961.html Summary: The Indian government has introduced amendments to Section 143(1) of the Income Tax Act, 1961, as part of its efforts to combat tax

Clipped from: https://taxguru.in/income-tax/tax-loss-harvesting-fy-2025-26-a-smart-reduce-tax-liability.html Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liability by selling securities at a loss.

Clipped from: https://taxguru.in/income-tax/issuance-notice-u-s-148-jurisdictional-assessing-officer-jurisdiction-invalid.html Sharda Devi Chhajer Vs ITO (Rajasthan High Court) Rajasthan High Court held that, in terms of section 151A of the Income Tax Act,

Clipped from: https://taxguru.in/income-tax/delhi-hc-quashes-faceless-assessment-lack-scn-cum-draft-assessment-order.html Akashganga Infraventures India Limited Vs National Faceless Assessment Centre (Delhi High Court) In the case of Akashganga Infraventures India Limited vs. National Faceless Assessment

Clipped from: https://taxguru.in/income-tax/faceless-assessment-invalid-draft-order-served-finalization-gujarat-hc.html Kottex Industries Private Limited Vs National Faceless Assessment Centre (Gujarat High Court) In Kottex Industries Private Limited vs. National Faceless Assessment Centre, the Gujarat

Clipped from: https://www.taxscan.in/bombay-hc-quashes-income-tax-reassessment-over-change-of-opinion-and-no-failure-to-disclose-facts/504935/ The High Court of Bombay, quashed an income tax reassessment proceedings initiated against the assessee for Assessment Year(AY) 2014–15, holding that the reopening was

Clipped from: https://taxguru.in/income-tax/addition-faceless-assessment-scheme-issuance-notice-sustainable.html Saurabh Rohitbhai Modi HUF Vs Addl/Joint/DY./ACIT/ITO National Faceless Assessment Centre or His Successor & Anr. (Gujarat High Court) Gujarat High Court held that addition without

Clipped from: https://taxguru.in/income-tax/time-period-issue-section-148-notice-wef-1-4-2021.html?utm_source=perplexity Time period for issuance of notice under section 148 under new regime wef 1.4.2021. As per substituted section 149 wef 1.4.2021 As per

Clipped from: https://www.taxscan.in/reassessment-u-s-147-on-mere-change-of-opinion-invalid-itat/504240/ In a recent judgement, the Raipur bench of the Income Tax Appellate Tribunal (ITAT)  held that reassessment cannot be done based on a mere change