Clipped 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
Category: Seven Star
👍👍👍👍👍👍👍ITAT Jodhpur: Crypto Gains Taxed as LTCG, Allows Section 54F deduction
lipped from: https://taxguru.in/income-tax/itat-jodhpur-crypto-gains-taxed-ltcg-allows-section-54f-deduction.html Raunaq Prakash Jain Vs ITO (ITAT Jodhpur) In the case of Raunaq Prakash Jain vs. ITO, the ITAT Jodhpur addressed the taxation of cryptocurrency
1👍👍👍👍👍👍👍Exemption u/s. 54F admissible in respect of only one residential property: Delhi HC
Clipped from: https://taxguru.in/income-tax/exemption-u-s-54f-admissible-respect-residential-property-delhi-hc.html Kamla Ajmera Vs PCIT (Delhi High Court) Delhi High Court held that in case of investment in two residential properties, exemption under section
👍👍👍👍👍👍👍The legal gaps in India’s unregulated AI surveillance – The Hindu
Clipped from: https://www.thehindu.com/opinion/lead/the-legal-gaps-in-indias-unregulated-ai-surveillance/article68996389.ece There needs to be a comprehensive regulatory framework that addresses AI’s implications for civil liberties In 2019, the Indian government made headlines by
👌👌👌👌👌👌👌The new RBI should revert to old rupee policy to address challenges | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/the-new-rbi-should-revert-to-old-rupee-policy-to-address-challenges-124121700031_1.html In our earlier piece in these pages, we highlighted the unwelcome consequences of the exchange rate policy adopted under the outgoing Reserve Bank
👌👌👌👌👌👌👌Punjab & Haryana HC sets aside order Income Tax SCN issued without following procedure u/s 144 B
Clipped from: https://www.taxscan.in/income-tax-scn-issued-without-following-procedure-u-s-144-b-punjab-haryana-hc-sets-aside-order/466206/ The bench set aside the notice issued by the Jurisdictional Assessing Officer under Section 148 of the Income Tax Act and all consequential
👌👌👌👌👌👌👌Delhi HC Rules Reassessment Based on Insight Portal Information Must Be u/s 147/148, Not Section 153C
Clipped from: https://www.taxscan.in/reassessment-based-on-insight-portal-information-must-be-u-s-147-148-not-section-153c-delhi-hc-read-order/462724/ In a recent ruling, the Delhi High Court ruled that reassessment was initiated based on insight portal information so it must be under
👌👌👌👌👌👌👌Reassessment u/s 147 After Issuance of Intimation u/s 143(1) – An Analysis of Conflicting Decisions – Taxmann
These would be cases where the return is accepted without scrutiny and no formal assessment is made.9 A perusal of the provisions clearly shows that
👌👌👌👌👌👌👌Income Tax on Gifts from Relatives and Friends in India
Clipped from: https://www.taxscan.in/qna-can-i-claim-income-tax-benefits-on-selling-gifted-jewellery-key-questions-on-gift-taxation-in-india-answered/463841/ A: Gifts from relatives are exempted from Tax in India. It is defined under section 56(2)(x) of the Income Tax Act. Gifts from
👌👌👌👌👌👌👌Analysis of Section 45(5A) of Income Tax Act, 1961
Clipped from: https://taxguru.in/income-tax/analysis-section-455a-income-tax-act-1961.html SPECIAL PROVISIONS FOR COMPUTATION OF CAPITAL GAINS IN CASE OF JOINT DEVELOPMENT AGREEMENT [Section 45(5A)] Sub-section (5A) was inserted in section 45 with
👌👌👌👌👌👌👌Dimension to Service of Notices/ Orders Under GST
Clipped from: https://taxguru.in/goods-and-service-tax/dimension-service-notices-orders-gst.html Introduction Service of a notice or an order is an extremely critical event in tax litigation and has been a matter of dispute
👌👌👌👌👌👌👌Re-opening of Assessment: dilemma of opinions!
Clipped from: https://database.taxsutra.com/articles/eceb7adb222b44360f06df5b8b5aa6/expert_article The assessment proceedings, completed under Section 143(3) of the Income-tax Act, 1961 (“Act”), have to be conferred sanctity and any reopening of the
👌👌👌👌👌👌👌Reopening assessment u/s. 147 void-ab-initio as issue already dealt in original assessment
Clipped from: https://taxguru.in/income-tax/reopening-assessment-u-s-147-void-ab-initio-issue-dealt-original-assessment.html DCIT Vs Cadila Pharmaceuticals Limited (ITAT Ahmedabad) ITAT Ahmedabad held that reopening of assessment u/s. 147 on the issue which is already dealt
👌👌👌👌👌👌👌Gifting assets to relatives? Types of assets you can gift, tax rules and more
Gifting assets to relatives? Types of assets you can gift, tax rules and more https://www.msn.com/en-in/money/news/gifting-assets-to-relatives-types-of-assets-you-can-gift-tax-rules-and-more/ar-AA1oCVfe?ocid=msedgntp&pc=DCTS&cvid=b6c7e275bfbc452aa857682003284624&ei=69 Gifting assets to relatives is a way to distribute wealth
👌👌👌👌👌👌👌Delhi HC Rules Reassessment Based on Insight Portal Information Must Be u/s 147/148, Not Section 153C
Clipped from: https://www.taxscan.in/reassessment-based-on-insight-portal-information-must-be-u-s-147-148-not-section-153c-delhi-hc-read-order/462724/ In a recent ruling, the Delhi High Court ruled that reassessment was initiated based on insight portal information so it must be under
👌👌👌👌👌👌👌Validity of Reopening Assessment Beyond Four-Year Limitation Period Hinges on Assessee’s Full Disclosure
https://taxguru.in/income-tax/validity-reopening-assessment-beyond-four-year-limitation-period-hinges-assessees-full-disclosure.html Prime Developers Vs ACIT (ITAT Mumbai) Reopening of assessment beyond four-year limitation period invalid if AO fails to establish failure on the part of
👌👌👌👌👌👌👌Mere change of opinion cannot be a ground for reopening of assessment
https://taxguru.in/income-tax/mere-change-opinion-ground-reopening-assessment.html Konark Life Spaces Vs ACIT (Bombay High Court) The Hon’ble Bombay High Court in Konark Life Spaces v. Assistant Commissioner of Income -Tax and Ors.
👌👌👌👌👌👌👌No further addition if no addition on the grounds for re-opening of assessment
https://taxguru.in/income-tax/addition-addition-grounds-re-opening-assessment.html PCIT CENTRAL -1 Vs Naveen Infradevelopers & Engineers Pvt Ltd (Delhi High Court) In PCIT CENTRAL-1 Vs Naveen Infradevelopers & Engineers Pvt Ltd, the Delhi
👌👌👌👌👌👌👌Absence of Faceless Assessment Invalidates Section 148 notice: P&H HC
https://taxguru.in/income-tax/absence-faceless-assessment-invalidates-section-148-notice-ph-hc.html Vipin Kumar Gupta Vs ITO (Punjab and Haryana High Court) The Punjab and Haryana High Court, in the case of Vipin Kumar Gupta vs. ITO,
👌👌👌👌👌👌👌Reopening assessment u/s. 147 void-ab-initio as issue already dealt in original assessment
https://taxguru.in/income-tax/reopening-assessment-u-s-147-void-ab-initio-issue-dealt-original-assessment.html DCIT Vs Cadila Pharmaceuticals Limited (ITAT Ahmedabad) ITAT Ahmedabad held that reopening of assessment u/s. 147 on the issue which is already dealt in
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