Clipped from: https://www.business-standard.com/finance/personal-finance/diwali-gifts-and-shopping-what-you-can-claim-and-what-is-taxable-125101300741_1.html Diwali Gifts Taxable: Here’s a guide on which Diwali gifts and shopping expenses qualify for deductions and which don’t Is Diwali Gift Taxable?
*Income tax disputes stuck in endless loop: Faceless CIT (A)s are issuing repeated notices but no final judgement, preventing taxpayers from taking further action – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-disputes-stuck-in-endless-loop-faceless-cit-as-are-issuing-repeated-notices-but-no-final-judgement-preventing-taxpayers-from-taking-further-action/articleshow/124544337.cms Endless Notices, No Orders: Taxpayers Trapped in Faceless Appeal Limbo The launch of the Faceless Appeal Scheme by Prime Minister, Shri Narendra Modi, in September
*******Karnataka HC quashes Income Tax Reassessment Notices Issued by Jurisdictional Officers Physically, says Faceless Regime Mandatory [Read Order]
Clipped from: https://www.taxscan.in/top-stories/karnataka-hc-quashes-income-tax-reassessment-notices-issued-by-jurisdictional-officers-physically-says-faceless-regime-mandatory-1434522 The Court pointed out that once Parliament, through the Finance Act, 2021, laid down a clear procedure for issuing reassessment notices, the tax
*******Income tax Reopening Notice Issued within Limitation: Supreme Court Refuses to Interfere with Patna HC Order Dismissing Petition [Read Judgement]
Clipped from: https://www.taxscan.in/top-stories/income-tax-reopening-notice-issued-within-limitation-supreme-court-refuses-to-interfere-with-patna-hc-order-dismissing-petition-1434519 The high court observed that the petitioner’s reliance on Rajeev Bansal was misplaced since that decision dealt with Section 149(1)(b), whereas the present
*******No Capital Gains Taxable on Mere Execution of Development Agreement Without Transfer of Possession – Section 2(47)(v) Not Attracted: ITAT Hyderabad
Clipped from: https://taxguru.in/income-tax/capital-gains-taxable-mere-execution-development-agreement-transfer-possession-section-2-47-v-attracted-itat-hyderabad.html Srinivas Pampati Vs ITO (ITAT Hyderabad) Both Assessees were joint landowners of 6,380 sq. yds. of land at Karimnagar. On 02.03.2013, they along
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