Read more at:https://economictimes.indiatimes.com/wealth/legal/will/bank-froze-businessmans-account-over-income-mismatch-now-it-is-asked-to-pay-rs-50000-compensation-hc-explains-why/articleshow/133393897.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Bank account holder to get Rs 50,000 as bank freezed the account on the ground of discrepancy in declared income and amount
*******Cash Deposited by Husband from Disclosed Income Cannot Be Added in Wife’s Hands u/s 69A: ITAT
https://www.taxscan.in/top-stories/cash-deposited-by-husband-from-disclosed-income-cannot-be-added-in-wifes-hands-us-69a-itat-read-order-1450335 The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that cash deposited by a husband in his wife’s bank account cannot be
*******Buyer PAN Not required for Cash Jewellery Sales Below Rs. 2L: ITAT deletes Rs. 13.68cr Addition, says Suspicion cannot Replace Evidence
https://www.taxscan.in/top-stories/buyer-pan-not-required-for-cash-jewellery-sales-below-rs-2l-itat-deletes-rs-1368cr-addition-says-suspicion-cannot-replace-evidence-read-order-1450350 “Suspicion, howsoever strong, cannot take the place of evidence”, heldthe Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT ) deleting the addition of Rs.13.68
*******Income Disclosed after Income Tax Notice issued u/s 148 Notice does not attract Deemed Concealment where Reasonable Cause Exists: ITAT
https://www.taxscan.in/top-stories/income-disclosed-after-income-tax-notice-issued-us-148-notice-does-not-attract-deemed-concealment-where-reasonable-cause-exists-itat-read-order-1450379 The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, deleted the penalty of Rs.55,870 levied under Section 271(1)(c) on the assessee for Assessment Year 2016-17.
Telangana HC Rules Reassessment Proceedings under Income Tax Act Cannot Be Challenged at Preliminary Stage Under Article 226
https://www.taxscan.in/top-stories/telangana-hc-rules-reassessment-proceedings-under-income-tax-act-cannot-be-challenged-at-preliminary-stage-under-article-226-1450398 A division bench of the Telangana High Court ruled that the reassessment proceedings under the Income Tax Act, 1961, cannot be challenged at preliminary
Mere Delay in Furnishing Tax Audit Report Cannot Attract S.271B Penalty When Audit Was Completed in Time: ITAT
https://www.taxscan.in/top-stories/mere-delay-in-furnishing-tax-audit-report-cannot-attract-s271b-penalty-when-audit-was-completed-in-time-itat-read-order-1450412 The Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) deleted Rs. 1.50 lakh penalty under Section 271B, holding that mere delay in furnishing
