Important Updates Of Case Laws, Articles And Association News
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Association News
All India Federation of Tax Practitioners announce a series of online lectures on Income Tax Act, 2025 under already Announced Weekly Webinar Series 2025.
📣 Announcement 📢 All India Federation of Tax Practitioners announce a series of online lectures on Income Tax Act, 2025 under already Announced Weekly Webinar Series 2025. Day, Date & Time: Friday, 12th September, 2025 at 5.00 p.m. Sharp Topic: Penalties (Chapter XXI – Clauses 439 to 472 other than... [Read more]
Case Laws
Shree Arihant Oil and General Mills v. UOI (Raj)(HC)
Rajasthan High Court : Central Goods and Services Tax Act, 2017. S. 54 : Refund of tax-Input tax credit-Inverted duty structure- Notification No. 09/2022 dated 13-07-2022 applicable prospectively -Refund cannot be denied for period up to 18-07-2022-Circular restricting refund claims only if filed before 18-07-2022 held arbitrary and violative of Article 14-Refund application filed within limitation period of two… Read More ...
Mumbai Tribunal : S. 151 : Reassessment-Sanction for issue of notice-Notice issued under section 148 with sanction of PCIT instead of JCIT-Survey- Invalid sanction-Assessment held to be null and void. [S. 133A, 143(3), 151(2), 147 , 148] The assessee, engaged in stock broking and financial services, had filed its return which was assessed under section 143(3). Subsequently, on… Read More ...
Mumbai Tribunal : S. 56 : Income from other sources-Immovable property- Purchase consideration-DVO valuation-Difference of 7% within 10% safe harbor-Amendment by Finance Act, 2020 curative and retrospective- Addition deleted. [S. 50C, 56(2)(x)(b)(B)] The assessee, an individual, purchased a property for ₹60,00,000/-. The District Valuation Officer (DVO) valued the property at ₹64,84,000/-, resulting in a difference of ₹4,84,000/-. The… Read More ...
HONBLE ITAT,AGRA SMC BENCH ,AGRA: FOR A MERE TECHNICAL VENIAL BREACH COMMITTED BY THE ASSESSSEE IN FURNISHING THE REQUISITE DETAILS AT THE TIME OF OF ASSESSMENT PROCEEDINGS ,WHICH WERE ULTIMATELY FURNISED SUBSEQUENTLY BEFORE THE COMPLETION OF ASSESSMENT U/S 143(3), NO PENALTY U/S 272A(1)(d) CAN BE LEVIED . Read More ...
Article
CORRESPONDING ANALYSIS OF PENALTY PROVISIONS UNDER THE INCOME TAX ACT, 2025
By Ms. Neelam C. Jadhav Advocate: CORRESPONDING ANALYSIS OF PENALTY PROVISIONS UNDER THE INCOME TAX ACT, 2025 Read More ...
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Editorial Board