Assesse being a partnership firm, engaged in the business as dealer in petroleum products who filed its return at Rs.3,00,950/-. Subsequently the case was selected for limited scrutiny.
In the case abovementioned ITAT have held that there is no need to purchase residential property in own name by any assesseee for the purpose of claim of capital gain u/s 54F.
ITAT Kolkata remands case of Prakash Bhalotia to AO for fresh order, citing lack of opportunity to present evidence in AY 2017–18 case of unexplained cash deposits.
Raj Kumar Agarwal HUF’s appeal against penalty under Section 271(1)(c) dismissed as withdrawn under the Vivad Se Vishwas Scheme, 2024.
Delhi High Court calls for a review of Baggage Rules to address outdated limits on gold jewellery and prevent harassment of genuine air travellers in India.
Andhra Pradesh HC stays ICAI decision to remove a Chartered Accountant accused of fake GST invoicing, providing interim relief pending statutory appeal.
Bombay High Court accepts GST officers’ apology for Mishal J. Shah’s arrest in alleged ITC fraud case. Officers cautioned to follow proper procedures in future arrests.
SEBI proposes Rs. 250 sachetized SIPs to promote financial inclusion in mutual funds. Learn about its features, benefits, and public feedback options.
Learn about shares, DVR conditions, securities premium, and legal exceptions under the Companies Act 2013, with insights into case studies and compliance rules.
Understand foreign income tax compliance, classification, and whether refiling is necessary. Learn key steps to avoid penalties and respond to tax notices accurately.
