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Archive: 15 February 2025

Posts in 15 February 2025

Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

February 14, 2025 3756 Views 0 comment Print

Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.

ITAT Jaipur Orders Fresh Hearing in Undisclosed Income Ex Parte Case

February 15, 2025 18 Views 0 comment Print

ITAT Jaipur remands Jai Prakash Sharma’s case for fresh hearing after CIT(A) added ₹12,06,189 as undisclosed income due to non-compliance in earlier proceedings.

AP VAT Act: Suppression & Wilful Evasion Essential to Invoke Section 21(5), Rules HC

February 15, 2025 24 Views 0 comment Print

Andhra Pradesh HC rules VAT assessment against Chakkas Enterprises invalid, citing lack of evidence for tax evasion under Section 21(5). Bank attachment revoked.

Understanding the New HSN Code Reporting Rules for GSTR-1

February 15, 2025 39 Views 0 comment Print

The government has introduced mandatory reporting of Harmonized System of Nomenclature (HSN) codes in Table-12 of GSTR-1 to enhance tax compliance and transparency. As per Notification No. 78/2020 – Central Tax, dated October 15, 2020, businesses must report 4-digit or 6-digit HSN codes depending on their Aggregate Annual Turnover (AATO) from the previous financial year. […]

Highly Educated Wives Cannot Remain Idle Just To Claim Maintenance From Husbands: Orissa HC

February 15, 2025 48 Views 0 comment Print

Orissa HC rules highly educated wives with job prospects cannot claim maintenance by avoiding work, reducing maintenance from ₹8000 to ₹5000 per month.

Telangana HC Sets Aside Non-Speaking Income Tax Stay Orders

February 15, 2025 51 Views 0 comment Print

Telangana High Court quashes non-speaking income tax stay orders for AY 2022-23, remanding the case for fresh consideration per legal guidelines.

ITAT Mumbai Allows 80P(2)(d) Deduction on Co-op Bank Interest to Co-op societies

February 15, 2025 42 Views 0 comment Print

ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative banks, overturning prior disallowance.

Section 80G Approval: Error in Application Clause – ITAT Mumbai Remands for Reconsideration

February 15, 2025 27 Views 0 comment Print

ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back for reconsideration.

ITAT Ranchi Allows Withdrawal of Appeal Under VSV Scheme

February 15, 2025 51 Views 0 comment Print

ITAT Ranchi permits Gajanand Bhalotia to withdraw appeal as he opts for the Vivad se Vishwas Scheme, with an option for restoration if settlement fails.

Demonetization Cash Deposit Addition Unsustainable on Mere Suspicion: ITAT Chennai

February 15, 2025 36 Views 0 comment Print

ITAT Chennai overturns AO’s Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unexplained investment during demonetization.

Orissa HC Orders Release of Bank Guarantee in GST Case

February 15, 2025 99 Views 0 comment Print

Orissa High Court directs the release of a bank guarantee furnished by Narayan Sahu after the demand and penalty order against the consignor was set aside.

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