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Archive: February, 2025

Posts in February, 2025

No Section 80P(2)(d) deduction on interest income from nationalized bank

February 27, 2025 30 Views 0 comment Print

ITAT Mumbai upheld the disallowance of deductions claimed by Navbharat Urban Co-operative Credit Society under Section 80P(2)(d), treating income as taxable.

Karnataka Police Irresponsibly And Recklessly Booked Arnab: Karnataka HC

February 27, 2025 144 Views 0 comment Print

Karnataka HC quashed a case against Arnab Goswami, calling it reckless and baseless. The court noted misuse of Section 505(2) IPC by Karnataka police

Reassessment Invalid without Fresh Notice when No Addition made on Reopened Issue: ITAT Pune

February 27, 2025 66 Views 0 comment Print

ITAT Pune held that when no addition has been made on account of which the case was reopened, the Assessing Officer cannot make any other addition without issuing a fresh notice u/s 148 of the Act.

Order of cancellation of GST registration was set aside and GST suspended till pending adjudication

February 27, 2025 144 Views 0 comment Print

Assessee challenged the order of cancellation of registration on the ground of not providing an opportunity of hearing as well as such order was passed without assigning any reason for cancellation of the registration of assessee.

ITC couldn’t be denied without specific reasons and clause reference u/s 17(5)

February 27, 2025 327 Views 0 comment Print

The Court emphasized that any denial of ITC should clearly reference the applicable clause under Section 17(5) to allow the taxpayer a reasonable opportunity to contest the claim.

ITAT allows Section 54B Exemption: Partial Agricultural Use Sufficient

February 27, 2025 1197 Views 0 comment Print

ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that partial agricultural use is sufficient.

Section 54F Deduction Cannot Be Denied for Delay in Flat Handover if Compliances Are Met

February 27, 2025 3654 Views 0 comment Print

ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed citing judicial precedents.

Addition of entire bank receipts without verification was unjustified: ITAT Raipur

February 27, 2025 495 Views 0 comment Print

ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examination under natural justice principles.

ITAT Kolkata Sets Aside CIT(A) Order Over Advance Tax & Merit Non-Consideration

February 27, 2025 117 Views 0 comment Print

ITAT Kolkata remands Mohammad Amjad Ali Sahaji’s appeal on advance tax non-payment, directing fresh consideration by CIT(A) with an opportunity for hearing.

Supreme Court Grants NewsClick One Week Relief on Tax Demand

February 27, 2025 261 Views 0 comment Print

SC refuses to hear NewsClick’s plea under Article 32 but grants one week relief against coercive action in income tax case. Petitioners to move High Court.

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