Daily Archives: February 26, 2019

No Income Tax on addition on because of frequent withdrawal and deposit of own money in Bank Account : ITAT

By | February 26, 2019

ITAT Lucknow DCIT Vs Smt. Veena Awasthi   ITA No.215/LKW/2016 Date of Order : 30/11/2018 This appeal preferred by the Revenue emanates from the order of ld. CIT(A)-I, Lucknow dated 29/1/2016 as per following grounds of appeal:- 1. On the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of… Read More »

Allow Interest on refund from beginning of AY even if mistake committed by assesse : HC

By | February 26, 2019

HIGH COURT OF BOMBAY Principal Commissioner of Income-tax-2 v. State Bank Of India AKIL KURESHI AND M.S. KARNIK, JJ. IT APPEAL NO. 1218 OF 2016 JANUARY  4, 2019  Suresh Kumar for the Appellant. Atul Jasani for the Respondent. ORDER 1. The appeal is filed by the revenue to challenge the judgment of the Income Tax Appellate Tribunal “Tribunal” for short” dated… Read More »

No Reassessment if ITR not filed due to Loss from trading in Commodity Exchange :HC

By | February 26, 2019

  HIGH COURT OF BOMBAY Mohanlal Champalal Jain v. Income Tax Officer, Ward 1(2), Thane AKIL KURESHI AND M. S. SANKLECHA, JJ. WRIT PETITION NO. 3629 OF 2018 JANUARY  31, 2019 Devendra H. Jain for the Petitioner. Sham Walve for the Respondent. ORDER 1. The petitioner has challenged a notice of reopening of assessment dated 28.3.2018 issued by respondent No.… Read More »

Allow TRAN 2 to be revised electronically or manually : HC

By | February 26, 2019

Calcutta High Court Optival Health Solutions Pvt Ltd Vs UOI  W.P. No. 18879 (W) of 2018 Dated  07/02/2019 The petitioners have sought for a direction upon the respondents to allow them to revise/rectify their Form GST TRAN 2 electronically or manually. Learned Advocate for the petitioners has submitted that, the first petitioner had obtained registration under… Read More »

4 easy Ways to link PAN with Aadhaar : Last Date is 31st March 2019

By | February 26, 2019

As it is confirmed that no one can file their income tax returns from next year without linking their Permanent Account Number ( PAN ) with Aadhaar card, the taxpayers who have not done the same can do it till 31st March 2019. Recently, the Central Board of Direct Taxes (CBDT) has announced March 31,… Read More »