Updated ITR forms AY 2024-25 Enabled The option to file updated ITR forms (ITR 1 to 7) for AY 2024-25 is available on the Income Tax portal of India . Please use the respective Excel utility to file the updated returns. rerer
Different between Generative AI and Multimodal AI? in Tabular form Feature Generative AI Multimodal AI Input Data Can be any data type, but typically focuses on a single type (e.g., text, images, code) Processes and generates information from multiple data types (e.g., text, images, audio, video) Output Data Generates new content within the same data… Read More »
GST Demand Order Set Aside for Lack of Personal Hearing: Matter Remanded for Fresh Order Summary in Key Points: Issue: The assessee challenged a demand order (Form DRC-07) issued under the GST Act, claiming that they were not granted a personal hearing as required by Section 75(4). Decision: The High Court set aside the demand… Read More »
16 IMPORTANT CASE LAWS on INCOME TAX 15.01.2025 It seems you’re looking for a concise summary of the provided Income Tax case laws in a tabular format. Here it is: Relevant Act & Section Title Summary Citation Rreference Section 5 of the Direct Tax Vivad Se Vishwas Act, 2020 Finality of Settlement under Vivad Se… Read More »
Addition under Section 69A Deleted for Cash Deposits Not Belonging to the Assessee If an addition under Section 69A is deleted, the corresponding penalty under Section 271AAC should also be deleted. Fact I Section: 69A of the Income-tax Act, 1961 Title: Addition under Section 69A Deleted for Cash Deposits Not Belonging to the Assessee Summary… Read More »
No Penalty Under Section 271D for Accepting Cash for Sale of Agricultural Land Under Bonafide Belief Summary in Key Points: Issue: The assessee received cash payment for the sale of ancestral agricultural land to relatives and faced a penalty under Section 271D for violating Section 269SS (prohibition on accepting certain specified sums in cash). Decision:… Read More »