Reassessment notices issued under an obsolete PAN without considering the assessee’s reply are invalid. Issue Issue I (Reassessment Validity): Whether a reassessment notice issued under Section 148 using an incorrect, obsolete PAN is legally valid when the assessee had already informed the Assessing Officer (AO) of their correct PAN and details during Section 148A(b) proceedings.… Read More »
Flat estimation of 15% net profit on government contracts is unjustified; 7% rate is reasonable. Issue Issue I (Presumptive Taxation / Best Judgment): Whether the Assessing Officer was justified in making an ex-parte best judgment assessment estimating the net profit at a flat rate of 15% on government contractual receipts merely because the turnover exceeded… Read More »
Time-share membership fees can be deferred over the contract period to match future service obligations. Issue Whether an assessee engaged in a time-share business can defer a portion of its membership fees over the contract period to match future maintenance obligations, or if the entire amount must be taxed in the year of receipt. Facts… Read More »
Imparting Arabic and Islamic academic education constitutes charitable educational activity, not restricted religious activity. Issue Whether a charitable trust established to run educational institutions, which also teaches the Arabic language and the tenets of Islam academically to the general public, should be classified as a religious trust and denied registration under section 12AB and approval… Read More »
Sale of plots held as investment for six years yields capital gains, not business income. Issue Whether the sale of 25 plots of land by an assessee engaged in the bar and restaurant business constitutes an “adventure in nature of trade” taxable as business income, or if it should be treated as a long-term capital… Read More »
AAWireless TWO and TWO+ Launch: Native CarPlay and Physical Profile Button 🎛️ The Physical Hardware Fix: Seamless Profile Switching AAWireless. Historically, the biggest headache with wireless automotive dongles occurs in multi-driver households. If two paired users step into the vehicle simultaneously, the adapter typically locks onto whichever phone establishes a handshake sequence first—forcing drivers to… Read More »
Source: Google working on two Pixel Watch 3 sizes Pixel Watch The Evolution of a Hardware Rumor Pixcel Watch, The journey from an unconfirmed insider tip to a retail product sitting on store shelves highlights how accurately early supply chain intelligence maps out modern tech roadmaps: [ Early Insider Leak ] ───► [ FCC /… Read More »
Google Hardware Leaks: Pixel Watch 3 Adds 45mm Size and Pixel Buds Pro 2 Debuts The Pixel Watch 3: Finally, a Larger 45mm Size Options Since the launch of the original Pixel Watch, users with larger wrists have felt alienated by Google’s singular, relatively small 41mm circular chassis. Google is officially introducing a dual-size matrix… Read More »
Why a Late ITR Will KILL Your Home Loan Tax Deductions AY 2026-27 I ITR filing last date HOME Video Summary HOME, This video provides critical guidelines for taxpayers who want to claim tax deductions on home loan interest under the Old Tax Regime for Assessment Year (AY) 2026-27. The main warning highlighted is that… Read More »
The End of the Dongle: Inside the New Google TV Streamer Set-Top Box The Hardware Evolution: Sleek, Low-Profile Tabletops As highlighted in the early design leaks published by 9to5Google, the Google TV Streamer completely rewrites the physical placement rules of television media sticks: [ Legacy Chromecast Dongle ] ───► Dangles out of sight behind the… Read More »