Latest updates for Harigovind V Acit

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Recent items include:

  • Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:
  • Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Del
  • Madras HC Rejects Bogus LTCG Allegation Based on Sharp Jump in Share Price, Restores Section 10(38) Exemption

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thetaxtalk.com /3 weeks ago

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier: ITAT Bangalore   Landmark Ruling Clarifies That the Date of...

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thetaxtalk.com /1 month ago

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Del...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Delay in Filing Form 10-IC   A Landmark Judgment on “Genuine Ha...

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blog.saginfotech.com /5 days ago

Madras HC Rejects Bogus LTCG Allegation Based on Sharp Jump in Share Price, Restores Section 10(38) Exemption

The Madras High Court, in a recent ruling, allowed income tax exemption u/s 10(38) of the Income Tax Act, 1961, observing that a mere sudden surge in the share price does not make...

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thetaxtalk.com /1 month ago

Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction

Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction   AO Cannot Simply Copy the Satisfaction Note of the Searched Pers...

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thetaxtalk.com /1 month ago

Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms...

Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms Abhisar Buildwell Principle   PCIT v. Surendra L. Hiranandan...

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realty.economictimes.indiatimes.com /1 week ago

ITAT rules tax officer cannot pin entire stamp-value gap on one co-owner

The Mumbai ITAT stated that one co-owner cannot be held accountable for the total tax discrepancy. The tribunal highlighted that the ownership shares had been explicitly recorded....

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blog.saginfotech.com /3 weeks ago

Allahabad HC: Objections to Draft Assessment Order Must Be Filed Before Both DRP and AO

The Allahabad High Court at Lucknow has said that objections to a draft assessment order u/s 144C of the Income Tax Act, 1961, should be submitted before the Dispute Resolution Pan...

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blog.saginfotech.com /1 month ago

Madras HC Quashes GST Order Against IRFC Over Reverse Charge and ITC Dispute

The Madras High Court has cancelled a tax assessment and a follow-up recovery notice issued to the Indian Railway Finance Corporation Limited (IRFC). The court found that the offic...

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thetaxtalk.com /1 week ago

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore   Substantial investment in construction of a residential house is enough where the assessee establ...

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thetaxtalk.com /1 month ago

Assessment in the Name of a Deceased Person Is a Nullity: ITAT Allows Legal Ground Even If Not Raised Before CIT(A)

Assessment in the Name of a Deceased Person Is a Nullity: ITAT Allows Legal Ground Even If Not Raised Before CIT(A)   Ahmedabad ITAT Reaffirms That Jurisdictional Defects Can Be Ra...

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blog.saginfotech.com /1 month ago

Madras HC Upholds GST Demand Order, Rules ITC Claim Based on Fabricated Agreement Invalid

The Madras High Court on 30 June said that Input tax credit (ITC) could not be claimed on the grounds of a fabricated contractual arrangement, where the agreement and related invoi...

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thetaxtalk.com /2 weeks ago

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur   Where agreement to sell was executed before section 43CA came into force and substantial c...

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realty.economictimes.indiatimes.com /5 days ago

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...

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thetaxtalk.com /1 month ago

Legal Heir Is Not Always the Legal Representative: ITAT Agra Quashes Assessment Passed Without Proper Compliance Under S...

Legal Heir Is Not Always the Legal Representative: ITAT Agra Quashes Assessment Passed Without Proper Compliance Under Section 159 Keywords: legal heir vs legal representative, Sec...

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blog.saginfotech.com /1 month ago

Delhi ITAT Rules AO Can’t Consider Fresh Capital Gains Deduction Claim Made in the ITR

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer (AO) lacks jurisdiction to entertain fresh capital gains deduction claims raised sol...

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blog.saginfotech.com /4 weeks ago

Bengaluru ITAT: Fresh Tax Demand Cannot Be Raised Through Computation Sheet After Returned Income Is Accepted

The Income Tax Appellate Tribunal (ITAT), Bengaluru Bench, has held that the Income Tax Department cannot create a fresh tax demand through a computation sheet or Section 156 notic...

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blog.saginfotech.com /1 week ago

Delhi ITAT Restricts Reopening of Assessment Years Beyond Prescribed Period in Search Cases

The Delhi Income Tax Appellate Tribunal (ITAT) has made a significant ruling regarding the jurisdiction of assessing officers under Section 153C of the Income Tax Act, 1961. The tr...

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blog.saginfotech.com /1 week ago

Jaipur ITAT Allows Section 201(1) Relief Despite Manual Filing of Form 26A

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) said that manual filing of a Chartered Accountant-certified Form 26A rather than electronic filing is only a procedural...

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blog.saginfotech.com /2 days ago

Delhi HC Waives Service Tax Penalty, Holds Bona Fide Belief in Non-Taxability a Reasonable Cause u/s 80

The Delhi High Court has mentioned that a bona fide and reasonable presumption of non-taxability constitutes a reasonable cause u/s 80 of the Finance Act, 1994, especially when the...

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thetaxtalk.com /1 week ago

Surrendered Excess Stock Cannot Be Used for Ad Hoc GP Addition: ITAT Delhi

Surrendered Excess Stock Cannot Be Used for Ad Hoc GP Addition: ITAT Delhi GRP Auto ruling highlights an important principle: excess stock found during survey must be properly acco...

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realty.economictimes.indiatimes.com /1 month ago

Redevelopment agreement not a property receipt, so not taxable: ITAT

Mumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse provisions. The tribunal allowed a taxpay...

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businesstoday.in /1 month ago

Can third-party documents alone trigger a tax demand? ITAT explains when the Income Tax Department can act

A recent ITAT ruling has clarified that the Income Tax Department cannot raise a tax demand solely on the basis of documents recovered from a third party without independent eviden...

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thetaxtalk.com /1 month ago

Can Income Tax Additions Be Made Solely on Third-Party Evidence? ITAT Mumbai Says No – A Landmark Judgment Every Taxpaye...

Can Income Tax Additions Be Made Solely on Third-Party Evidence? ITAT Mumbai Says No – A Landmark Judgment Every Taxpayer Must Know   Keywords: Third-party evidence under Income Ta...

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thetaxtalk.com /1 month ago

Refund Cannot Be Denied for Mere Technical Lapse: ITAT Invokes Article 265 to Protect Taxpayer’s Rights

Refund Cannot Be Denied for Mere Technical Lapse: ITAT Invokes Article 265 to Protect Taxpayer’s Rights     Once Delay in E-Verification Is Condoned, Revenue Cannot Retain Tax That...

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blog.saginfotech.com

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realty.economictimes.indiatimes.com

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thetaxtalk.com

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businesstoday.in

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