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The Central Government authorises all branches of nineteen banks (except for rural branches) to receive deposits and maintain accounts under the Capital Gains Account Scheme, 1988.

Income Tax Breaking: FM approves 19 More Banks for giving Benefit of Capital Gains Account Scheme

Judgement

The court pointed out that the petitioner is eligible to claim the refund, as a similar issue has been ruled in favour of petitioners in the decisions of the Delhi HC, Madhya Pradesh HC, and Punjab & Haryana HC.

Disabled Army Officer Entitled to Income Tax Refund on Disability Pension With 9% Interest: HC

HC rules SBI was justified in not deducting TDS on LTC payments due to a binding Madras HC interim order; Section 201 proceedings set aside

Kerala High Court Holds SBI Not Assessee-in-Default for Non-TDS on LTC Paid Under Madras HC's Interim Order

The tribunal highlighted that in cases where the additions are made on the basis of third-party data like AIR, the assessee must be given the relevant information to respond properly.

No Assessment on basis of AIR database without giving primary information to Assessee: ITAT

The Gujarat High Court cancels Rs. 3.17 crore penalty, holding that a wrong or debatable tax claim is not “concealment” under Section 271(1)(c).

Gujarat High Court Quashes Rs. 3.17 Crore Penalty; Says Wrong Claim Is Not Concealment

Tribunal sends matter back to AO after assessee produces Auto-Sweep account for the first time, which may alter the core factual findings

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Income Tax Breaking: FM approves 19 More Banks for giving Benefit of Capital Gains Account Scheme

Disabled Army Officer Entitled to Income Tax Refund on Disability Pension With 9% Interest: HC

Kerala High Court Holds SBI Not Assessee-in-Default for Non-TDS on LTC Paid Under Madras HC's Interim Order

No Assessment on basis of AIR database without giving primary information to Assessee: ITAT

Gujarat High Court Quashes Rs. 3.17 Crore Penalty; Says Wrong Claim Is Not Concealment

ITAT Ahmedabad Remands Addition of Rs. 1.70 Crore as Unexplained Investment for Fresh Verification