News

The RBI has imposed a Rs 9 lakh penalty on MobiKwik for permitting PPI transfers to non-pre-registered beneficiaries beyond the prescribed time limit and failing to report certain frauds within the stipulated timeframe.

RBI Imposes Rs 9 Lakh Penalty on MobiKwik for Violating PPI and Fraud Reporting Norms

Judgement

The ITAT quashed the assessment against Pioneer Town Planners Pvt. Ltd., holding that the ACIT could not assume jurisdiction without a valid transfer order under Section 127 of the Income Tax Act, 1961.

ITAT Quashes Assessment Order as ACIT Lacked Jurisdiction Without Transfer Order under Section 127 

The ITAT Delhi has held that Assessment based on search material cannot be completed through regular scrutiny proceedings.


ITAT Quashes Assessment Under Section 143(3) Where Search-Related Information Mandated Reassessment 

The ITAT deleted the Section 14A disallowance  due to the absence of exempt income, while directing the AO to re-examine the TDS-related disallowance under Section 40(a)(ia).

ITAT Deletes Rs 12.57 Lakh Section 14A Disallowance as Cooperative Bank Earned No Exempt Income

The ITAT Delhi directs TPO to re-examine functional comparability, filters and operating margins while passing a reasoned order.

 ITAT Remands Transfer Pricing Adjustment for Fresh Examination of Comparables

Articles

Credit cardholders can reduce fraud risks by disabling unused transaction facilities, setting spending limits, enabling transaction alerts and following essential security measures.

Credit Cardholders Beware! Eight Settings Every Cardholder Should Review to Curb Fraud Risk

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