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LAND SOLD TAX NOTICE
Sold land for Rs 7.24 crore, paid no tax, received income tax notice; Know how Google Earth photos and revenue records helped taxpayer to win this case in ITAT AhmedabadFamily member sold his 1/3rd share of agricultural land for Rs 7.24 crore, pays no tax, tax dept sent notice, he wins case in ITAT Ahmedaba...- Sold property for Rs 94 lakh despite a stamp value of Rs 1.93 crore, received an income tax notice under Section 50C; ITAT Chennai grants relief for this reasonChennai man sold property for Rs 94 lakh despite Rs 1.93 crore stamp duty value; so tax dept sent notice u/s Section 50C to tax the differe...
- Govt introduces bill in LS to restrict state taxes on mineral rightsThe Centre has launched a new bill to limit state taxation on mineral rights, aiming to centralize authority over selected mineral-rich are...
- Pilot disoriented by laser light, flight circles mid-air before landing at Kolkata airportA Malaysia Airlines flight carrying 159 passengers was forced to circle before landing at Kolkata airport after a laser beam reportedly fla...
- Wife sold Rs 25 Pepsi for Rs 26, husband faced criminal case for 13 years; Bombay HC quashes case against him for this reasonFor selling 600ml Pepsi at Rs 26 instead of Rs 25 MRP, husband working in wife’s shop faced criminal prosecution; Bombay HC quashes case as...
- 6 reasons you may get income tax notice even after meeting July 31 ITR filing deadlineFiling your income tax returns punctually doesn't guarantee immunity from tax department notices. Often, discrepancies arise between report...
- Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains whyRetired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as ta...
- Can you get income tax notice for making digital payments through UPI, NEFT, RTGS, and IMPS? Know when it can be triggeredDigital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transactions do not match your declared inc...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- DLTA seeks Rs 39 crore from AITA Trust as former chairman Anil Khanna faces scrutiny over land dealsThe Delhi Lawn Tennis Association accuses Anil Khanna of fraud. Khanna allegedly diverted stadium rental revenue to the AITA Trust. Land tr...
- Filed your ITR? Here's how to check for notices and avoid costly penalties
- Manish Tewari submits adjournment notice in Lok Sabha seeking discussion on new anti-defection law to curb opportunistic mass defectionsCongress MP Manish Tewari sought to suspend parliamentary business for urgent discussion. He proposed a new anti-defection law to curb oppo...
- Rs 22.94 lakh LTCG for land sale of Rs 92 lakh invited tax notice; Gujarat HC ruled in her favour after 9 years fight; Know whyLady got tax notice after selling land for Rs 92 lakh and reporting Rs 22.94 lakh LTCG in ITR; Know how Section 55A(a) helped her win case ...
- ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claimBuilder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent ...
- Reporting perquisite as capital gain in ITR by mistake resulted in Rs 6.63 crore penalty for a salaried employee; ITAT Mumbai granted him relief for this reasonRs 6.63 crore penalty imposed on salaried employee for reporting perquisite as capital gains in ITR; ITAT Mumbai grants relief, says salari...
- Are you an NRI who sold an under-construction property? Here's what actually counts as your “Date of Purchase” for capital gains calculationNRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term ca...
- Don't let selling your house trigger a tax notice: Check these rules under Sections 54 and 54FMany taxpayers who purchase or construct a residential house to claim exemption under Sections 54 or 54F are unaware that selling the house...
- Save income tax when filing ITR for AY 2026-2027 by claiming Section 54 or 54F benefits if you sold land, house property or equity shares; Know howIndian taxpayers can claim capital gains tax exemptions by reinvesting sale proceeds. Section 54 and 54F allow exemptions for residential p...
- GST notice uploaded only on portal isn't valid service, high courts rule: What it means for taxpayersHigh Courts are questioning GST notice validity when only uploaded online. Punjab and Haryana High Court ruled portal uploads are not valid...
- Are you afraid of getting an income-tax notice? Here's how to avoid it completely
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