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ITAT MUMBAI 87A
Wife paid Rs 58 lakh from Indian bank a/c, husband paid Rs 80 lakh from UAE bank a/c for property purchase; she gets tax notice for unexplained investment, wins case in ITAT Mumbai for this reasonTo purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his UAE bank a/c using Dubai exchange...- Rs 9.48 lakh income tax demand on coaching centre quashed: ITAT explains why attendance alone doesn't make contractual teachers employeesContractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand raised; ITAT Cochin rules administ...
- Lady with Rs 5.28 lakh income pays no tax despite Rs 1.42 lakh STCG from equities; Know why ITAT Mumbai allowed the Section 87A rebateEver since the Income Tax utility has disabled the option to claim Section 87A tax rebate on short term capital gains (STCG) from listed eq...
- British Airways reviewing crew accommodation at Hyderabad after reports of crew member sickness: SourcesBritish Airways is reviewing crew accommodation in Hyderabad after isolated sickness reports. A pilot reportedly fell unwell during a recen...
- Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT BangaloreFiled revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's de...
- Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT saidCan the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party ...
- How to select the right ITR form based on your income for AY 2026-2027Choosing the right income tax return form for AY 2026-27 depends on income sources. Individuals can now report two house properties using I...
- Registration of redevelopment agreement alone doesn’t trigger tax, rules ITATMumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse pr...
- Trying to time the market? Missing the best trading days can dent returnsStaying invested throughout market cycles yields the highest returns for investors. Missing just fifty strong trading days drastically redu...
- 7 big income tax changes for 2026-27 that may reduce penalties for small mistakesNew income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from Octo...
- Employee wrongly reported Rs 65.21 lakh VRS payout in ITR, lost tax relief; ITAT Pune rules the amount is not taxable and grants him reliefEmployee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and g...
- ITAT rules Cloudera Inc's software subscription revenue not taxable as royaltyThe ITAT has ruled that Cloudera's software subscription fees from Indian customers are not taxable in India as royalty or technical servic...
- British Airways cannot claim treaty relief on India ground handling income: ITATThe Income Tax Appellate Tribunal (ITAT) has ruled that British Airways cannot claim India-UK tax treaty protection on income from providin...
- NRI woman sold her property in Gujarat for Rs 21 lakh, tax dept sent notices, she missed them as she lived abroad; later she files case and wins in ITAT AhmedabadITAT overturns STCG tax on Gujarat house sale: When Kaminiben, an NRI from Anand, Gujarat, sold her house for Rs 21.4 lakh in AY 2018-19, w...
- Home loan interest column for self-occupied house disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027Home loan interest column for self-occupied house is disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027. The reason...
- Salaried employee earning Rs 68 lakh donates Rs 12 lakh to political party, claims tax deduction; I-T dept denies it; he contests but loses in ITAT AhmedabadEmployee with Rs 68 lakh salary donated Rs 12 lakh to political party for Section 80GGC tax break; ITAT Ahmedabad upholds tax dept's order ...
- Bengaluru landowner sells 17 apartments, earns Rs 11.8 crore LTCG, pays no tax; I-T dept sends notices; he contests and wins in ITAT BangaloreLandowner sells 17 apartments, earns Rs 11.8 crore gains, paid no tax, reinvests gains into 5 properties; tax dept sent notice; he wins cas...
- Income Tax tribunal extends stay on Xiaomi India's Rs 10,833 crore tax demandThe Income Tax Appellate Tribunal has extended a significant tax demand stay. This stay now covers approximately ₹10,833.22 crore for Xiaom...
- NRI sells his Bangalore property for Rs 2.63 crore, declares Rs 16.33 lakh LTCG, gets tax notice; he fights and wins partial relief from ITAT for this reasonSold property for Rs 2.63 crore and reported Rs 16.33 lakh LTCG, claimed home loan interest, travel, water, electricity and brokerage as ex...
- Demerger may not be tax-neutral if holding company issues shares: Mumbai ITATMumbai ITAT ruled demerger share issuance by holding company invalidates loss carry-forward. A subsidiary receiving business must issue sha...
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