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ITAT JUDGMENT ON FLAT EXCHANGE
Zulu Proverb of the Day: 'Inxeba lendoda alihlekwa' - 'The wound of a man is not laughed at'Zulu Proverb of the Day: A powerful Zulu proverb, "The wound of a man is not laughed at," underscores the importance of empathy and respect...- Mumbai IT professional claims Rs 3.91 lakh TDS, gets only Rs 79,000 and Rs 3.36 lakh tax demand as employer failed to deposit tax; here's what happened nextITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS but has not remitted the same to the...
- Senior citizen mistakenly paid tax on tax-free VRS compensation; wins complete relief from ITAT Chennai on this groundA senior citizen wrongly paid tax on Rs 24 lakh retrenchment compensation received under a BSNL Voluntary Retirement Scheme. Despite a sign...
- Chinese idiom of the day: 'Bringing a wolf into the house' - this Chinese saying reveals why trusting the wrong person can ruin everythingChinese idiom of the day: Ancient Chinese wisdom warns against misplaced trust with the idiom "Bringing a Wolf into the House." This cautio...
- African Proverb of the Day: “If you think you have someone eating out of your hands, it is a… — Life lessons on human nature, trust, confidence awareness and why all that glitters is not goldAfrican proverb of the day highlights the meaning of “If you think you have someone eating out of your hands, it is a good idea to count yo...
- ITAT: Accrued interest component on non-convertible debentures sales is taxable as interest incomeThe ITAT has held that the accrued interest component embedded in sale proceeds from non-convertible debentures cannot automatically be tre...
- African Proverb of the Day: “If you damage the character of another, you damage your… — Life lessons on human nature,perception, responsibility, social behavior, judgment and why you should treat others the way you want to be treatedAfrican Proverb of the Day highlights the meaning of “If you damage the character of another, you damage your own.” The saying reflects how...
- Best proverb of the day: "If you want to dine with the devil, you'll need a long spoon." A life lesson on dealing with difficult peopleBest proverb of the day: The German saying "If you want to dine with the devil, you'll need a long spoon" warns against getting too close t...
- On ESOP value over US$ 60,000 US estate tax up to 40% can be levied after death of even a non-US resident; Here’s how to manage its impact on legal heirsIndian professionals holding US ESOPs and RSUs face a significant risk of up to 40% US estate tax on assets exceeding $60,000 after their d...
- Idiom of the Day: “Cut somebody some slack” — A simple idiom with a big life lessonThe idiom “cut somebody some slack” highlights the importance of patience, understanding, and flexibility in human interactions. It is comm...
- Rs 17.25 lakh income of an employee was added as taxable salary despite working in UK; ITAT Delhi gives him relief under India-UK DTAAThe Income Tax Appellate Tribunal (ITAT) Delhi has ruled that even if a non-resident salaried individual has received any ‘per-diem’ paymen...
- African Proverb of the Day: “Do not follow a person who is… — Life lessons on judgment, awareness, decision making, responsibility and why understanding a situation matters more than following the crowdAfrican Proverb of the Day highlights the meaning of “Do not follow a person who is running away.” The saying reflects the importance of in...
- Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...
- Kolkata woman made Rs 26 crore profit in stocks and paid zero tax: Here's how she did it legallyA Kolkata businesswoman, Saroj Goenka, legally saved ₹26 crore in taxes by reinvesting long-term capital gains from share sales into constr...
- Tenant wins tax relief on Rs 38.62 lakh sale of landlord’s property, received for surrendering tenancy rights; know why ITAT Mumbai ruled in his favourA Mumbai tenant received tax relief after selling a property he obtained for surrendering his tenancy rights. The Income Tax Appellate Trib...
- Delhi HC agrees to examine Sir Sobha Singh & Sons' appeal in ambassador hotel matter; records centre's assurance on eviction proceedingsThe Delhi High Court will hear an appeal from Sir Sobha Singh & Sons Private Limited. The case involves a long-running property dispute wit...
- Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
- Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITATDolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term capital loss as a business loss. The...
- Booked flat for Rs 24 lakh in 2010, paid Rs 40 lakh over time, still no possession in 2026; homebuyers awarded full refund and Rs 2.5 lakh compensation eachThe case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society project initially proposed in Noi...
- Can you sell household items worth more than Rs 2 lakh in cash? Check the tax rulesA woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her fa...
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