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INCOME TAX NOTICE
Retired employee received income tax notice for Rs 9.04 lakh leave encashment; she wins case in ITAT Jaipur, know how leave encashment is taxed- Rs 3.99 lakh penalty for under-reporting income and paying Rs 2 lakh less in income tax; ITAT Jaipur cancels penalty, know why
- How much gold and silver jewellery can you have in your home without getting into trouble with the Income Tax authorities?
- Homeowner sold redeveloped flat for Rs 1.95 crore, paid no income tax, received a tax notice; wins relief in ITAT MumbaiAfter redevelopment of housing society, homeowner sold his flat for Rs 1.95 crore, pays no tax, got tax notice, wins case in ITAT Mumbai fo...15 Oct, 2026, 02.43 PM IST
- Social Security raises payroll tax cap to $192,300 for 2027 - Here's who will pay more after COLA announcementStarting January 2027, American citizens will witness notable changes in their Social Security benefits and payroll taxes. A cost-of-living...15 Oct, 2026, 02.24 PM IST
- ₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here's why taxpayer wins at ITAT DelhiThe Delhi Income Tax Appellate Tribunal quashed the assessment against Mr. Sehgal regarding alleged undisclosed cash. The Income Tax Depart...15 Oct, 2026, 10.49 AM IST
- Social Security cost of living adjustment 2027 is set - here’s when payments changeThe Social Security COLA for 2027 is set at 3.6%, adding about $75 a month to the average retirement benefit. Find out when higher Social S...14 Oct, 2026, 10.53 PM IST
- Social Security COLA 2027: Could your bigger benefit mean a higher tax bill? What retirees should checkThe Social Security Administration announces the 2027 cost-of-living adjustment on Oct. 14. Most forecasts land between 3.2% and 3.6%. Fede...14 Oct, 2026, 08.21 PM IST
- Canada-based senior citizen faced income tax liability of ₹83.2 lakh as STCG; here's why he wins at ITAT Bengaluru on technical groundA recent ITAT ruling highlights the critical importance of following proper legal procedures in income tax reassessment cases. When a taxpa...14 Oct, 2026, 01.13 PM IST
- Senior citizen gets income tax notice over Rs 65.27 lakh cash deposit in bank account; his son proves source of funds and wins case in ITAT JaipurSenior citizen sent income tax notice for Rs 65.27 lakh unexplained cash deposit, which was later proved to be pension and FD money; ITAT J...13 Oct, 2026, 04.28 PM IST
- VRS offer in hand? Check these tax rules before you accept the packageContemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implication...13 Oct, 2026, 06.30 AM IST
- Your student loan could disappear, then the IRS Bill arrives: What changed in 2026?A report by Protect Borrowers estimates that between 2 million and 3 million Americans could face federal tax bills over the next decade. T...12 Oct, 2026, 11.59 PM IST
- Salary from South Korean employer credited to NRE account triggers income tax notice; ITAT Bangalore gives employee reliefEmployee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bangalore gives him relief. Know what ...12 Oct, 2026, 04.11 PM IST
- Good news: If penalty is imposed for misreporting of income or other cases you can apply for waiver of penalty using revised Form 161; Check the detailsOn October 8, 2026, the Central Board of Direct Taxes introduced a revised Form 161 for taxpayers. This new form allows eligible individual...09 Oct, 2026, 06.22 PM IST
- I-T dept moves appellate tribunal against Rs 32.66-cr tax relief to Dr Lal PathLabsDr Lal PathLabs, in a regulatory filing, said that it received an intimation on Wednesday regarding an appeal filed by the I-T Department b...09 Oct, 2026, 12.29 AM IST
- Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: Here's why lady won at ITAT MumbaiWife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for ancestral family jewellery worth Rs ...05 Oct, 2026, 06.46 PM IST
- Dubai NRI bought Rs 2.31 crore property, didn’t file ITR, got income tax notice; she fights back and wins in ITAT on these groundsMrs Chudamasa’s counsel argued that the AO had erred in treating Rs 2,31,20,000 as investment made during financial year 2017-18. He submit...05 Oct, 2026, 04.03 PM IST
- Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT ChennaiMr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cas...05 Oct, 2026, 03.52 PM IST
- Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reasonWhen Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs...05 Oct, 2026, 10.54 AM IST
- NRI child sending money to parents in India: Why a tax-free gift can still trigger an income-tax noticeParents receiving money from their NRI children in India may enjoy tax exemptions on gifts, but large transactions can attract scrutiny fro...02 Oct, 2026, 11.41 AM IST
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