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MUMBAI UNEXPLAINED PROPERTY
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...- Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax noticesNRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of sha...
- 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 ...
- 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...
- Lady sold apartment, took Rs 2.5 lakh cash, bought new apartment from son-in-law, paid no tax, got income tax notice; she fights back and wins case in ITAT ChennaiA Chennai woman successfully appealed a tax notice after selling her apartment for Rs 35.5 lakh, including Rs 2.5 lakh in cash, and buying ...
- Dubai earnings sent through banking channels, yet tax notice issued: ITAT Ahmedabad rules property purchase can’t be treated as unexplained investmentAn NRI working in Dubai since 1993 successfully challenged a tax notice for unexplained property investment in India. The ITAT Ahmedabad ru...
- Coming clean may be less taxing: Taxpayers could get away with paying significantly less on unexplained local incomeA close reading of the budget documents shows that a person can slip away by proactively paying a significantly lower amount on unexplained...
- Tax Dept accuses lady of taking Rs 3 crore cash in property deal; ITAT Mumbai disregards WhatsApp chat evidence, says no proof, no taxSmt. Shah successfully challenged the Income Tax Department's claim of receiving Rs 3 crore in cash during a property sale. The ITAT Mumbai...
- Stamp duty vs deal value: Homebuyer gets relief as ITAT Mumbai rejects addition of Rs 18 lakh income by tax dept for property valuation gapA Mumbai homeowner has won a significant tax case. The Income Tax Appellate Tribunal ruled in his favour, deleting an Rs 18.95 lakh income ...
- Lady sells property for Rs 94 lakh, gets Rs 38 lakh in cash; files no ITR, gets tax notice for unexplained income, wins case in ITAT MumbaiA homeowner who sold property for Rs 61 lakh and received Rs 38 lakh in cash has won a tax case. The Income Tax Appellate Tribunal Mumbai r...
- Real estate broker’s excel sheet triggers Rs 48 lakh ‘cash payment’ tax notice; homebuyer wins relief in ITAT AhmedabadThe Income Tax Department sent a tax notice to a husband deeming he bought new flat using Rs 48 lakh cash and had Rs 1.5 crore unverified a...
- Wife gets tax notice for purchasing Rs 51 lakh property but not filing ITR, she fights back and wins in ITAT AhmedabadA Mumbai woman, Mrs. Sood, successfully appealed an income tax notice for an alleged unexplained Rs 51 lakh property investment. The Income...
- Taxpayer with unexplained investment gets part relief in ITAT Delhi due to his socio-economic status, know what it meansOn September 2, 2025, ITAT Delhi granted partial relief to taxpayer Husain, reducing his unexplained investments from Rs 7.82 lakh to Rs 1....
- Taxman may get more power to demolish benami realty dealsTo combat benami property deals, a CBDT panel suggests stricter measures, including access to Aadhaar data and property registries. The rec...
- Taxpayer wins Rs 69-lakh unexplained investment income tax case in ITAT Mumbai on these technical groundsIn 2025, an Indian engineer working in Dubai, won a tax case against the Income Tax Department regarding a Rs 69-lakh 'unexplained investme...
- I-T dept unearths undisclosed income of Rs 1,000 crore from searches in Tamil Nadu"The searches, so far, have resulted in the detection of undisclosed income of more than Rs 1,000 crore. Unaccounted cash of Rs. 1.2 crore ...
- Hotels, mansions, houses: Dawood's vast assets across UKThe gangster's place of birth is recorded as Kher, Ratnagiri, Maharashtra, and his nationality is listed as "Indian" with a recorded Indian...
- I-T department attaches Rs 300-crore benami assets of Chagan Bhujbal, familyWhile the total cost of the attached 'benami' assets has been valued at over Rs 223 crore, the department has said the "market value" of th...
- Inbound M&A deals on I-T department's radar; total tax demand may exceed Rs 4,000 croreThe 40 Indian companies that got the tax demand include Credit Suisse, Godrej Properties, Kohinoor Infrastructure and Carat Media, accordin...
- How to avail benefits after new tax amendments in property transactionsAll tax payers are advised to carefully enter into property transactions in particular and not to make any unexplained investment in the Re...
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