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ODISHA SALES TAX CASE
SC to examine whether states can impose additional sales tax levyA Supreme Court bench will hear a key question on September 22. This concerns states' power to impose an additional sales tax levy. The Odi...- Man did not disclose UAE bank account and foreign shares in ITR, I-T dept imposed Rs 1.86 lakh penalty; He escalates the case but ITAT Delhi offers no reliefDubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Sche...
- NRI selling property in India: Should sale proceeds go to an NRE or NRO account? Know repatriation limits and RBI rulesAre you an NRI looking to sell your property in India after relocating abroad? It's essential to understand the process of repatriating you...
- Himachal imposes 60 paise/litre widow, orphan cess on petrol, dieselThe Himachal Pradesh government has imposed a new cess on fuel. This levy of sixty paise per litre applies to petrol and diesel. The Widow ...
- States should mine more, not tax more: The fiscal lesson from OdishaNew legislation will remove state powers to levy taxes on minerals. This change is expected to encourage investment and increase mineral pr...
- Paid Rs 6.5 crore and bought a property with stamp duty value of Rs 8.85 crore, got income tax notice for unexplained investment; He fought back won relief in ITATBuyer purchased Rs 8.85 crore worth property by paying Rs 6.5 crore; Tax dept sent notice for unexplained property investment u/s 69B; Know...
- India sixth-largest economy at $3.92 trillion nominal GDP in FY26: GovernmentIndia's economy reached sixth globally with a $3.92 trillion GDP in 2025-26. Government strategies focus on agricultural productivity and m...
- Supreme Court seeks data on West Bengal SIR appeals before tribunalsThe Supreme Court has directed the Election Commission to provide details on electoral roll appeals. Congress leader Adhir Ranjan Chowdhury...
- Finance panel calls for AI checks for tax refundsA parliamentary committee has identified a concerning surge in income tax refunds that are taking too long to process. To expedite genuine ...
- 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...
- Odisha floods: Opposition questions CM's Delhi tripsOpposition parties question Chief Minister Mohan Charan Majhi's frequent Delhi visits. These trips occurred while twenty-four districts in ...
- Odisha CM Majhi unveils food processing push at Delhi investor outreachMajhi said the state views food processing not merely as an industrial activity but as an avenue for wider economic transformation.
- LIC Q1 profit surges 23% on growth in value of new businessLife Insurance Corporation of India reported a twenty-three percent net profit rise. Value of new business jumped sixty-one percent, boosti...
- Technocraft Ventures raises Rs 75.55 cr from anchor investors ahead of IPOTechnocraft Ventures Ltd secured Rs 75.55 crore from anchor investors before its public offering. The company's Rs 252-crore initial public...
- 'Compensation must cover a lifetime of suffering': Supreme Court doubles compensation to Rs 83 lakh for child left disabled in crash, says 'entire future has been taken away''Compensation must cover a lifetime of suffering': The Supreme Court has nearly doubled the motor accident compensation awarded to an Odish...
- 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 ...
- Jindal Stainless Q1 net profit up 8%, price hikes offset cost surgeJindal Stainless production dipped during the June quarter due to West Asia conflict disruptions. However, price increases helped ease some...
- NRI selling property, shares or gold in India? Here's how you can manage your capital gains tax in a better waySelling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Property sales offer significant tax redu...
- 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 ...
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