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INCOME TAX NOTICE
Gamer invested Rs 2.61 crore to play online rummy and poker games; loses net Rs 28 lakh, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore- Rs 25 lakh cash deposited in bank, income tax officer sends notice for unexplained cash u/s 69; Taxpayer wins case in ITAT Bangalore, here's why
- Employee showed Rs 9.6 lakh EPF interest in ITR by mistake, got income tax notice: He fought and got full relief in ITAT Mumbai
- Indian Inc rushes to align with UAE’s 15% minimum tax as November deadline loomsIndian multinationals are assessing their UAE tax exposure before November's deadline. A new 15% minimum tax could affect their existing co...04 Sep, 2026, 05.30 AM IST
- Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite a jointly owned property - ITAT Mumbai calls it 'not justified'A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of ...03 Sep, 2026, 03.48 PM IST
- Rs 41 lakh cash deposit but no ITR: Bengaluru man claimed his wife and father paid his expenses; ITAT Bangalore refuses relief on this groundWaseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgement refused to condone a delay of ab...02 Sep, 2026, 10.30 AM IST
- Wife gets income tax notice after husband sells joint property Rs 14 lakh below market price; she fights back and wins the case in ITAT KolkataWife escaped income tax notice as she proved in ITAT that her husband entirely paid for their joint property which was sold for Rs 14 lakh ...01 Sep, 2026, 12.03 PM IST
- Finance Act 2026: Updated return rules change for taxpayers reporting reduced lossesThe Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if unaccounted income merely reduced a ...31 Aug, 2026, 05.35 PM IST
- Rs 16 lakh cash seized in income tax raid, tax officer calls it unexplained cash; Taxpayer claims it to be family money, he fights and wins the case in ITAT MumbaiDuring an income tax search operation (raid) Rs 16 lakh cash was seized; Man says its family cash; tax officer does not believe him and cal...31 Aug, 2026, 03.12 PM IST
- SC to hear Monday plea concerning cash donations received by political partiesThe Supreme Court will hear a plea challenging anonymous cash donations below Rs 2,000. This provision of the Income Tax Act is questioned ...30 Aug, 2026, 02.39 PM IST
- Man receives $3.14 lakh from redemption of Bermuda-focused fund; Income Tax Dept considers it black money, imposes Rs 1.8 crore penalty and tax, but he wins case in ITAT DelhiIndian man working in Singapore gets $3.14 lakh from redemption of units of Bermuda focussed investment fund; Tax dept deems it black money...29 Aug, 2026, 07.53 AM IST
- Rs 2.25-crore notice under Black Money Act to Delhi couple over Singapore, British Virgin Islands assets: ITAT Delhi gave full relief to taxpayer, know whyTax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Singapore and British Virgin Islands...28 Aug, 2026, 04.44 PM IST
- Rupee slide, valuation rules put foreign asset disclosure scheme out of reach for manyThe rupee's depreciation and strict valuation rules hinder foreign income disclosure. A one-time voluntary disclosure window allows regular...26 Aug, 2026, 11.52 PM IST
- Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should doDid someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address income tax notices, file overdue retur...26 Aug, 2026, 04.32 PM IST
- NRI can’t sell Indian property before October 1, 2026 if buyer does not have TAN; Know how to apply for TAN onlineThe TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get a threshold limit of Rs 50 lakh be...26 Aug, 2026, 11.22 AM IST
- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law saysSeverance pay received under a voluntary retirement scheme is not always taxable for all employees; Know why and what the tax law says26 Aug, 2026, 10.56 AM IST
- Selling inherited property? Know who is liable to pay income tax on capital gains and how heirs can claim tax reliefSelling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief.24 Aug, 2026, 05.00 PM IST
- Rs 5.31 lakh income tax refund denied as taxpayer did not claim it in the original ITR; he approaches ITAT Delhi and wins the case to get tax refund with interestRs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Section 148 ITR; ITAT Delhi orders t...24 Aug, 2026, 04.27 PM IST
- Karol Bagh man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reasonBlack money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delh...24 Aug, 2026, 04.14 PM IST
- 8 income tax notices that salaried employees can get after filing ITR; know what they mean and how to respondEmployees who are on a salary may find themselves receiving tax notices following their income tax return filings. These notices typically ...20 Aug, 2026, 02.30 PM IST
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