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INCOME TAX RULES ON CASH
Chinese companies providing overseas services to Indian subsidiaries may escape tax: ITATIn a landmark decision, the Delhi Income Tax Appellate Tribunal has determined that Chinese firms offering services from overseas are not l...09 Nov, 2026, 06.15 AM IST- Rs 48 lakh in cash received from the sale of two properties, paid capital gains tax but received an income tax notice; taxpayer wins the case in ITAT Cuttack for this reasonMr. Purushottam residing in Kabisurya Nagar, encountered a penalty for accepting cash payments linked to his property sales. He sold two pr...07 Nov, 2026, 05.24 PM IST
- Daughter took father’s land by paying Rs 7.25 lakh in cash to her brothers and abandoned father, he filed a court case; Karnataka HC gives back the land to himMr. Bairappa had given his land to his daughter with the understanding of receiving care. However, she betrayed him by denying assistance a...07 Nov, 2026, 11.08 AM IST
- Rs 8.02 lakh leave encashment tax exemption denied: Retired employee wins case in ITAT SuratRetiree Mr. Patel from Bharuch, Gujarat, sought a complete tax exemption on Rs 8.02 lakh of leave encashment. Initially, his company certif...07 Nov, 2026, 10.04 AM IST
- Farmer bought land at less than stamp duty value, got income tax notice; How DVO report helped him win Rs 18.24 lakh tax dispute in ITAT SuratMr. Desai, encountered difficulties with the Income Tax Department after purchasing land for a price less than the stamp duty value. The In...06 Nov, 2026, 01.56 PM IST
- Incorrect HRA or deduction claims? How Section 270AA may offer relief from 200% penaltyIncorrect tax claims may expose taxpayers to a 200% penalty for misreporting and prosecution in appropriate cases. Section 270AA offers con...06 Nov, 2026, 09.51 AM IST
- Rs 21.6 lakh speculative trading loss in stock market triggers Income Tax notice for no tax audit; Trader wins case at ITAT CuttackMr. Kumar, a diligent stock trader, faced considerable financial setbacks but overlooked the necessity of a tax audit. In response to his f...05 Nov, 2026, 04.07 PM IST
- Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT JaipurPolicyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexp...04 Nov, 2026, 03.32 PM IST
- SC says 1974 ruling on states' power to levy additional sales tax continues to holdThe Supreme Court held that a previous ruling from 1974 regarding additional sales tax remains applicable today. It determined that the leg...04 Nov, 2026, 01.03 PM IST
- Son gets income tax notice for Rs 33.23 lakh in property investment and cash; he gets relief in ITAT Jaipur for this reasonMother sold 642 grams gold jewellery, gifts the amount to son via notarised gift deed, son buys property and deposits cash in bank but gets...04 Nov, 2026, 10.15 AM IST
- $700 million tax bill vs $4.15 million image: The court case that saved Michael Jackson’s heirsA US Tax Court judge has determined that Michael Jackson's name, image, and likeness are worth $4.15 million. This valuation is considerabl...03 Nov, 2026, 10.49 PM IST
- ₹16 lakh jewellery, ₹3.88 lakh cash treated as unexplained income; here’s why the taxpayer wins at ITAT HyderabadIn a significant ruling, the Hyderabad ITAT absolves Mr Chintakunta of tax additions regarding unexplained cash and jewellery found during ...03 Nov, 2026, 10.09 AM IST
- Rs 3.2 crore found in blue drums buried in UP village; police probe brothers' Mumbai, Pune linksThe recovery of Rs 3.2 crore from three buried blue drums in Uttar Pradesh's Nawabganj has prompted investigators to examine two brothers' ...02 Nov, 2026, 03.02 PM IST
- Rs 60 lakh cash deposit in widow's bank account triggers income tax notice for unexplained credit; she fights back and wins in ITAT PuneMs Parve’s counsel argued in ITAT Pune that she is a housewife and never filed her income tax return (ITR) as she had no independent source...02 Nov, 2026, 01.27 PM IST
- Sold property? You may pay zero tax if these Section 82 rules under Income Tax Act 2025 are metFor Tax Year 2026-2027, Income Tax Act, 2025 is applicable and this means you need to be versed with the renumbered Sections in order to co...02 Nov, 2026, 11.19 AM IST
- India's ESOP tax rules need reform to ease employee burdenIndia’s ESOP tax rules impose tax on unrealised gains before employees receive cash, creating liquidity pressures. Reforming taxation throu...30 Oct, 2026, 11.22 PM IST
- ₹20.45 lakh cash deposits, ₹12.64 lakh capital gains from property sale questioned by Income Tax Department; here’s why woman wins relief at ITAT HyderabadA Telangana woman successfully challenged an income-tax dispute involving substantial cash deposits and a property sale. The ITAT Hyderabad...29 Oct, 2026, 11.22 AM IST
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