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TAX ON CASH PROPERTY
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...- 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...
- Rs. 400 crore of ‘cash’ that existed only on paper: Not for the first time, nor will it be the lastWhen something is wrong inside a company, the people running it know first. The auditors may sense it next. A regulator might confirm it ye...
- Elon Musk gambled $445 million to boost Republicans in midterms and came up shortNobody may have suffered bigger losses Tuesday than President Donald Trump. But few others had more on the line than Musk, who gambled big ...
- Elon Musk gambled $445 million to boost Republicans in midterms and came up shortElon Musk's hefty USD 445 million investment in Republican candidates did not yield the desired electoral success, as Republicans faced sig...
- Who won Governor of Michigan race? Meet Democrat Jocelyn Benson and her $60000 promise for teachersThe Associated Press projects that Democrat Jocelyn Benson has won Michigan’s governor’s race. The longtime secretary of state built her ca...
- 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...
- 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...
- Paris Jackson net worth: How rich is Michael Jackson’s daughter as she seeks $600 million from father's estate after 17 years?Paris Jackson has approached a Los Angeles court seeking a $600 million transfer from her late father Michael Jackson's estate to a family ...
- 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' ...
- 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...
- Big dividends, bigger losses? The hidden risk in Wall Street's highest-yielding stocksSeveral US stocks offer dividend yields exceeding 10%, led by mortgage REITs Annaly Capital Management and AGNC Investment above 16%. Howev...
- ₹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...
- Is it time for India’s HNI’s and UHNIs to rethink their real estate portfolios?For generations, families have measured real estate wealth by the number of properties they own, not the returns those assets deliver. That...
- ED attaches SP leader Azam Khan's Jauhar University property worth Rs 1,170 croreThe Enforcement Directorate has provisionally attached the assets of Mohammad Ali Jauhar University in Rampur. This action is taken under t...
- PVR INOX targets 500 new screens in three years, bets on SMART CinemasThe multiplex operator aims to open 90-100 screens in FY27, followed by 150-175 in FY28. It has identified around 300 cities for SMART Cine...
- Info Edge Q2 profit rises 87% to Rs 650 crore as Naukri, 99acres growOther income rose to Rs 428 crore from Rs 162 crore, contributing to the sharp increase in reported profit. The underlying business also st...
- Sell rental properties or buy stocks? Dave Ramsey told one landlord to sell one, keep one, and claimed 20% to 25% returns. Here’s what the data showsDave Ramsey says rental properties can build wealth faster than stocks, but the returns are not guaranteed. A 37-year-old landlord with $25...
- Bethenny Frankel bought a 4,000-square-foot SoHo loft for $4.2 million in 2017 and remodeled it; five years later, she sold it for just under $7 millionCelebrity house flipping can create an illusion of high profitability while ignoring essential financial details. In the case of Bethenny F...
- In 2021, a Baltimore property entered the tax-sale system despite a $13,478 tax payment; what did the court say?The house at 2426 Reisterstown Road in Baltimore was bought by Frederick Williams in 2020. On April 22, 2021, he paid the city $13,478.67 b...
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