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- Rs 24 crore cash sales in Form 26AS, Rs 4-crore tax demand: How a five-star hotel cook won his case in Delhi High Court
Mr. Lalit, a cook at Hotel Ashoka, received a surprising income tax notice claiming Rs 4 crore. This noti ...More
Mr. Lalit, a cook at Hotel Ashoka, received a surprising income tax notice claiming Rs 4 crore. This notice cited Rs 24 crore in cash sales attributed to him, leading to significant distress. His Form 26AS incorrectly showed these transactions, prompting Lalit to file a complaint regarding identity theft. The Delhi High Court ultimately canceled the tax demand, finding insufficient evidence from the Income Tax Department. ...Less
- ₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here's why taxpayer wins at ITAT Delhi
The Delhi Income Tax Appellate Tribunal quashed the assessment against Mr. Sehgal regarding alleged undis ...More
The Delhi Income Tax Appellate Tribunal quashed the assessment against Mr. Sehgal regarding alleged undisclosed cash. The Income Tax Department claimed he received Rs 1.70 crore in cash from a property sale. However, the tribunal noted that the evidence did not sufficiently establish the cash transactions. The tribunal observed that proper cross-examination of involved parties was not conducted. ...Less
- Former Mumbai office boy wins tax battle over Rs 1.46 crore transactions linked to alleged KYC misuse
In a significant legal battle, former office boy Waghela challenged a disputed tax order linked to dubiou ...More
In a significant legal battle, former office boy Waghela challenged a disputed tax order linked to dubious financial practices. The Income Tax Appellate Tribunal ruled that earlier notices were improperly issued, nullifying the reassessment. Waghela contended that his KYC details were exploited by a previous employer to generate an additional PAN. ...Less
- Income tax department survey reveals large-scale property scam in Gurgaon; 25,000 properties linked to fictitious PAN
An Income Tax department survey in Gurgaon's Badshahpur tehsil unraveled that a single fictitious Permane ...More
An Income Tax department survey in Gurgaon's Badshahpur tehsil unraveled that a single fictitious Permanent Account Number (PAN), 'ABCDEF1234,' was used to register nearly 25,000 properties over the last two years. The survey also significant underreporting and misreporting of property transactions. The IT department have also sought reforms from the state government which have not yet come to fruition. ...Less
- Rs 3.41 crore in FCNR deposits tagged as unexplained money despite being held by Dubai-based individual; ITAT Jaipur grants full relief
Mrs. Khanwani, a Dubai resident, faced tax notices for unexplained money linked to her FCNR deposits. The ...More
Mrs. Khanwani, a Dubai resident, faced tax notices for unexplained money linked to her FCNR deposits. The ITAT Jaipur ruled in her favor, highlighting the funds' clear origin from bank records. The Income Tax Department could not dispute the source of funds provided by her husband, Mr. Chand. ...Less
- Rs 4.29 crore commodity trading turnover, no books of accounts, Rs 3.42 lakh income declared in ITR; Income Tax Dept imposed Rs 25,000 penalty, but he wins case in ITAT Jaipur
Rs 4.29 crore commodity trading turnover, no books of accounts, Rs 3.42 lakh income declared in ITR, Inco ...More
Rs 4.29 crore commodity trading turnover, no books of accounts, Rs 3.42 lakh income declared in ITR, Income Tax Dept imposed Rs 25,000 penalty; he wins tax penalty case in ITAT Jaipur. ...Less
- Transferring immovable property? How TDS compliance is now simpler with new Form 141
With the introduction of Form 141, taxpayers can easily report TDS by combining several earlier forms int ...More
With the introduction of Form 141, taxpayers can easily report TDS by combining several earlier forms into one streamlined approach. This update simplifies compliance for reporting transactions relating to rent, property transfers, and virtual digital assets. ...Less
- Restaurants face income tax scrutiny as suspected tax evasion tops Rs 25,000 crore
The income tax department in India has identified significant tax evasion by thousands of restaurants. Ap ...More
The income tax department in India has identified significant tax evasion by thousands of restaurants. Approximately 8,000 restaurants showed discrepancies between their earnings and income tax filings over four years. The government aims to improve tax compliance through new measures and data analytics. Authorities previously estimated substantial under-reported income linked to missing sales records. The initiative intends to ensure fair taxation within the restaurant sector moving forward. ...Less
- Rs 3.99 lakh penalty for under-reporting income and paying Rs 2 lakh less in income tax; ITAT Jaipur cancels penalty, know why
A man from Sikar faced a penalty of Rs 3.99 lakh for under-reporting his income. The Income Tax Departmen ...More
A man from Sikar faced a penalty of Rs 3.99 lakh for under-reporting his income. The Income Tax Department initiated penalty proceedings after he filed an income tax return. However, the ITAT Jaipur found technical mistakes in the penalty notice issued by the Assessing Officer. They noted the absence of specified violation under Section 270A(9) in the penalty proceedings. Consequently, the penalty was quashed, providing full relief to the taxpayer. ...Less
- India's net direct tax collections rise 13.21% to Rs 13.38 lakh crore till October 14 of FY27
India’s net direct tax collections rose 13.21% year-on-year to Rs 13.38 lakh crore as of October 14 in FY ...More
India’s net direct tax collections rose 13.21% year-on-year to Rs 13.38 lakh crore as of October 14 in FY27, while gross collections increased 14.89% to Rs 16.03 lakh crore. Refunds rose 24.22% to Rs 2.65 lakh crore. Net corporate tax, non-corporate tax and Securities Transaction Tax collections also increased. ...Less
- Landowner gets Rs 6 crore by selling TDRs received for giving up land for road widening, pays no tax; ITAT Bangalore rules TDR sale taxable as capital gains
For giving up 2,839 sq. metres of land, BBMP gives landowner TDRs which landowner sells to builder for Rs ...More
For giving up 2,839 sq. metres of land, BBMP gives landowner TDRs which landowner sells to builder for Rs 6 crore; Income Tax Dept sends notice; ITAT Bangalore rules TDR sale attracts capital gains tax ...Less
- Has government imposed 5% GST on e-commerce delivery services ahead of Diwali? Income Tax Dept says this
Recent speculation on social media suggests that a new GST has been introduced for e-commerce delivery se ...More
Recent speculation on social media suggests that a new GST has been introduced for e-commerce delivery services. However, the Press Information Bureau has clarified that instead, the GST rate has been lowered from 18% to 5%. This amendment was part of the 57th GST Council meeting recommendations, aiming for a standardized tax structure. ...Less
- I-T dept moves appellate tribunal against Rs 32.66-cr tax relief to Dr Lal PathLabs
Dr Lal PathLabs, in a regulatory filing, said that it received an intimation on Wednesday regarding an ap ...More
Dr Lal PathLabs, in a regulatory filing, said that it received an intimation on Wednesday regarding an appeal filed by the I-T Department before the Income Tax Appellate Tribunal (ITAT), New Delhi. ...Less
- Centre plans faceless CGST scheme in 3-4 months, seeks to cut taxpayer-officer interface
The Centre plans to launch a pilot faceless scheme under the Central Goods and Services Tax. The aim of t ...More
The Centre plans to launch a pilot faceless scheme under the Central Goods and Services Tax. The aim of the scheme is to reduce direct interactions between taxpayers and tax officers significantly. Cases will be assigned using technology, including artificial intelligence and data analytics for efficiency. This new framework draws on the existing faceless system used by the Income Tax Department. ...Less
- Canada-based senior citizen faced income tax liability of ₹83.2 lakh as STCG; here's why he wins at ITAT Bengaluru on technical ground
A recent ITAT ruling highlights the critical importance of following proper legal procedures in income ta ...More
A recent ITAT ruling highlights the critical importance of following proper legal procedures in income tax reassessment cases. When a taxpayer living abroad was given only five days to respond, rather than the legally required seven, the tribunal quashed the notice and subsequent reassessment. This decision underscores vital procedural safeguards for taxpayers in similar situations. ...Less
- When do you need a tax residency certificate to claim lower tax rate under DTAA for Tax Year 2026
For Indians earning income from overseas, securing a tax residency certificate is essential to avail bene ...More
For Indians earning income from overseas, securing a tax residency certificate is essential to avail benefits under the Double Taxation Avoidance Agreement (DTAA). To acquire this certificate, taxpayers must complete Form 42 online via the income tax e-filing portal. This form necessitates accurate details and supporting documents to confirm residency status. ...Less
- Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT Chennai
Mr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and othe ...More
Mr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cash in his bank account. After this he got an unexplained deposit tax notice. He wins case in ITAT Chennai; Know how. ...Less
- Dolly Khanna portfolio: Ace investor sells 4 lakh shares of Chennai Petroleum in Q2, stock up 82% in one year
Ace investor Dolly Khanna trimmed her stake in Chennai Petroleum Corporation by around 3.85 lakh shares i ...More
Ace investor Dolly Khanna trimmed her stake in Chennai Petroleum Corporation by around 3.85 lakh shares in Q2 FY27. The stock has delivered multibagger returns over three and five years, despite recent monthly weakness. ...Less
- Retired employee received income tax notice for Rs 9.04 lakh leave encashment; she wins case in ITAT Jaipur, know how leave encashment is taxed
Retired employee sent income tax notice for Rs 9.04 lakh leave encashment, she wins case in ITAT Jaipur; ...More
Retired employee sent income tax notice for Rs 9.04 lakh leave encashment, she wins case in ITAT Jaipur; Know how leave encashment is taxed for private and government employees in India. ...Less
- Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: Here's why lady won at ITAT Mumbai
Wife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for an ...More
Wife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for ancestral family jewellery worth Rs 67 lakh; she claimed it’s ancestral and wins relief in ITAT Mumbai. ...Less
- How much gold and silver jewellery can you have in your home without getting into trouble with the Income Tax authorities?
How much pure silver and gold jewellery can you have in your home without getting into trouble with the I ...More
How much pure silver and gold jewellery can you have in your home without getting into trouble with the Income Tax authorities? To know the answer you need to read CBDT Instruction No. 1916. ...Less
- Salary from South Korean employer credited to NRE account triggers income tax notice; ITAT Bangalore gives employee relief
Employee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bang ...More
Employee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bangalore gives him relief. Know what NRIs should note if they get money in their NRE account. ...Less
- ED arrests Rakesh Kumar Gupta, chairman of media broadcast company in insolvency-linked case
Rakesh Kumar Gupta, chairman of Sadhna Group, was arrested under the Prevention of Money Laundering Act. ...More
Rakesh Kumar Gupta, chairman of Sadhna Group, was arrested under the Prevention of Money Laundering Act. The Enforcement Directorate claims he manipulated insolvency processes to settle large tax dues for a fraction of the owed amount. Allegations include substantial cash transactions linked to cryptocurrency and questionable payments to connected creditors. The court rejected Gupta's defense arguments and deemed the investigation lawful and necessary. ...Less
- NRI child sending money to parents in India: Why a tax-free gift can still trigger an income-tax notice
Parents receiving money from their NRI children in India may enjoy tax exemptions on gifts, but large tra ...More
Parents receiving money from their NRI children in India may enjoy tax exemptions on gifts, but large transactions can attract scrutiny from the Income-tax Department. Understanding when these transfers could prompt questions and how to document them properly is crucial for avoiding potential tax liabilities or notices. Learn about the necessary safeguards and responses to inquiries. ...Less
- Senior citizen gets income tax notice over Rs 65.27 lakh cash deposit in bank account; his son proves source of funds and wins case in ITAT Jaipur
Senior citizen sent income tax notice for Rs 65.27 lakh unexplained cash deposit, which was later proved ...More
Senior citizen sent income tax notice for Rs 65.27 lakh unexplained cash deposit, which was later proved to be pension and FD money; ITAT Jaipur order explained. ...Less
- Karnataka CM Shivakumar hints at "good news" on pending central grants after GST Council meet
Karnataka Chief Minister DK Shivakumar addressed media after the GST Council meeting concerning pending c ...More
Karnataka Chief Minister DK Shivakumar addressed media after the GST Council meeting concerning pending central grants. He mentioned that Union Finance Minister Nirmala Sitharaman provided some encouraging updates on this matter. Shivakumar opposed the proposal for criminal cases against those not paying GST, advocating for a more constructive approach. The meeting also confirmed that significant procedural reforms were approved and the existing GST rates will remain unchanged. ...Less
- Do you have to pay tax in India or abroad? Why your residential status is important factor
Individuals earning income abroad must understand their tax residency status according to the Income Tax ...More
Individuals earning income abroad must understand their tax residency status according to the Income Tax Act. The Act outlines conditions based on the duration of stay in India for tax purposes. Tax residency rules will apply to financial years beginning from April 1, 2026. Any individual’s residential status requires separate analysis for financial years crossing different tax regimes. ...Less
- Son sells ancestral land for Rs 8 crore, buys 2 more properties; gets income tax notice but wins at ITAT Chandigarh: Know why
A family from Panchkula owned some ancestral land in a village. A member of this family sold his share of ...More
A family from Panchkula owned some ancestral land in a village. A member of this family sold his share of the the said land for Rs 8 crore and purchased two more lands and claimed Section 54B and Section 54F tax exemption. However, he got a tax notice. ...Less
- I-T searches premises linked to film producers Kumar Mangat Pathak, Vashu Bhagnani
The Income Tax Department on Monday searched multiple Mumbai locations linked to Panorama Studios and fil ...More
The Income Tax Department on Monday searched multiple Mumbai locations linked to Panorama Studios and film producers Kumar Mangat Pathak and Vashu Bhagnani over suspected irregularities involving foreign remittances and alleged tax evasion, sources said. Officials examined financial records and overseas transaction details as part of the ongoing probe. ...Less
- Groom gets Rs 10 lakh cash and gold jewellery from wedding guests. Now he has to keep record of these gifts. But why?
A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cous ...More
A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cousin's gift has sparked a very different conversation online. With money reportedly collected from around 110 guests, gold jewellery also received and the entire cash amount set to be deposited in a bank account, the post has left X users debating one key question: what happens when the Income Tax Department asks where it came from? ...Less
- Medicine shop owner deposits Rs 2.47 crore cash in bank account, gets income tax notice for unexplained cash; wins case in ITAT Delhi for this reason
Mr Kumar, a medicine shop owner had deposited Rs 2.47 crore cash in his bank account during demonetisatio ...More
Mr Kumar, a medicine shop owner had deposited Rs 2.47 crore cash in his bank account during demonetisation period, he got an unexplained cash income tax notice. After a long legal fight he won the case in ITAT Delhi. This article explains how. ...Less
- Purchased property below market value, filed no ITR, got income tax notice, paid the tax but asked to pay Rs 70,000 penalty; ITAT Delhi gives full relief
Rs 70,000 penalty imposed on man for buying property below market value even though he paid the due tax a ...More
Rs 70,000 penalty imposed on man for buying property below market value even though he paid the due tax after getting a notice; ITAT Delhi cancels penalty ...Less
- Dubai NRI bought Rs 2.31 crore property, didn’t file ITR, got income tax notice; she fights back and wins in ITAT on these grounds
Mrs Chudamasa’s counsel argued that the AO had erred in treating Rs 2,31,20,000 as investment made during ...More
Mrs Chudamasa’s counsel argued that the AO had erred in treating Rs 2,31,20,000 as investment made during financial year 2017-18. He submitted that the actual payments during the year aggregated to Rs 1.85 crore, comprising Rs 1.73 crore paid to the builder and Rs 11.86 lakh towards registration charges and legal expenses. Read on to know on what grounds did she win in ITAT Mumbai. ...Less
- Brother-in-law caught with Rs 4.34 lakh worth of foreign currency; income tax officer sends notice; he wins case in ITAT Delhi with help from sister-in-law
A brother-in-law got into trouble when he was found with Rs 4.34 lakh in foreign currency. A tax officer ...More
A brother-in-law got into trouble when he was found with Rs 4.34 lakh in foreign currency. A tax officer sent him a notice about it. But, the brother-in-law defended himself in front of the ITAT in Delhi, saying the cash belonged to his sister-in-law. ...Less
- Stocks in news: Tata Steel, KPI Green Energy, NLC India, Poonawalla Fincorp and Cummins India
Indian equity benchmarks faced a decline as both the Nifty 50 and BSE Sensex hit six-month lows. The Nift ...More
Indian equity benchmarks faced a decline as both the Nifty 50 and BSE Sensex hit six-month lows. The Nifty 50 saw a drop of 64.05 points, or 0.28%, closing at 22,716.20. Notably, Tata Steel announced a favorable tax order and made significant investments in its subsidiary. Other companies including Poonawalla Fincorp and Cummins India reported various corporate developments affecting their market positions. ...Less
- US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT Delhi
Rs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins c ...More
Rs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how ...Less
- Man paid lower income tax by setting off business loss against long term capital gains but received income tax notice; wins case in ITAT Delhi
Man pays lower income tax by setting off business loss with long term capital gains but gets income tax n ...More
Man pays lower income tax by setting off business loss with long term capital gains but gets income tax notice; Wins case in ITAT Delhi. ITAT Delhi held that since the law does not prescribe any sequence of set-off a taxpayer may choose his own sequence. ...Less
- Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reason
When Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an In ...More
When Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs 7.65 lakh income, this raised many red flags within the income tax systems. He wins case in ITAT Delhi. ...Less
- Moving from UAE to India? 6-step financial homecoming guidebook to manage tax residency, bank accounts, Dubai property, and gratuity
Tax residency, bank accounts, Dubai property and gratuity all need sorting before and after you fly home. ...More
Tax residency, bank accounts, Dubai property and gratuity all need sorting before and after you fly home. ...Less
- AAP alleges Centre misusing agencies ahead of assembly polls amid ED searches in Punjab
Punjab Finance Minister Harpal Singh Cheema slammed the Centre over the the Enforcement Directorate's sea ...More
Punjab Finance Minister Harpal Singh Cheema slammed the Centre over the the Enforcement Directorate's search operations in the state, accusing it of misusing probe agencies ahead of the state assembly polls. AAP workers on Thursday staged a protest outside the GMADA office and raised slogans against the Union government. The ED on Tuesday search operations at the offices of GMADA in Mohali. The agency also searched the residence of the nephew of Punjab minister Hardeep Singh Mundian in Sahnewal in Ludhiana. ...Less
- Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reason
In Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposit ...More
In Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, his successful appeal to the ITAT Bangalore showcased that these funds were legitimately sourced from agricultural sales. By providing land records, APMC sale bills, and bank statements, he effectively justified his claims and won the case. ...Less
- 5 Bangalore landowners formed a partnership firm to develop property, received income tax notice for undisclosed rental income; won relief in ITAT for this reason
Bangalore landowners get relief from undisclosed rental income tax notice after proving in ITAT that thei ...More
Bangalore landowners get relief from undisclosed rental income tax notice after proving in ITAT that their partnership firm received the rent. What happened was, five Bangalore landowners signed JDA with builder, later formed partnership firm to develop property; but then the landowners got undisclosed rental income tax notice. ...Less
- Missed ITR deadline and TDS refund is due? Know how to claim your refund before it’s too late
Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing be ...More
Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing belated returns, potential fees, interest, and the crucial condonation process if even that window has passed. Understand the implications for carry-forward losses and deductions. Avoid common mistakes to ensure your refund is processed smoothly. ...Less
- Tenant received Rs 1.38 crore worth of flats for surrendering tenancy rights for society's redevelopment, he received income tax notice; Know how he won the case in ITAT Mumbai
Tenant receives Rs 1.38 crore permanent alternate accommodation, gets Section 56(2)(x) tax notice; ITAT M ...More
Tenant receives Rs 1.38 crore permanent alternate accommodation, gets Section 56(2)(x) tax notice; ITAT Mumbai gives relief; know why. This judgement was given by Vikram Singh Yadav, the Accountant Member along with Siddhartha Nautiyal, the Judicial Member of ITAT Mumbai. ...Less
- India's net direct tax collections rise 13% to Rs 12.1 lakh crore till September 17 of FY27
India’s net direct tax collections rose 12.96% year-on-year to Rs 12.12 lakh crore as of September 17, go ...More
India’s net direct tax collections rose 12.96% year-on-year to Rs 12.12 lakh crore as of September 17, government data showed. Gross collections increased 15.19% to Rs 14.32 lakh crore, while refunds rose 29.19% to Rs 2.20 lakh crore. Corporate, non-corporate and Securities Transaction Tax collections all increased. ...Less
- Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reason
Student gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; ...More
Student gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; She wins case in ITAT Delhi; Know how did she win and what is the income tax treatment of scholarship. ...Less
- Indian moves to US for job, forgets to file ITR, Income Tax Dept imposes Rs 8.29 lakh penalty; ITAT Jaipur cancels penalty and gives full relief
Indian employee working in US imposed with Rs 8.29 lakh penalty for missing to file ITR after moving to U ...More
Indian employee working in US imposed with Rs 8.29 lakh penalty for missing to file ITR after moving to US; ITAT Jaipur cancels penalty and gives full relief. ITAT Jaipur’sSMC bench who heard this case composed of Annapurna Gupta, accountant memberand Kuldip Singh, judicial member. ...Less
- Advance tax deadline of September 15, 2026: What will be the consequences if you miss the due date?
The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs pena ...More
The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs penal interest charges. Advance tax is income tax paid in instalments during the financial year. Individuals with a tax liability exceeding Rs 10,000 must pay advance tax. Penal interest under Sections 234B and 234C applies for late or short payments. ...Less
- How much money can NRIs transfer from NRO to NRE account in a year?
Non-Resident Indians can effectively manage their Indian earnings via NRO accounts. They are allowed to t ...More
Non-Resident Indians can effectively manage their Indian earnings via NRO accounts. They are allowed to transfer funds to NRE accounts, but there are specific regulations to follow. ...Less
- Income Tax Dept seized gold, diamonds and silver in a tax search operation from lady’s house and bank locker; she wins case in ITAT Mumbai
How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept s ...More
How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept seized her gold, diamond, silver items and jewellery kept in house and bank locker ...Less
- Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT Ahmedabad
Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore ...More
Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no ITR, got an unexplained money tax notice u/s 69; he partially wins case in ITAT Ahmedabad ...Less
- Rs 6.42 lakh travel expense disallowed as business expenditure over use of wife’s credit card; businessman contests tax order, wins relief in ITAT Mumbai
Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit ...More
Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit card to pay for it; ITAT Mumbai gives relief to taxpayer. Challa Nagendra Prasad, Judicial Member and G.M. Doss, Accountant Member of ITAT Mumbai heard this case. ...Less
- NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITAT
The NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge an ...More
The NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge and had entrusted an accountant with all her tax-related compliance; hence, she was not made aware of the notices issued. Moreover, after becoming aware of her mistake, the lady even paid the tax liability with appropriate interest. Read on to know how ITAT ruled in her favour. ...Less
- GST returns, overseas investments, off-market stock deal come under AIS
The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional ...More
The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional data. This revision extends to GST returns, foreign remittances linked to mutual funds, off-market securities, and overseas investments. Furthermore, data from another taxpayer's income tax returns will be added, aiming to fortify the verification of income and transaction details for taxpayers. ...Less
- ED raids Jarkiholi, MP daughter; Congress alleges targeting of Opposition leaders
Central agencies are being used to threaten opposition leaders, according to Karnataka Congress president ...More
Central agencies are being used to threaten opposition leaders, according to Karnataka Congress president B K Hariprasad. The Enforcement Directorate searched premises linked to state minister Satish Jarkiholi and his daughter. Hariprasad questioned the targeting of Jarkiholi and the lack of raids on his BJP-affiliated brothers. The Supreme Court has previously reprimanded the Enforcement Directorate for its actions. Further details regarding the investigation are still awaited by officials. ...Less
- Mumbai’s ‘Special 26’ twist: Sacked driver, 2 I-T officials stage fake raid for Rs 1 crore
A sacked driver and two Income Tax officials attempted a fake raid. They demanded one crore rupees from a ...More
A sacked driver and two Income Tax officials attempted a fake raid. They demanded one crore rupees from a former employer's Mumbai office. The company owner foiled the extortion attempt by asking for authorization documents. Police have arrested ten individuals, including the two serving Income Tax officials. Investigations are ongoing to identify all involved parties and their roles. ...Less
- Landlord deposited Rs 14.96 lakh cash during demonetisation, got tax notice: ITAT Bangalore grants relief
Landlord took rent in cash, deposited Rs 14.96 lakh cash during demonitisation period; got Income tax not ...More
Landlord took rent in cash, deposited Rs 14.96 lakh cash during demonitisation period; got Income tax notice, he wins case in ITAT Bangalore. The ITAT Bangalore bench which heard this case comprised of Waseem Ahmed, an accountant member and Keshav Dubey, a judicial member. ...Less
- Bengali Hindu landlord’s Rs 1.89-crore rental income faced tax dispute over HUF status: Why ITAT Delhi gave relief
Bengali Hindulandlord earns Rs 1.89 crore rental income in Delhi, reports it in his HUF’sITR; Income Tax ...More
Bengali Hindulandlord earns Rs 1.89 crore rental income in Delhi, reports it in his HUF’sITR; Income Tax dept rejects it on the ground that Dayabhaga Hindu can’t have an HUF, landlord wins case in ITAT Delhi ...Less
- Rs 2.42 lakh FD investment and Rs 1.06 lakh cash deposits, no ITR filed, got income tax notice; senior citizen wins case in ITAT Jaipur after 9-year fight
No ITR filed, yet Rs 2.42 lakh FD investment, Rs 1.06 lakh cash deposits triggers tax notice for senior c ...More
No ITR filed, yet Rs 2.42 lakh FD investment, Rs 1.06 lakh cash deposits triggers tax notice for senior citizen; she wins case in ITAT Jaipur after 9 years fight. Know how Mrs Devi won the case in ITAT Jaipur. ...Less
- Record 7.8 crore ITRs filed for AY26-27 as August 31 deadline ends
Over 7.8 crore Income Tax Returns were filed for AY 2026-27 by August 31. This marked the close of the re ...More
Over 7.8 crore Income Tax Returns were filed for AY 2026-27 by August 31. This marked the close of the revised statutory deadline for non-audit taxpayers. The Income Tax Department thanked taxpayers and professionals for their timely compliance. Non-audit business and professional taxpayers had an extended filing period. Belated returns can be filed until December 31, 2026. ...Less
- Will your NPS linked retirement get derailed if you change your job? Here’s what you can do to keep your retirement on track
Changing jobs? Make sure your National Pension System (NPS) account doesn’t get overlooked. Learn how you ...More
Changing jobs? Make sure your National Pension System (NPS) account doesn’t get overlooked. Learn how your Permanent Retirement Account Number (PRAN) stays transferable, what happens to your contributions when you switch jobs, and why reassessing your retirement savings plan is essential during this transition, not just adjusting your paycheck. ...Less
- Tax reforms drive 1.32 crore updated returns, Rs 16,083 crore additional tax: CBDT member
Updated income tax returns have increased significantly over four years. New tax regime adoption shows st ...More
Updated income tax returns have increased significantly over four years. New tax regime adoption shows strong uptake among taxpayers filing returns. Karnataka ranks second in direct tax collections, contributing substantially to national revenue. Technology-driven systems enhance transparency and encourage voluntary taxpayer compliance. The department processes returns rapidly and issues refunds efficiently to taxpayers. ...Less
- 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
Income Tax Dept sent tax notice for Rs 9.6 lakh EPF interest which employee never received but erroneousl ...More
Income Tax Dept sent tax notice for Rs 9.6 lakh EPF interest which employee never received but erroneously shown in ITR as received; he fights and wins case in ITAT Mumbai. This judgement was delivered by Challa Nagendra Prasad, the Judicial Member, and Makarand Vasant Mahadeokar, the Accountant Member of ITAT Mumbai. ...Less
- Delhi HC acts big on fake GST registrations, rules no GST registration without biometric-based Aadhaar authentication
In light of many fraudulent GST registrations, the Delhi High Court has ruled that no Goods and Services ...More
In light of many fraudulent GST registrations, the Delhi High Court has ruled that no Goods and Services Tax (GST) registration can be obtained without Aadhaar biometric authentication. Read the article to know more. ...Less
- 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 deposits Rs 25 lakh cash in bank; tax officer sends notice for unexplained cash u/s 69; Employee ...More
Employee deposits Rs 25 lakh cash in bank; tax officer sends notice for unexplained cash u/s 69; Employee wins case in ITAT Bangalore; Know how. This judgement was given by Keshav Dubey, a judicial member and Waseem Ahmed, an accountant member of ITAT Bangalore ...Less
- 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
Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, file ...More
Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore. Waseem Ahmed, the Accountant Member, and Soundararajan K., the Judicial Member of ITAT Bangalore heard this case. ...Less
- Income Tax searches Dentsu Media Group offices in Mumbai, Delhi, Chennai, Bengaluru over suspected evasion
A wave of Income Tax searches is currently sweeping through Dentsu Media Group offices in multiple cities ...More
A wave of Income Tax searches is currently sweeping through Dentsu Media Group offices in multiple cities amid a suspected tax evasion inquiry. Officials are meticulously reviewing locations linked to the media and advertising conglomerate. While the investigation progresses, nuanced details on the potential evasion have yet to emerge, leaving stakeholders eagerly awaiting additional information. ...Less
- I-T Department searches Dentsu Media Group premises in suspected tax evasion case
In a sweeping operation, the Income-tax Department has searched Dentsu Media Group's offices throughout I ...More
In a sweeping operation, the Income-tax Department has searched Dentsu Media Group's offices throughout India. The focus primarily lies on several entities connected to this Japanese advertising giant's operations. Following an investigation into transactions within an Indian subsidiary, Dentsu has contested claims of ₹522.8 crore concerning purported goods and services. As the investigations proceed, the group remains resolute in defending its actions and is collaborating with authorities. ...Less
- Missed August 31 ITR deadline? Know what ITR 3 and ITR 4 filers can do now
ITR deadline: By the end of August 31, 2026, over 7.8 crore individuals completed their income tax return ...More
ITR deadline: By the end of August 31, 2026, over 7.8 crore individuals completed their income tax return submissions. Those who did not file on time have until December 31, 2026, to submit a belated ITR, incurring possible late fees. Notably, failing to meet this deadline also prevents taxpayers from opting out of the new tax regime, with business income earners unable to revert to the old regime post-deadline. ...Less
- Gurgaon RWA sought charitable trust registration with rental and maintenance income; ITAT Chandigarh rejected RWA’s appeal for this reason
RWA earned rent by letting out common areas and collected maintenance from residents and seeked charitabl ...More
RWA earned rent by letting out common areas and collected maintenance from residents and seeked charitable trust registration; ITAT Chandigarh rejects RWA’s appeal. Laliet Kumar, a Judicial Member and Manoj Kumar Aggarwal, an Accountant Member of the Income Tax Appellate Tribunal (ITAT) Chandigarh gave this judgement. ...Less
- Parliamentary panel flags compliance glitches on new income tax act, seeks more data from CBDT
A parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking ...More
A parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking detailed data from the CBDT on its overall impact. The committee wants to understand changes in taxpayer numbers and revenue collection. Technology-driven tax processes and faceless decisions also presented certain challenges. Further discussions are planned with tax authorities to address these concerns. ...Less
- 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 Kolkata
Wife escaped income tax notice as she proved in ITAT that her husband entirely paid for their joint prope ...More
Wife 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 less price than market value. Read the article to know why the wife won the case in ITAT Kolkata. ...Less
- Land(ing) in trouble: ₹8,500 cr property deals under taxman's scanner
Transactions were either not reported, were undervalued or had suspected benami ownership; deals span bul ...More
Transactions were either not reported, were undervalued or had suspected benami ownership; deals span bulk land purchases, agri land & other high-value properties ...Less
- 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 Mumbai
During an income tax search operation (raid) Rs 16 lakh cash was seized; Man says its family cash; tax of ...More
During an income tax search operation (raid) Rs 16 lakh cash was seized; Man says its family cash; tax officer does not believe him and calls it unexplained cash; he wins case in ITAT Mumbai. Read the article to know how. ...Less
- ITR filing deadline: Income Tax Department asks business, professional taxpayers to file returns by August 31
The Income Tax Department has reminded taxpayers with business or professional income who are not subject ...More
The Income Tax Department has reminded taxpayers with business or professional income who are not subject to audit to file their ITRs for AY 2026-27 by August 31. More than 6.5 crore returns have been filed so far, including over 2 crore ITR-3 and ITR-4 forms. ...Less
- 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 Delhi
Indian man working in Singapore gets $3.14 lakh from redemption of units of Bermuda focussed investment f ...More
Indian man working in Singapore gets $3.14 lakh from redemption of units of Bermuda focussed investment fund; Tax dept deems it black money and imposes Rs 1.8 crore penalty and tax; he wins case in ITAT Delhi. Read the article. ...Less
- Income Tax Department launches nationwide verification of suspicious foreign remittances
The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remitta ...More
The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several entities that allegedly remitted large amounts of foreign exchange despite reporting little or no turnover, the Central Board of Direct Taxes (CBDT) said. ...Less
- Delhi HC raps I-T dept over Rs 53 crore Vodafone Idea refund delay
The Delhi High Court has ordered the income tax department to refund Vodafone Idea ₹53.09 crore. This ref ...More
The Delhi High Court has ordered the income tax department to refund Vodafone Idea ₹53.09 crore. This refund is for assessment years 2003-04 and 2008-14, held for over two years. The court mandated the refund with interest by September 30, or additional interest will apply. This ruling highlights significant issues within the department regarding tax refunds. Vodafone Idea won a legal battle before the tribunal in June 2024. ...Less
- 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 interest
Rs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Se ...More
Rs 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 the tax dept to issue the refund with interest. ...Less
- 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 reason
Black money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; ...More
Black 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 Delhi after proving his identity theft angle with Economic Offences Wing’s help. ...Less
- 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 why
Tax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Si ...More
Tax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Singapore and British Virgin Islands to their income but ITAT Delhi cancels these additions. Know how this couple won the black money case. ...Less
- Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite 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 ...More
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 Rs 34.8 lakh. The amont was added to the husband's income alone by the tax office, despite him having a lower ownership in the property. ITAT Mumbai has delivered a ruling which could have significant takeaways for property owners. ...Less
- Rs 41 lakh cash deposit but no ITR: Bengaluru man claimed his wife and father paid his expenses; ITAT Bangalore refuses relief on this ground
Waseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgemen ...More
Waseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgement refused to condone a delay of about 4 years in an unexplained cash deposit case after the taxpayer explained he only got to know about this tax notice while applying for visa for overseas travel. ...Less
- I-T unearths Rs 1.29 lakh cr foreign remittances
The tax probe has found that a substantial portion of the money moved to a handful of overseas destinatio ...More
The tax probe has found that a substantial portion of the money moved to a handful of overseas destinations. Singapore, the UAE, Hong Kong, Mauritius and China together accounted for 72.3% of the total remittances. Singapore emerged as the largest destination, receiving Rs 41,885 crore while Rs 18,331 crore was remitted to the UAE and Rs 18,064 crore to Hong Kong. ...Less
- School assembly news headlines for September 2: Top India, world, sports and business updates
School assembly news headlines for September 2: Stay updated with the latest national, international, spo ...More
School assembly news headlines for September 2: Stay updated with the latest national, international, sports and business developments making headlines today. Key stories include major Supreme Court developments, PM Modi’s engagements at the SCO Summit, the Nepal flood aftermath, Lionel Messi’s international retirement, US Open results, India’s 7.8% GDP growth and important railway and economic updates. ...Less
- ITR filing August 31, 2026, deadline today: Due date for AY 2026-27; Check who must file return
ITR filing deadline: Taxpayers with business or profession income must file their returns today. This dea ...More
ITR filing deadline: Taxpayers with business or profession income must file their returns today. This deadline applies to those using ITR-3 and ITR-4 forms. More than seven crore income tax returns have already been filed. Individuals and HUFs with presumptive business income use ITR-4. Partners of non-audit firms also have this August 31 filing requirement. ...Less
- Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should do
Did someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address inco ...More
Did someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address income tax notices, file overdue returns, and handle outstanding dues. Familiarize yourself with the circumstances that make a notice valid, your duties, and strategies to shield yourself from personal liability. Keep tax issues from becoming a lasting burden after a loved one's passing. ...Less
- India working on FDI clarifications for foreign money from its land-border neighbours
India is clarifying foreign direct investment rules for bordering nations. These clarifications will guid ...More
India is clarifying foreign direct investment rules for bordering nations. These clarifications will guide investors from countries sharing land borders. New Delhi updated procedures for processing investment applications from these geographies. Investors must provide extensive details on shareholding and ownership structures. ...Less
- Rajinikanth is the highest tax-paying actor in Tamil Nadu; daughter Aishwaryaa beams with pride, collects award on his behalf
Rajnikanth will next be seen in Nelson Dilipkumar’s ‘Jailer’. ...More
Rajnikanth will next be seen in Nelson Dilipkumar’s ‘Jailer’. ...Less
- Income tax dept has identified suspicious entities that sent money abroad, launches verification drive; Know what to do
Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspici ...More
Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspicious entities who sent money abroad; Know what to do ...Less
- Can NRIs invest in sovereign gold bonds? What the latest SGB investment rules say
Sovereign gold bonds: Non-Resident Indians cannot invest in Sovereign Gold Bonds currently. However, exis ...More
Sovereign gold bonds: Non-Resident Indians cannot invest in Sovereign Gold Bonds currently. However, existing bondholders can continue holding them until maturity. NRIs can invest in physical gold and digital gold options. These include gold mutual funds and gold ETFs. A demat account is required for digital gold investments. ...Less
- Got Income Tax notice asking you to pay Rs 6,000 in tax? Check this warning from government’s fact check team
Attention taxpayers: a fraudulent Income Tax notice demanding a payment of Rs 6,000 has been detected onl ...More
Attention taxpayers: a fraudulent Income Tax notice demanding a payment of Rs 6,000 has been detected online. The Fact Check team from the Press Information Bureau has categorically identified it as a phishing scam. Citizens are strongly advised not to respond to such deceptive messages from unfamiliar sources. Remember, the Income Tax Department will never ask for sensitive financial details via email. ...Less
- Employee got Rs 30 lakh salary after job switch, did not file ITR, Income Tax dept imposed Rs 3.74 lakh penalty; he fought and won the case in ITAT Delhi
Employee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept s ...More
Employee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept sent notice and imposed Rs 3.74 lakh penalty, he fights and wins case in ITAT Delhi ...Less
- Man constructs a house before selling his old property and claims income tax exemption under Section 54; Income Tax Department sends notice; he wins case in ITAT Delhi
Constructs house for Rs 47 lakh in Tilak Nagar, sells old property in Paschim Viharfor Rs 53 lakh, pays n ...More
Constructs house for Rs 47 lakh in Tilak Nagar, sells old property in Paschim Viharfor Rs 53 lakh, pays no tax, tax dept sent notice, man wins case in ITAT Delhi; Know how. This Paschim Vihar property was purchased on July 20, 2005 for Rs 6.48 lakh (including stamp duty). ...Less
- 8 income tax notices that salaried employees can get after filing ITR; know what they mean and how to respond
Employees who are on a salary may find themselves receiving tax notices following their income tax return ...More
Employees who are on a salary may find themselves receiving tax notices following their income tax return filings. These notices typically point out discrepancies requiring immediate attention from the taxpayer. It is essential to understand the context of each notice to ensure proper compliance and effective dispute resolution. The Income Tax Department sends out these notifications for clarification and mistake correction. ...Less
- I-T department officials discuss roadmap for improving services for taxpayers
Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer servi ...More
Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer services and reducing litigation for the department. Discussions also covered strengthening infrastructure and creating an actionable future roadmap. E-HRMS, service matters, and capacity building were extensively deliberated upon. The conclave concluded with a focus on future departmental functioning and priorities. ...Less
- August 31 ITR filing deadline: ITR-3 or ITR-4? Which form you should choose while filing your income tax return
Taxpayers engaged in business activities must submit either ITR-3 or ITR-4 by the deadline of August 31, ...More
Taxpayers engaged in business activities must submit either ITR-3 or ITR-4 by the deadline of August 31, 2026. While ITR-4 simplifies the process through presumptive taxation, ITR-3 demands a more detailed presentation of accounts. ...Less
- Lower or nil TDS certificates to go fully online soon, rules being framed
New rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon a ...More
New rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon apply online for reduced or nil tax deductions. This initiative aims to ease compliance burdens for small taxpayers. The Income Tax department disposed of many appeals in the last fiscal year. Faceless assessments were also completed, though fewer than previously. ...Less
- Unsuspecting landowner got income tax notice as his land was sold for Rs 6.82 crore cash by someone via forged sale deed; he fights back and wins tax case in ITAT Ahmedabad on this ground
For Rs 6.82 crore cash notorious land grabbing gang sold land via forged sale deed with forged signature ...More
For Rs 6.82 crore cash notorious land grabbing gang sold land via forged sale deed with forged signature of landowner; however landowner got tax notice for not reporting sale of land; ITAT Ahmedabad cancels tax notice on this ground. Read the article. ...Less