*****Banks have received flood of money. Now comes the real test–Courtesy ET
https://economictimes.indiatimes.com/prime/banks-have-received-a-flood-of-money-now-comes-the-real-test/primearticleshow/133892866.cms Just a year ago, much of the talk in the banking sector was about a shortage of deposits; how money flowing into other financial
*******Man with Rs 41.45 lakh in bank deposits faces Income Tax action; here’s what ITAT said
https://www.financialexpress.com/money/income-tax/man-with-rs-41-45-lakh-in-bank-deposits-faces-income-tax-action-heres-what-itat-said/4333620 A tax notice from the Income Tax Department over unexplained cash deposits can be a serious issue for any taxpayer, particularly when the case involves old transactions and
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
Read more at:https://economictimes.indiatimes.com/wealth/tax/income-tax-dept-seized-gold-diamonds-and-silver-in-a-tax-search-operation-from-ladys-house-and-bank-locker-she-wins-case-in-itat-mumbai/articleshow/133880385.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/income-tax-dept-seized-gold-diamonds-and-silver-in-a-tax-search-operation-from-ladys-house-and-bank-locker-she-wins-case-in-itat-mumbai/articleshow/133880385.cms Mrs Kelkar who has been married for 35 years and lives with her husband in Vashi, Navi Mumbai got entangled in
*******Trust vs Will in India: Taxability & 8 other facts that tell you what protects your family’s wealth
https://economictimes.indiatimes.com/wealth/legal/will/trust-vs-will-in-india-taxability-8-other-facts-that-tells-you-what-protects-your-familys-wealth/private-family-trusts-in-india-what-you-actually-need-to-know/slideshow/133905531.cms 1/9 Private family trusts in India: What you actually need to know Thinking about protecting your family’s assets beyond just writing a Will? Here’s
Daughter can claim late father’s share in HUF property even after widowed mother’s remarriage, rules Madras HC
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/daughter-can-claim-late-fathers-share-in-huf-property-even-after-widowed-mothers-remarriage-rules-madras-hc/articleshow/133908713.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/legal/will/daughter-can-claim-late-fathers-share-in-huf-property-even-after-widowed-mothers-remarriage-rules-madras-hc/articleshow/133908713.cms The Madras High Court recently ruled that Hindu daughters, as class-I legal heirs, can inherit their late father’s share of joint
*****Section 54 Shortfall Not Taxable in Original Year: Mumbai ITAT Deletes Penalty
Read more at: https://taxguru.in/income-tax/section-54-shortfall-not-taxable-original-year-mumbai-itat-deletes-penalty.html Copyright © Taxguru.in https://taxguru.in/income-tax/section-54-shortfall-not-taxable-original-year-mumbai-itat-deletes-penalty.html Summary: The appeal was filed by the assessee against the order dated 19.02.2026 passed by the Commissioner of
*******No Section 41(1) or 68 Addition on Suspicion: ITAT Mumbai
Read more at: https://taxguru.in/income-tax/no-section-41-1-68-addition-suspicion-itat-mumbai.html?utm_source=follow.it Copyright © Taxguru.in https://taxguru.in/income-tax/no-section-41-1-68-addition-suspicion-itat-mumbai.html?utm_source=follow.it Mere non-furnishing of confirmations and supporting documents during assessment does not establish cessation of a trading liability under Section
*******Profit Below ₹50 Lakh Bars Reopening Beyond 3 Years: ITAT Delhi
Read more at: https://taxguru.in/income-tax/itat-delhi-quashes-reopening-rs-50-lakh-threshold-sustains-profit-addition-unaccounted-purchases.html?utm_source=follow.it Copyright © Taxguru.in https://taxguru.in/income-tax/itat-delhi-quashes-reopening-rs-50-lakh-threshold-sustains-profit-addition-unaccounted-purchases.html?utm_source=follow.it Where alleged unaccounted purchases have corresponding sales and only the embedded profit represents real income escaping assessment, the
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