*******Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT Mumbai

Read more at:https://economictimes.indiatimes.com/wealth/tax/hong-kong-based-son-gets-tax-notice-after-father-buys-insurance-policy-in-his-name-with-cash-he-fights-back-and-wins-case-in-itat-mumbai/articleshow/131505565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Agarwal originally from Goregaon East, but now living in Hong Kong for the past 15 years, gave his father Rs

*****Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains why

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-1-33-crore-cash-deposit-no-itr-filing-yet-senior-citizen-wins-income-tax-case-itat-bangalore-explains-why/articleshow/132994693.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Marathikyathanahalli, a retired teacher from Mysore, Karnataka, India deposited Rs 1.33 crore in cash into his bank account, it triggered

*******NRI used NRE account to buy Rs 79 lakh property, got ‘unexplained cash’ tax notice; ITAT Ahmedabad grants full relief

Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-used-nre-account-to-buy-rs-79-lakh-property-got-unexplained-cash-tax-notice-itat-ahmedabad-grants-full-relief/articleshow/133228037.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst In a recent judgement, the Income Tax Appellate Tribunal (ITAT) Ahmedabad gave relief to a non-resident man from an income tax notice for unexplained

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

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-41-cash-deposit-but-no-itr-bengaluru-man-claimed-his-wife-and-father-paid-his-expenses-itat-bangalore-refuses-relief-on-this-ground/articleshow/133698126.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The Income Tax Appellate Tribunal (ITAT) Bangalore, in a recent judgement refused to overlook a delay of about 4 years in a case involving

India’s IPO party is in full swing. Just don’t mistake debut-day gains for a winning bet

Read more at:https://economictimes.indiatimes.com/opinion/et-commentary/indias-ipo-party-is-in-full-swing-just-dont-mistake-debut-day-gains-for-a-winning-bet/articleshow/133717085.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst August saw 20 companies raise more than ₹21,000 cr, the busiest month in a year. With marquee names like NSE, Reliance Jio

What really happened [1] As per SC decision in 2021 —Phoneix case– Related parties are not creditors and cannot be part of CoC— In Chandra case Related parties allegedly were included in CoC and it overwhelmingly affected majority criteria [2] RP accepted 31.79 crores net worth—which was estimated at 22000 crores —and it was done  without substantial scrutiny and despite several creditors seeking appointment of an independent forensic auditor — [3] Section 96[4] —which allows the debtor to secure an internal moratorium on claims and manage his assets —has been done away with in May,2026– Had this amendment been put in place earlier– possibly the case would have gone entirely opposite direction–Courtesy Editorial BL

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