Clipped from: https://www.financialexpress.com/money/woman-receives-rs-33-lakh-property-as-gift-gets-tax-notice-itat-explains-when-a-gift-becomes-taxable-4160087/ A woman with an annual income of just Rs 3.4 lakh received a property worth Rs 33 lakh through a registered gift deed
Forex card breach: Prompt reporting can secure full refund if no negligence
lipped from: https://www.business-standard.com/finance/personal-finance/forex-card-breach-prompt-reporting-can-secure-full-refund-if-no-negligence-126030100870_1.html When not travelling, lock the forex card, keep only a small balance, and switch on alerts Listen to This Article The recent breach
Insurance Query | Matters Of The Heart – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/insurance-query-matters-of-the-heart/article70655893.ece Should you opt for plan with unlimited sum insured? Q: My wife, Aaruhi (35), was recently diagnosed with a chronic heart condition. As
NRI remittances and taxes – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/nri-remittances-and-taxes/article70657685.ece Tax implications of NRI remittances and income for parents, including capital gains and interest taxation guidelines I am an Indian citizen and tax
38 Important Income Tax changes proposed in Finance Bill 2026
Clipped from: https://taxguru.in/income-tax/38-important-income-tax-proposed-finance-bill-2026.html The Union Budget 2026–27 proposes wide-ranging amendments across the Income-tax framework to extend compliance timelines, expand correction windows, and recalibrate penalties and interest. Key changes
Reassessment u/s 148 Quashed Where No Addition Made on Recorded Reasons: ITAT Cuttack
lipped from: https://taxguru.in/income-tax/reassessment-u-s-148-quashed-addition-recorded-reasonsentire-proceedings-held-invalid-itat-cuttack.html Arpita Jena Vs ITO (ITAT Cuttack) Reassessment u/s 148 Quashed Where No Addition Made on Recorded Reasons; Entire Proceedings Held Invalid – ITAT
No Tangible Material: Reassessment Invalid; Bogus LTCG Addition Deleted– ITAT Chandigarh
Clipped from: https://taxguru.in/income-tax/reassessment-u-s-148-quashed-lack-tangible-material-bogus-ltcg-addition-u-s-68-deleted-itat-chandigarh.html Pawan Garg Vs ITO (ITAT Chandigarh) Reassessment u/s 148 Quashed for Lack of Tangible Material; Bogus LTCG Addition u/s 68 Deleted – ITAT
Gift of Property Share from Husband to Wife Eligible for Capital Gain Exemption, But Clubbing and Capital Gains Rules Apply: Rules ITAT [Read Order]
Clipped from: https://www.taxscan.in/top-stories/gift-of-property-share-from-husband-to-wife-eligible-for-capital-gain-exemption-but-clubbing-and-capital-gains-rules-apply-rules-itat-1421600?TRN300=CEBWzMSUsaUPKegAedYMcbWGACJDwuMKEGAvdYqxgJGMVUfcyMsKJIDqKMsAshMbVwAEDIMSSIeJMk&LKD333=3439104 Observing that the legal transfer of ownership through gift and the reinvestment of capital gains satisfied the conditions under Section 54, the ITAT
Wrongfully Seizure of NRI’s Personal Belongings by Customs Dept: Delhi HC allows to Avail Baggage Rule Benefits [Read Order]
Clipped from: https://www.taxscan.in/wrongfully-seizure-of-nris-personal-belongings-by-customs-dept-delhi-hc-allows-to-avail-baggage-rule-benefits/500299?TRN300=CEBWzMSUsaUPKegAedYMcbWGACJDwuMKEGAvdYqxgJGMVUfcyMsKJIDqKMsAshMbVwAEDIMSSIeJMk&LKD333=3439147 The Court ordered that the petitioner’s gold item that had been confiscated by customs officers could be returned to the petitioner or any
Builder homebuyer dispute: Should homebuyers choose arbitration or RERA for quicker resolution? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/builder-homebuyer-dispute-should-homebuyers-choose-arbitration-or-rera-for-quicker-resolution/articleshow/128875199.cms Listen to this article in summarized format While homebuyers with disputes against builders can take their cases to civil courts or RERA tribunals, there’s also another option: Arbitration.
Why the concern over capital flows – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/why-the-concern-over-capital-flows/article70685198.ece With developed markets too becoming a draw for investors, the outlook on the currency looks slightly uncertain FPIs were always considered to be
Regulating social media: Banning it for children is no silver bullet
lipped from: https://www.business-standard.com/opinion/editorial/regulating-social-media-banning-it-for-children-is-no-silver-bullet-126022501274_1.html A private member’s Bill has even proposed disabling the accounts of all under-16 users (Representative image) Listen to This Article A debate over
Sec 263 Revision Quashed as PCIT Failed to Conduct Independent Enquiry: ITAT Amritsar
Clipped from: https://taxguru.in/income-tax/sec-263-revision-quashed-reopening-tangible-material-invalid-pcit-failed-conduct-independent-enquiry-itat-amritsar.html Late Shri Sucha Singh Vs PCIT (ITAT Amritsar) Sec 263 Revision Quashed – Reopening Without Tangible Material Invalid & PCIT Failed to Conduct
Income Tax Faceless Assessment & Virtual Hearing: What If Officer Does Not Join VC?
Clipped from: https://taxguru.in/income-tax/income-tax-faceless-assessment-virtual-hearing-officer-join-vc.html The faceless assessment regime was introduced with the objective of transparency, efficiency and elimination of physical interface. One of the important safeguards built
CIT(A) Cannot Dismiss Appeal Solely for Delay & Decide on Merits: ITAT Raipur
Clipped from: https://taxguru.in/income-tax/cit-a-dismiss-appeal-delay-order-set-matter-remanded-fresh-adjudication-itat-raipur.html Rajesh Kumar Singhania HUF Vs ITO (ITAT Raipur) CIT(A) Cannot Dismiss Appeal Only for Delay – Order Set Aside Matter Remanded for Fresh
Bombay HC Quashes Reassessment as Section 148 Notice Issued by Wrong Authority
Clipped from: https://taxguru.in/income-tax/bombay-hc-quashes-reassessment-section-148-notice-issued-wrong-authority.html Vibhavari Bharat Bhatt Vs ITO (Bombay High Court) The Bombay High Court considered a writ petition challenging multiple proceedings initiated under the Income
ITAT Delhi Quashed Section 263 Revision as AO Took a Possible View
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashed-section-263-revision-ao-view.html Mukul Rohatgi Vs PCIT (ITAT Delhi) This appeal arose from a revision order passed under Section 263 of the Income-tax Act, 1961 for
Reassessment Quashed as Year of Search Cannot Be Reopened Under Section 148
Clipped from: https://taxguru.in/income-tax/reassessment-quashed-year-search-reopened-section-148.html Arjun Singh Sahi Vs DCIT/ACIT (ITAT Dehradun) The appeal for Assessment Year 2017-18 arose from reassessment proceedings initiated under Sections 147 and 148