Day: September 27, 2025
Reassessment After 4 Years With Same Set of Facts Which Already Available During Original Assessment Legally Bad: ITAT [Read Order]
Clipped from: https://www.taxscan.in/top-stories/reassessment-after-4-years-with-same-set-of-facts-which-already-available-during-original-assessment-legally-bad-itat-1429217 The Tribunal quashed the reassessment order, ruling that reopening an assessment after four years based on the same facts available during the original
*Rupee tantrums – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/rupee-tantrums/article70096990.ece RBI has adopted right approach so far in managing rupee fall The rupee has explored new lows in recent days, and is within
***Missed the ITR Deadline? Here’s what you need to know about filing a Belated Return for AY25 26 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/missed-the-itr-deadline-heres-what-you-need-to-know-about-filing-a-belated-return-for-ay25-26-495986-2025-09-27 Taxpayers who missed the deadline get another opportunity to comply by filing a belated return. The Income Tax (I-T) Department has confirmed that
*Your income tax queries answered: F&O losses, HRA for parents, and foreign share gains – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/your-income-tax-queries-answered-fampo-losses-hra-for-parents-and-foreign-share-gains-3990903/ Get clarity on key income tax rules for Indian residents. Learn if Futures & Options (F&O) losses can be set off against Long-Term
*Do I have to pay income tax if I gift a flat to my wife? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/do-i-have-to-pay-income-tax-if-i-gift-a-flat-to-my-wife/articleshow/124151569.cms Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us
*Wedding Gifts Not Taxable under Income Tax: ITAT deletes ₹10 Lakh Cash Deposit Addition [Read Order]
ITAT held that the wedding gifts were customary and exempt from tax. They also deleted ₹10 lakh under section 69A, and allowed ₹10,000 deduction under
*JDA Does Not Constitute Transfer u/s. 2(47): ITAT Deletes Capital Gains Addition on Security Deposit [Read Order]–[ Read the last para which says it was a security deposit which was refundable ]
Clipped from: https://www.taxscan.in/top-stories/jda-does-not-constitute-transfer-u-s-itat-deletes-capital-gains-addition-on-security-deposit-1433422 The tribunal examined the collaboration agreement which revealed that the ₹5 crore was a security deposit and not sale consideration, and that possession
*******Functioning of GST Appellate Tribunal
Clipped from: https://taxguru.in/goods-and-service-tax/functioning-gst-appellate-tribunal.html The Appellate Tribunal is the second level of appeal, where appeals can be filed against the orders-in-appeal passed by the Appellate Authority or
*Delhi HC Upholds Order sets aside Income Tax Notice issued u/s 153C Beyond Six years [Read Order]
Clipped from: https://www.taxscan.in/top-stories/delhi-hc-upholds-order-sets-aside-income-tax-notice-issued-us-153c-beyond-six-years-1433534 The notice issued under Section 153C for AY 2010-11 is much beyond six years In a recent case, the Delhi High Court upheld the order
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