Clipped from: https://economictimes.indiatimes.com/wealth/tax/dubai-based-taxpayer-gets-i-t-notice-for-unexplained-investment-in-rs-2-crore-mumbai-property-he-fights-back-and-gets-relief-from-itat-mumbai/articleshow/125958976.cms On November 14, 2025, Mr. Ostwal won his income tax case at ITAT Mumbai, as the tribunal deleted Rs 2 crore addition to
Author: Anil R Tikotekar
*******NRI property sellers lose lakhs to TDS delays; why Budget 2026 must step in to simplify the tax rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/nri-property-sellers-lose-lakhs-to-tds-delays-why-budget-2026-must-step-in-to-simplify-the-tax-rules/articleshow/126666575.cms The current tax regulations around sale of property are quite complex, leading to significant fund blockage for non-resident Indians (NRIs) who are selling property. A
*******Reassessment Invalid Without Section 143(2) After Return u/s 148: ITAT Pune
lipped from: https://taxguru.in/income-tax/reassessment-invalid-section-143-2-return-u-s-148.html Bharat Kantilal Chengede Vs ITO (ITAT Pune) Reassessment Quashed for Non-Issue of Section 143(2) Notice Despite Belated Return Filed u/s 148- Pune Trib
Adjudication Beyond SCN: Violation of Section 75(7) of CGST Act, 2017
lipped from: https://taxguru.in/goods-and-service-tax/adjudication-show-notice-violation-section-75-7-cgst-act-2017.html Adjudication Beyond Show Cause Notice: Violation of Section 75(7) of the CGST Act, 2017 Introduction: Statutory restriction on adjudication Section 75(7) of the
*******Appeal Dismissal for Non-Prosecution Invalid When Notices Sent to Wrong Email Address
Clipped from: https://taxguru.in/income-tax/appeal-dismissal-non-prosecution-invalid-notices-wrong-email-address.html Veenus Jewellars Vs ITO (ITAT Hyderabad) Failure to Follow Specified Mode of Communication Invalidates Dismissal for Non-Prosecution: ITAT Hyderabad The ITAT Hyderabad condoned a
All About ITC Denial to Purchasers Due to Supplier’s Tax Default
Clipped from: https://taxguru.in/goods-and-service-tax/itc-denial-purchasers-due-suppliers-tax-default.html Author’s Note As we saw, most purchasers were penalised due to the supplier’s default. Sometimes suppliers forget to pay tax, and other times
GST Appeal Pre-Deposit Can Be Paid Using Input Tax Credit: SC
Clipped from: https://taxguru.in/goods-and-service-tax/gst-appeal-pre-deposit-paid-input-tax-credit-sc.html Yasho Industries v. Union of India (Use of Electronic Credit Ledger for GST Appeal Pre-Deposit) The Supreme Court’s decision in Yasho Industries v. Union of
Wages under New Wage Code (CoSS 2020): ESIC Applicability & Key Nuances
Clipped from: https://taxguru.in/corporate-law/wages-wage-code-coss-2020-esic-applicability-key-nuances.html Understanding “Wages” under the New Wage Code (CoSS 2020) ESIC Applicability, Definition & Critical Nuances Every Employer Must Know With the implementation of
ITC Reversal Fails When GST Registration Cancellation Is Set Aside: AP HC
Clipped from: https://taxguru.in/goods-and-service-tax/itc-reversal-fails-gst-registration-cancellation-set-ap-hc.html Summary: In a practical and taxpayer-friendly ruling, the Andhra Pradesh High Court held that input tax credit (ITC) reversal under Section 29(5) of the
*Nominee vs. legal heir: who is legally entitled to funds? – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/nominee-vs-legal-heir-who-is-legally-entitled-to-funds/article70521768.ece If a nominee has been appointed for a bank account, the bank may release funds to the nominee; however, ownership of those funds
Most GST disputes arise from misread notifications, not tax evasion: CA explains why – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/most-gst-disputes-arise-from-misread-notifications-not-tax-evasion-ca-explains-why-511338-2026-01-17 Highlighting a recurring pattern in GST litigation and audits, the financial expert pointed out that notifications cannot be read in isolation. Every notification,
*******Centre plans collateral-free microloans for gig and domestic workers | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/centre-plans-collateral-free-microloans-for-gig-and-domestic-workers-126011700142_1.html A new scheme will provide loans of up to ₹10,000 to gig workers and domestic helps, modelled on PM-SVANidhi, to support entrepreneurship and
Across the aisle by P Chidambaram: No unemployment in India! – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/across-the-aisle-by-p-chidambaram-no-unemployment-in-india/4111061/ In 2026, India faces a startling economic contradiction: a “deluge of good news” with 1.33% inflation and 7.4% GDP growth, yet a massive
*******NRI Remittances–I live in the UK and send money to my parents in India — do they need to pay tax on it? NRI son’s tax dilemma – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/i-live-overseas-and-send-money-to-my-parents-in-india-do-they-need-to-pay-tax-nris-dilemma-4110705/ Money sent by NRI children to parents: Tax-free gift or taxable income? Q: To understand the tax treatment of such remittances, we reached
महायुतीचा महाविजय – Maharashtra Times
Clipped from: https://maharashtratimes.com/editorial/mahayuti-wins-maharashtra-local-body-elections-2025/articleshow/126119623.cms Maharashtra Local Body Election: उत्तर महाराष्ट्र, पश्चिम महाराष्ट्र, विदर्भ-मराठवाडा आणि कोकण अशा सर्व भागांमध्ये भाजपचे झेंडे फडकले आहेत. अशा निवडणुकांमधून तळागाळात उभी राहणारी
*Supreme Court reserves verdict on plea to withdraw life-sustaining treatment for Harish Rana – The Hindu
Clipped from: https://www.thehindu.com/news/national/supreme-court-reserves-verdict-on-a-plea-to-withdraw-life-sustaining-treatment-for-harish-rana/article70512419.ece The hearing highlighted the importance of the family taking a “consistent and well-considered” decision Supreme Court of India, New Delhi. File | Photo
RBI ombudsman authorised to clear compensation up to ₹30 lakh – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/rbi-ombudsman-authorised-to-clear-compensation-up-to-30-lakh/article70515676.ece The Reserve Bank will establish the Centralised Receipt and Processing Centre at one or more places to receive the complaints filed under the
*****Capital gains tax – Selling assets in 2026? How to keep more of your gains and less for the taxman – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/selling-assets-in-2026-how-to-keep-more-of-your-gains-and-less-for-the-taxman-capital-gains-tax-511277-2026-01-16 Capital gains arise when the selling price of an asset exceeds its acquisition cost after adjusting for transfer expenses. While such gains are
*Lady signs POA with land owner, builds flats on land and sells, claims Rs 13 crore tax deduction, I-T dept sends notice; She fights back and wins in HC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/lady-signs-poa-with-land-owner-builds-flats-on-land-and-sells-claims-rs-13-crore-tax-deduction-i-t-dept-sends-notice-she-fights-back-and-wins-in-hc/articleshow/126544402.cms On December 1, 2025, the Madras High Court upheld ITAT Chennai’s order, stating that a taxpayer can claim deduction under Section 80-IB without needing to own