https://www.financialexpress.com/opinion/holding-a-mirror-to-gdp-numbers/4338206 As someone said, tongue in cheek, people don’t eat GDP numbers. People eat food, wear clothes and footwear, send their children to school, buy medicines, use
Category: Five Star
*****Income Tax Dept must Establish Assessee’s Share before Taxing Entire Joint Property Purchase: ITAT
https://www.taxscan.in/top-stories/income-tax-dept-must-establish-assessees-share-before-taxing-entire-joint-property-purchase-itat-read-order-1451296 The Rajkot bench of Income Tax Appellate Tribunal ( ITAT ) held that the income tax department cannot tax the entire joint property purchase
*****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
*****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
*****घर विकल्यावर कर कसा वाचवावा? जाणून घ्या कायदेशीर मार्ग
https://www.loksatta.com/business/personal-finance/house-sale-capital-gains-tax-saving-guide-marathi-aam-93-6122182 प्रवीण देशपांडे अन्न, वस्त्र आणि निवारा या माणसाच्या मुलभूत गरजा आहेत. यामध्ये सर्वात खर्चिक, जिव्हाळ्याची गरज म्हणजे निवारा. स्वतःचे घर असणे हे आपल्या मनातील
*****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
*****Wife gets income tax notice after husband sells joint property Rs 14 lakh below market price; she fights back and wins the case in ITAT Kolkata
Read more at:https://economictimes.indiatimes.com/wealth/tax/wife-gets-income-tax-notice-after-husband-sells-joint-property-rs-14-lakh-below-market-price-she-fights-back-and-wins-the-case-in-itat-kolkata/articleshow/133654081.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mrs Shome from Birati received an income tax notice after her husband sold their joint property for Rs 16.31 lakh in FY2014-2015. Although the
*****Rs 16 lakh cash seized in income tax raid, tax officer calls it unexplained cash; Taxpayer claims it to be family money, he fights and wins the case in ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-16-lakh-cash-seized-in-income-tax-raid-tax-officer-calls-it-unexplained-cash-taxpayer-claims-it-to-be-family-money-he-fights-and-wins-the-case-in-itat-mumbai/articleshow/133647793.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Anikesh Banerjee, Judicial Member, and Om Prakash Kant, Accountant Member of ITAT Mumbai, recently provided relief from an unexplained cash tax notice under Section
*****Finance Act 2026: Updated return rules change for taxpayers reporting reduced losses
Read more at:https://economictimes.indiatimes.com/wealth/tax/finance-act-2026-updated-return-rules-change-for-taxpayers-reporting-reduced-losses/articleshow/133596062.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst ax laws do not always give taxpayers enough time to discover a mistake. An original return has its due date, a belated
*****Additions Made in Intimation U/s 143(1) Cannot Be Challenged in Appeal Against Scrutiny Assessment: ITAT Bangalore
Read more at: https://taxguru.in/income-tax/bengaluru-itat-additions-intimation-u-s-143-1-challenged-appeal-scrutiny-assessment-u-s-143-3.html?utm_source=follow.it Copyright © Taxguru.in Bengaluru ITAT: Additions Made in Intimation U/s 143(1) Cannot Be Challenged in Appeal Against Scrutiny Assessment U/s 143(3) The
*****‘AI new way of running a bank’: RBI Governor Sanjay Malhotra outlines governance roadmap, flags 7 AI risks
Reserve Bank of India (RBI) Governor Sanjay Malhotra has urged Indian banks to embrace artificial intelligence (AI) as a major tool to transform lending, financial inclusion, customer service, operational efficiency
*****ITAT Delhi Quashes Assessment as Section 153C, Not Section 143(3), Was Applicable
Read more at: https://taxguru.in/income-tax/itat-delhi-quashes-assessment-section-153c-not-section-143-3-applicable.html Copyright © Taxguru.in https://taxguru.in/income-tax/itat-delhi-quashes-assessment-section-153c-not-section-143-3-applicable.html The Delhi Bench of the Income Tax Appellate Tribunal allowed the appeal filed by Raja Varshney against the
*****Panaji ITAT Deletes ₹32.25 Lakh Section 68 Addition After Assessee Explains Source
Read more at: https://taxguru.in/income-tax/panaji-itat-deletes-rs-32-25-lakh-section-68-addition-assessee-explains-source.html Copyright © Taxguru.in https://taxguru.in/income-tax/panaji-itat-deletes-rs-32-25-lakh-section-68-addition-assessee-explains-source.html Panaji ITAT Deletes ₹32.25 Lakh Section 68 Addition: Once Assessee Explains Nature, Source and Even “Source of Source”,
*****Section 143(1) to 245: Decoding the 7 income tax notices every taxpayer should know
https://www.businesstoday.in/personal-finance/tax/story/section-1431-to-245-decoding-the-7-income-tax-notices-every-taxpayer-should-know-546756-2026-08-04 Here’s a look at the seven key income tax notices taxpayers should understand after filing their ITR. Section 143(1): Intimation This is the most
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