Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/employer-deducted-tds-but-didnt-deposit-it-itat-kolkata-saves-employee-from-rs-14-lakh-tax-demand/articleshow/125883350.cms On November 24, 2025, the Income Tax Appellate Tribunal (ITAT) in Kolkata provided relief to an employee who received a tax demand notice because his employer deducted
Category: Income Tax
*****Man sells Delhi property, shifts to Australia; tax dept adds Rs 40 lakh as unexplained cash credit, but he wins in ITAT Delhi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/man-sells-delhi-property-shifts-to-australia-tax-dept-adds-rs-40-lakh-as-unexplained-cash-credit-but-he-wins-in-itat-delhi/articleshow/125710590.cms Income Tax Appellate Tribunal (ITAT), Delhi, ruled that taxpayers can claim Section 54 capital gains tax exemption on the sale of an Indian residential property
*******UAE based taxpayer earned Rs 4 crore income in India on which TDS was deducted but didn’t file ITR, got tax notice; wins case in ITAT Delhi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/uae-based-taxpayer-earned-rs-4-crore-income-in-india-on-which-tds-was-deducted-but-didnt-file-itr-got-tax-notice-wins-case-in-itat-delhi/articleshow/125819040.cms On November 19, 2025, the Income Tax Appellate Tribunal ruled that if a non-resident taxpayers’ total income from India consists solely of dividends, interest, etc
*Claimed Property Gift by Father-in-Law Mistakenly Registered as Sale: ITAT Remands Capital Gain Addition u/s 50C for Fresh Examination [Read Order]
Clipped from: https://www.taxscan.in/top-stories/claimed-property-gift-by-father-in-law-mistakenly-registered-as-sale-itat-remands-capital-gain-addition-us-50c-for-fresh-examination-1441627?TRN300=CEbWZlCuCAdqkvUkeikMSBggAsZuGUMKeUbVIbPXgzHMEUfSiMcKJyuPkMCAsH&LKD333=3327360 The Tribunal observed that issue could not be decided without proper examination of all relevant documents and supporting evidence The Bangalore Bench of the
*Tax dept seized mother’s 263 gram gold; son fights in ITAT Mumbai and wins: Know what CBDT gold jewellery circular says – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/tax-dept-seized-mothers-263-gram-gold-son-fights-in-itat-mumbai-and-wins-know-what-cbdt-gold-jewellery-circular-says/articleshow/125709830.cms On September 29, 2021, during a tax raid at Mr. Nilawar’s house, the income tax department discovered several assets, including cash, gold and more. Following
*Man sells 350 gram gold for Rs 11 lakh, income tax dept doubts it and sends tax notice for unexplained money; he wins case in ITAT Ahmedabad – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/man-sells-350-grams-gold-for-rs-11-lakh-income-tax-dept-doubts-it-and-sends-tax-notice-for-unexplained-money-he-wins-case-in-itat-ahmedabad/articleshow/126393388.cms Mr. Soni from Ahmedabad, Gujarat, received a tax notice after selling 350 grams of gold to another party on November 15, 2016. He argued that he is
*****Capital Gains Must Reflect Only Real Consideration Received: ITAT quashes S.263 Revision [Read Order]
Clipped from: https://www.taxscan.in/top-stories/capital-gains-must-reflect-only-real-consideration-received-itat-quashes-s263-revision-1437578?TRN300=cVBgJPCDSauMbeDAxEDMcKWwasZUGDMbEuaxEuPXgjgMEuFsiMcBjYDnkMcAsh&LKD333=3324504 Section 48 mandates computation of capital gains only on the “full value of consideration received or accruing to the assessee The principle that
*Big win for NRI taxpayers: ITAT Chennai rules he qualifies as non-resident, no tax in India on overseas earnings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/big-win-for-nri-taxpayers-itat-chennai-rules-he-qualifies-as-non-resident-no-tax-in-india-on-overseas-earnings/articleshow/126335786.cms On October 31, 2025, the Income Tax Appellate Tribunal (ITAT) Chennai ruled that just because someone holds the title of managing director, it doesn’t mean they aren’t
*****20% Pre-Deposit Not Mandatory for Grant of Stay u/s 220(6) of Income Tax Act: Delhi HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/20-pre-deposit-not-mandatory-for-grant-of-stay-us-2206-of-income-tax-act-delhi-hc-1441169?TRN300=CEbwzPSucAUqBVcxGGvMSKWWASJdGUMKEShgGVqxWjwMVUfsyMSbZydqBMCaSh&LKD333=3312340 The Delhi High Court held that payment of 20% of the disputed tax demand is not a mandatory condition for grant of stay
*****December 31 ITR deadline over: Here’s the limited path to getting your tax refund – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/december-31-itr-deadline-over-heres-the-limited-path-to-getting-your-tax-refund-509528-2026-01-05 Under India’s income tax rules, December 31 is the last date to file a revised return or a belated return for a given assessment year. Once this
*******Rs 10 lakh penalty for foreign asset non-disclosure? Facts every NRI should know before panicking – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/rs-10-lakh-penalty-for-foreign-asset-non-disclosure-facts-every-nri-should-know-before-panicking-4098089/ An NRI’s online query about missed foreign asset disclosure during Resident and Ordinarily Resident (ROR) years has triggered confusion and fear of penalties.
*****Tax Dept accuses lady of taking Rs 3 crore cash in property deal; ITAT Mumbai disregards WhatsApp chat evidence, says no proof, no tax – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-dept-accuses-lady-of-taking-rs-3-crore-cash-in-property-deal-itat-mumbai-disregards-whatsapp-chat-evidence-says-no-proof-no-tax/articleshow/126345037.cms On October 27, 2025 Smt. Shah, a property owner from Pune, won her case at the Income Tax Appellate Tribunal (ITAT) in Mumbai. This victory came
*Will is the last word in inheritance with probate now struck off – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/will-is-the-last-word-in-inheritance-with-probate-now-struck-off-4095729/ The Indian government has abolished the mandatory requirement to probate a Will, a major reform under the Repealing and Amending Act, 2025. This
*Higher exemption, lower rates: Is the New Tax Regime phasing out the Old Tax Regime? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/higher-exemption-lower-rates-is-the-new-tax-regime-phasing-out-the-old-tax-regime-509235-2026-01-02 The way Indians pay income tax is changing, with the New Tax Regime rapidly gaining ground over the traditional deductions-based system. Over successive
*Tax liability on capital gains as per ownership share in house – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/your-income-tax-queries-answered-tax-liability-on-capital-gains-as-per-ownership-share-in-house-4095796/ Learn how to calculate and divide capital gains tax for jointly owned property and what to do if you missed the December 15
*******Decade-old income tax demands resurface on portal, leaving taxpayers scrambling for proof – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/decade-old-income-tax-demands-resurface-on-portal-leaving-taxpayers-scrambling-for-proof/articleshow/126312362.cms Synopsis Old income tax demands from as early as 2005 are resurfacing on tax portals, with accumulated interest often exceeding the principal amount.
*Five important changes in Income Tax Act and procedures in 2025 that will impact your future taxation
Clipped from: https://economictimes.indiatimes.com/wealth/tax/five-important-changes-in-income-tax-act-and-procedures-in-2025-that-will-impact-your-future-taxation/articleshow/126271623.cms 2025 has brought about several changes in the income tax laws and procedures. 2025 also saw the deadline for income tax return (ITR) filing being extended twice,
*******JAO vs. FAO: Section 148 Reassessment Powers – Evolving Delhi HC and SC Position
Clipped from: https://taxguru.in/income-tax/jao-vs-fao-section-148-reassessment-powers-evolving-delhi-hc-sc-position.html JAO vs. FAO: Reassessment Powers under Section 148 – Evolving Delhi High Court and Apex Court Position It is pertinent to note that
*****Stamp duty vs deal value: Homebuyer gets relief as ITAT Mumbai rejects addition of Rs 18 lakh income by tax dept for property valuation gap – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/stamp-duty-vs-deal-value-homebuyer-gets-relief-as-itat-mumbai-rejects-addition-of-rs-18-lakh-income-by-tax-dept-for-property-valuation-gap/articleshow/126264552.cms On December 16, 2025, the Income Tax Appellate Tribunal (ITAT) Mumbai granted relief to Mr. Naik from Bhandup, regarding an income addition made by the
*RBI cash transaction limits explained: How much cash can you use while buying gold, property or lending to your friend? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/rbi-cash-transaction-limits-explained-how-much-cash-can-you-use-while-buying-gold-property-or-lending-to-your-friend/articleshow/126271114.cms RBI cash transaction limits explained: Check details Many people use cash to buy groceries, meals, or other small purchases. Most of the time,
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