Clipped from: https://taxguru.in/service-tax/service-tax-demanded-mismatch-income-tax-service-tax-return.html Kirodiwal Associates Vs Commissioner (CESTAT Delhi) The appeal challenges Order-in-Appeal No. 172/2023-24 dated 05.10.2023, which upheld a service tax demand against the appellant.
Category: Income Tax
*******Supreme Court upholds 100% Income Tax Addition on Bogus Purchases u/s 69C, Dismisses SLP [Read Order]
Clipped from: https://www.taxscan.in/top-stories/supreme-court-upholds-income-tax-addition-on-bogus-purchases-u-s-c-dismisses-slp-1438272?TRN300=svkWzPcuSAuMkeAfFGxMSBgwasjdwuMBEaffwXnHWjHMVUfCyMCKZiDnbMsacH&LKD333=3210092 The High Court held that the assessee failed to prove the genuineness and source of expenditure. The Supreme Court has upheld the Bombay
*******Ex-Parte Assessment Remanded as Assessee Was Abroad & Notice not Communicated by Consultant
Clipped from: https://taxguru.in/income-tax/ex-parte-assessment-remanded-assessee-notice-communicated-consultant.html Balwinder Pal Singh Vs ITO (ITAT Chandigarh) The appeal concerns the assessee’s challenge to the order dated 06.03.2025 issued by the Commissioner of
*******Cash Deposit Linked to Property Sale: ITAT Sends Matter Back for Fresh Examination
Clipped from: https://taxguru.in/income-tax/cash-deposit-linked-property-sale-itat-sends-matter-fresh-examination.html Ranjit Singh Vs ITO (ITAT Chandigarh) The assessee filed an appeal before the Income Tax Appellate Tribunal, Chandigarh, challenging the order of the
*******Paying sister’s EMI? Get deed registered for part-ownership – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/your-loan-queries-answered-paying-sisters-emi-get-deed-registered-for-part-ownership-4052059/ Get expert answers to critical personal finance questions, including the legalities of paying EMIs for a sibling’s home loan and transferring the property.
*Ignoring mismatch notice may result in a tax demand – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/ignoring-mismatch-notice-may-result-in-a-tax-demand-4052070/ Taxpayers are increasingly getting system-generated intimations under Section 143(1)(a) for discrepancies in returns filed and annual information statement (AIS) or Form 26AS. They must respond by
*******Your wrong tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid it – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/your-wrong-tax-refund-claim-can-raise-a-red-flag-leading-to-tax-notices-and-even-jail-in-case-of-under-reporting-of-income-heres-how-to-avoid-it/articleshow/125453570.cms Your tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid it
*******Is it legal to transfer money to wife’s account to save taxes? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/is-it-legal-to-transfer-money-to-wifes-account-to-save-taxes/articleshow/125438086.cms Many taxpayers find various ways to save tax, but sometimes they follow unconventional ways, such as transferring the amount to another person’s account
New Income Tax Act: Simplified ITR forms and rules effective from April 1, says CBDT chief – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-new-income-tax-act-simplified-itr-forms-and-rules-effective-from-april-1-says-cbdt-chief-4047459/?ref=hometop_hp The Income Tax department will implement simplified ITR forms and rules under the new Income Tax Act, 2025, effective April 1, 2026, CBDT
*Homeowners, not housing society, must pay capital gains tax on sale of development rights to builders, rules ITAT Mumbai – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/homeowners-not-housing-society-must-pay-capital-gains-tax-on-sale-of-development-rights-to-builders-rules-itat-mumbai/articleshow/125343041.cms On October 27, 2025, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled that short term capital gains (STCG) from transferring development rights to a builder under a registered agreement,
*******Flat, FDs worth Rs 69 lakh and a tax shock — ITAT Mumbai ends 6 year tax standoff with this twist – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/flat-fds-and-a-tax-shock-itat-mumbai-ends-6-year-tax-standoff-with-this-twist-502302-2025-11-14 A modest ITR but big-ticket investments triggered a massive tax probe for one Mumbai engineer. The ITAT has overturned the case, raising questions
*******Reopening Beyond Four Years Without New Material Invalid: Gujarat HC Quashes Section 148 Notice
Clipped from: https://taxguru.in/income-tax/reopening-years-material-invalid-gujarat-hc-quashes-section-148-notice.html Unique Tags Private Ltd Vs ACIT (Gujarat High Court) The Gujarat High Court in Unique Tags Private Ltd v. ACIT quashed a reassessment notice issued
*******SEBI flags digital gold risks here are tax rules that might bite investors harder – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/sebi-flags-digital-gold-risks-here-are-tax-rules-that-might-bite-investors-harder-502083-2025-11-13 Digital gold is taxed like physical gold: sold within two years, gains are STCG taxed at slab rates; held longer, LTCG taxed at
*******Petrol pump owner declares Rs 37 lakh income from Rs 37 crore turnover, gets tax notice for Rs 14 lakh unexplained cash deposit, wins case in ITAT Bangalore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/petrol-pump-owner-declares-rs-37-lakh-income-from-rs-37-crore-turnover-gets-tax-notice-for-rs-14-lakh-unexplained-cash-deposit-wins-case-in-itat-bangalore/articleshow/125317886.cms Man gets tax notice for Rs 14 lakh unexplained cash credit, says his business nature is such that his bank has several crores
*******8 key facts every grandchild should know about inheriting grandfather’s property
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/8-key-facts-every-grandchild-should-know-about-inheriting-grandfathers-property/who-inherits-a-grandfathers-property-in-india/slideshow/125291643.cms Who inherits a grandfather’s property in India? Under Indian law, a grandson does not have an automatic right to his grandfather’s house or
*******Bought land above Rs 30 lakh? Tax department may send you income tax notice if you make this simple error and how to avoid it? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/buying-land-why-your-dream-plot-could-turn-into-a-tax-nightmare-and-how-to-avoid-it/articleshow/125224394.cms Buying a plot of land can quickly turn from a significant milestone in life into a tax nightmare if you come under the
*******Joint Development Agreements (JDA) and Tax Implications
Clipped from: https://taxguru.in/income-tax/joint-development-agreements-tax-implications.html A Joint Development Agreement (JDA) is a registered contract between a landowner and a developer, wherein the landowner allows the developer to develop
*******New Aadhaar App launched: Carry your Aadhaar on phone, share ID securely with face scan – Know key features – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-aadhaar-app-launched-carry-your-aadhaar-on-phone-share-id-securely-with-face-scan-know-other-key-features-4037769/ New Aadhaar App: Carrying your Aadhaar card everywhere is now a thing of the past. The Unique Identification Authority of India (UIDAI) has introduced a new Aadhaar
*******Now fix ITR errors faster — here’s how CBDT’s latest move speeds up your tax refund – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/now-fix-itr-errors-faster-heres-how-cbdts-latest-move-speeds-up-your-tax-refund-501344-2025-11-08 Taxpayers struggling with refund delays or errors in their income tax returns may soon find the process far less cumbersome. The government has
*******can any guidance be given on remittances by a son to his parents in India on…
Clipped from: https://www.perplexity.ai/search/can-any-guidance-be-given-on-r-TuooPkXFQfi4te.nXIRbHA#0 Yes, regular remittances by a son to his parents in India are permitted and are a commonly used practice for family maintenance. The
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