Clipped from: https://zerodha.com/z-connect/varsity/receiving-money-from-your-nri-relative-how-to-use-it-and-its-taxation India is one of the top countries with the largest diaspora residing in nations like the UAE, the US, and Saudi Arabia. We
Category: Income Tax
*******Monthly remittances by a son to his parents –some case laws
Yes, Anil — here are some relevant case law references and interpretations that help clarify the non-taxability of gifts from relatives, especially in the context
*******Tax Treatment of Gifts– IT Department Note
18. Tax treatment of gifts.pdf https://incometaxindia.gov.in/Tutorials/18.%20Tax%20treatment%20of%20gifts.pdf
*Reassessment under s.147 and s.68 sustained for alleged LTCG due to lack of genuineness and documentary insufficiency
The ITAT upheld reassessment under s.147, finding the AO’s formation of belief was based on independent, cogent material from the Investigation Wing and not on
*******Section 56(2) exemption upheld for funds from spouse of assessee’s sister; treated as gift, not taxable income
ITAT allowed the assessee’s appeal and deleted the addition under section 56(2) arising from a purported gift, holding that the amount received from the spouse
*******Wife gets tax notice for purchasing Rs 51 lakh property but not filing ITR, she fights back and wins in ITAT Ahmedabad – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/wife-gets-tax-notice-for-purchasing-rs-51-lakh-property-but-not-filing-itr-she-fights-back-and-wins-in-itat-ahmedabad/articleshow/125162578.cms Wife was sent tax notice as she did not file ITR and registrar records shows her purchasing Rs 51 lakh property, wins case
*******Now get faster tax refunds and easier ITR corrections: New CBDT rules explained – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/now-get-faster-tax-refunds-and-easier-itr-corrections-new-cbdt-rules-explained/articleshow/125163417.cms The Central Board of Direct Taxes (CBDT), issued a notification on October 27, 2025, empowering the Commissioner of Income Tax (CPC), Bengaluru, to exercise concurrent
*******Wife gets tax notice for purchasing Rs 51 lakh property but not filing ITR, she fights back and wins in ITAT Ahmedabad – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/wife-gets-tax-notice-for-purchasing-rs-51-lakh-property-but-not-filing-itr-she-fights-back-and-wins-in-itat-ahmedabad/articleshow/125162578.cms Wife was sent tax notice as she did not file ITR and registrar records shows her purchasing Rs 51 lakh property, wins case
*******Taxation of Capital Gain in India – FAQs
lipped from: https://taxguru.in/income-tax/taxation-capital-gains-india-frequently-asked-questions-faqs.html Summary (Approx. 300 Words):A capital asset refers to any property owned by a taxpayer, whether or not related to business or profession, and
*****Delhi HC Quashes Reassessment Based on New Grounds Not Mentioned in 148A(b) Notice
Clipped from: https://taxguru.in/income-tax/delhi-hc-quashes-reassessment-based-grounds-mentioned-148ab-notice.html Ernst And Young Emeia Services Limited Vs ACIT (Delhi High Court) The Delhi High Court addressed a petition filed by Ernst And Young Emeia Services Limited
*****NRI Property Sale: Decoding Capital Gains, TDS Obligations under IT Act, and Repatriation Compliance under FEMA
Clipped from: https://www.taxscan.in/top-stories/nri-property-sale-decoding-capital-gains-tds-obligations-under-it-act-and-repatriation-compliance-under-fema-1436452?TRN300=SvkwjnCuCAuPbdYIsAfMSBgwaCjdWDMKUyycAFnhGJgMvUfsIMSkzyDPbMSAsh&LKD333=3134337 NRI sellers must ensure the buyer provides a copy of the TDS certificate in a timely manner, as this document is essential for
*****Tax Audit u/s 44AB Not Applicable When Turnover is Below ₹60 Lakh: ITAT Deletes Addition [Read Order]
Clipped from: https://www.taxscan.in/top-stories/tax-audit-not-applicable-when-turnover-is-below-lakh-itat-deletes-addition-1436438?TRN300=SvkwjnCuCAuPbdYIsAfMSBgwaCjdWDMKUyycAFnhGJgMvUfsIMSkzyDPbMSAsh&LKD333=3134382 The Tribunal held that the requirement for auditing account books under Section 44AB was not applicable for the Assessment Year 2016-17 if the
*******Wife wins case against tax department after getting Rs 1.85 crore compensation from builder for construction delay; ITAT Mumbai rules in her favour – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/wife-wins-case-against-tax-department-after-getting-rs-1-85-crore-compensation-from-builder-for-construction-delay-itat-mumbai-rules-in-her-favour/articleshow/125075258.cms A husband-wife duo entered into a development agreement with a builder from Mumbai, which stated that they would receive a certain number of apartments
*******I built a house on inherited land, how will I be taxed if I sell it now? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/i-constructed-a-house-on-inherited-land-how-will-i-be-taxed-if-i-sell-it-now/articleshow/125082692.cms Capital gains taxation on property sale Our panel of experts will answer questions related to any aspect of personal finance. If you have
*******Taxation of Capital Gain in India – FAQs
Clipped from: https://taxguru.in/income-tax/taxation-capital-gains-india-frequently-asked-questions-faqs.html Summary (Approx. 300 Words):A capital asset refers to any property owned by a taxpayer, whether or not related to business or profession, and
*No Hypothetical Income Can Be Taxed: Bombay HC on Cancelled Land Sale Agreements
Clipped from: https://taxguru.in/income-tax/hypothetical-income-brought-tax.html CIT Vs Lok Housing & Constructions Limited (Bombay High Court) Bombay High Court held that no hypothetical income of the assessee could have been
*******Bought Property Over ₹50 Lakh? Ensure your PAN-Aadhaar Link to Avoid High TDS Liability
Clipped from: https://www.taxscan.in/top-stories/bought-property-over-50-lakh-ensure-your-pan-aadhaar-link-to-avoid-high-tds-liability-1431542?TRN300=SvKGjlCUSADqkUiGCfJMsKgwAczDGdMbDiGcfJqhGJgMvdfciMCbJidPbMSAsx&LKD333=3125338 Buyers who had purchased property above ₹50 lakh from sellers whose PAN were inoperative were served with short-deduction notices. The Central Board of Direct
*******Man gets tax notice for depositing Rs 8 lakh in bank account, tax dept deems it as presumptive business income; he wins case in ITAT Delhi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/man-gets-tax-notice-for-depositing-rs-8-lakh-in-bank-account-tax-dept-deems-it-as-presumptive-business-income-he-wins-case-in-itat-delhi/articleshow/124889465.cms Tax department treats Rs 8 lakh cash deposit as presumptive business income; ITAT Delhi gives relief to taxpayer When Mr. Kumar deposited Rs
*****Buyer of auctioned property to get Rs 2 crore refund as bank failed to disclose the pending legal dispute; Telangana High Court order – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/buyer-of-auctioned-property-to-get-rs-2-crore-refund-as-bank-failed-to-disclose-the-pending-legal-dispute-telangana-high-court-order/articleshow/124985590.cms Property buyer paid Rs 2 crore advance for a Rs 8 crore property auctioned by a bank; but property was tangled in legal
*******Tax dept’s Rs 22-crore notice based on WhatsApp chat struck down by ITAT Delhi for lack of credible proof – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/tax-depts-rs-22-crore-notice-based-on-whatsapp-chat-struck-down-by-itat-delhi-for-lack-of-credible-proof/articleshow/124994878.cms Man gets tax notice for Rs 22 crore unexplained investment income because someone else’s WhatsApp chat said his name for this income, ITAT
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