Category: Seven Star

A cooperative housing society claimed a Rs 37.82 lakh tax deduction on interest income. The Income Tax Department rejected the claim and went a step

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-85-3-lakh-cash-gifts-from-relatives-deposited-in-bank-trigger-unexplained-deposit-income-tax-notice-taxpayer-contests-and-wins-case-in-itat-chennai/articleshow/134685488.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Amirtharaj from Mylai Ranganathan Street, Thygarayanagar (Chennai), got cash gifts totalling Rs 85.03 lakh from his relatives, he executed gift

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-67-lakh-ancestral-jewellery-declaration-in-itr-triggers-income-tax-notice-of-unexplained-credit-heres-why-lady-won-at-itat-mumbai/articleshow/134694269.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mrs Parikh from Vile Parle West, Mumbai, submitted Schedule AL in her income tax return (ITR) for the first time after

Read more at: https://taxguru.in/income-tax/redevelopment-transit-rent-capital-receipt-actual-spending-itat-mumbai.html Copyright © Taxguru.in Summary: For assessment year 2017-18, the ITAT Mumbai considered an appeal against reassessment proceedings in which three additions

l Is there any tax-free threshold for dividends received by senior citizens? —Rohan Chaudhary Dividend income is taxable in the hands of investors at their

Read more at:https://economictimes.indiatimes.com/wealth/tax/dubai-nri-bought-rs-2-31-crore-property-didnt-file-itr-got-income-tax-notice-she-fights-back-and-wins-in-itat-on-these-grounds/articleshow/134631463.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mrs Chudamasa, a Dubai-based NRI, did not file her income tax return for the assessment year 2017-18. However, the Income Tax Department

Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-child-sends-money-to-parents-in-india-why-a-tax-free-gift-can-still-trigger-an-income-tax-notice/articleshow/134632689.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst An NRI may send money to his or her parents in India for household expenses, medical needs, investments, or other family requirements.

Read more at: https://taxguru.in/income-tax/cbdt-amends-tds-rules-non-resident-immovable-property-transfers.html?utm_source=follow.it Copyright © Taxguru.in Summary: The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Fifth Amendment) Rules, 2026, effective from

The Supreme Court stayed the Punjab and Haryana High Court judgment which had struck down Section 147A of the Income Tax Act, 1961 as unconstitutional.

Read more at: https://taxguru.in/income-tax/rajasthan-high-court-upholds-section-147-explanation-subsequent-escaped-income.html?utm_source=follow.it Copyright © Taxguru.in https://taxguru.in/income-tax/rajasthan-high-court-upholds-section-147-explanation-subsequent-escaped-income.html?utm_source=follow.it Papu Ram Vs ACIT (Rajasthan High Court) Once the Reassessment Door Is Validly Opened, AO Can Walk into

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-2-42-lakh-fd-investment-and-rs-1-06-lakh-cash-deposits-no-itr-filed-got-income-tax-notice-senior-citizen-wins-case-in-itat-jaipur-after-9-year-fight/articleshow/133969153.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The Income Tax Department sent a tax notice to Mrs Devi (age 83 years old) from Vidhyadhar Nagar, Jaipur as she made

https://www.financialexpress.com/money/income-tax/selling-a-redeveloped-flat-within-2-years-you-may-face-higher-capital-gains-tax/4334414 When a residential building goes through redevelopment, existing flat owners often receive a new and larger flat in place of their old one.  But it can

https://www.financialexpress.com/money/income-tax/man-with-rs-41-45-lakh-in-bank-deposits-faces-income-tax-action-heres-what-itat-said/4333620 A tax notice from the Income Tax Department over unexplained cash deposits can be a serious issue for any taxpayer, particularly when the case involves old transactions and

Read more at: https://taxguru.in/income-tax/no-section-41-1-68-addition-suspicion-itat-mumbai.html?utm_source=follow.it Copyright © Taxguru.in https://taxguru.in/income-tax/no-section-41-1-68-addition-suspicion-itat-mumbai.html?utm_source=follow.it Mere non-furnishing of confirmations and supporting documents during assessment does not establish cessation of a trading liability under Section

Read more at: https://taxguru.in/income-tax/itat-delhi-quashes-reopening-rs-50-lakh-threshold-sustains-profit-addition-unaccounted-purchases.html?utm_source=follow.it Copyright © Taxguru.in https://taxguru.in/income-tax/itat-delhi-quashes-reopening-rs-50-lakh-threshold-sustains-profit-addition-unaccounted-purchases.html?utm_source=follow.it Where alleged unaccounted purchases have corresponding sales and only the embedded profit represents real income escaping assessment, the

Read more at: https://taxguru.in/income-tax/sale-price-not-capital-gain-itat-restores-rs-2-10-crore-addition-rs-69-45-lakh-penalty.html?utm_source=follow.it Copyright © Taxguru.in Sale Price Is Not Capital Gain & Penalty Cannot Outlive Its Foundation: ITAT Restores ₹2.10-Crore Addition & ₹69.45-Lakh Penalty

Read more at: https://taxguru.in/income-tax/section-148-notice-late-itat-quashes-rs-50-lakh-property-addition.html?utm_source=follow.it Copyright © Taxguru.in Signed in March but Sent in April: Notice u/s 148 Misses the Limitation Train & ₹50-Lakh Property Addition Gets

Read more at:https://economictimes.indiatimes.com/wealth/tax/hong-kong-based-son-gets-tax-notice-after-father-buys-insurance-policy-in-his-name-with-cash-he-fights-back-and-wins-case-in-itat-mumbai/articleshow/131505565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Agarwal originally from Goregaon East, but now living in Hong Kong for the past 15 years, gave his father Rs