Category: Seven Star
*******AT-1 conundrum, revisited
https://www.financialexpress.com/opinion/at-1-conundrum-revisited/4367448 By Rachana Baid & Ajay Tyagi, Repectively Professor, National Institute of Securities Markets, and former SEBI Chairman When we wrote on the Additional Tier-1
*******Woman Holds Two PANs Before and After Marriage, Faces Rs 5.69 Crore Income Addition Over Bank Transactions: ITAT Orders Fresh Verification
https://www.taxscan.in/income-tax/woman-holds-two-pans-before-and-after-marriage-faces-rs-569-crore-income-addition-over-bank-transactions-itat-orders-fresh-verification-read-order The Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) ordered fresh verification of a Rs. 5.69 crore income addition made against a woman
*******Entire Stamp Duty Difference on Joint Property added in One Co-Purchaser’s Hands: ITAT Directs AO to Refer Matter to DVO
https://www.taxscan.in/income-tax/entire-stamp-duty-difference-on-joint-property-added-in-one-co-purchasers-hands-itat-directs-ao-to-refer-matter-to-dvo-read-order The Income Tax Appellate Tribunal (ITAT), SMC Bench, Kolkata, directed the Assessing Officer (AO) to refer the valuation of a jointly purchased property, where
*******Woman declares Rs 4.8 lakh income, has Rs 50 lakh LIC policy: Why she lost her ITAT case
https://www.financialexpress.com/money/woman-has-rs-50-lakh-lic-policy-earns-rs-4-81-lakh-why-itat-rejected-her-claim-4365539 A life insurance policy worth Rs 50 lakh can raise questions about the source of funds if the investment does not match the income
*******Rs 24 crore cash sales in Form 26AS, Rs 4-crore tax demand: How a five-star hotel cook won his case in Delhi High Court
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-24-crore-cash-sales-in-form-26as-rs-4-crore-tax-demand-how-a-five-star-hotel-cook-won-his-case-in-delhi-high-court/articleshow/135060043.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst On February 26, 2024, Mr Lalit who worked as a cook in Hotel Ashoka, got an income tax notice.The notice claimed that
*******Reassessment Notice for AY 2015-16 Issued After Old Six-Year Limit Quashed: ITAT Jaipur
Read more at: https://taxguru.in/income-tax/reassessment-notice-ay-2015-16-issued-year-limit-quashed-itat-jaipur.html Copyright © Taxguru.in Summary: The Jaipur Bench of the Income Tax Appellate Tribunal quashed the reassessment of Manish Kumar Kotawala for
*******Foreign assets disclosure scheme: Who is eligible, what it means for small taxpayers & tax payable
https://www.businesstoday.in/personal-finance/tax/story/foreign-assets-disclosure-scheme-who-is-eligible-what-it-means-for-small-taxpayers-tax-payable-549433-2026-08-15 The Central Board of Direct Taxes (CBDT) has notified the FAST-DS Rules, 2026 and issued a detailed FAQ to explain who can use the
*******Correcting rupee against fundamentals ultimately futile, says RBI’s ex-guv Subbarao
Read more at:https://economictimes.indiatimes.com/industry/banking/finance/correcting-rupee-against-fundamentals-ultimately-futile-says-rbis-ex-guv-subbarao/articleshow/135034910.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Dubai: Trying to correct the rupee to a level that does not reflect economic fundamentals through costly, distortionary short-term measures will ultimately
*******Man sells property, skips ITR filing, faces Rs 90 lakh penalty: Here’s what ITAT said
Man sells property^J skips ITR filing^J faces Rs 90 lakh penalty
*******NRI capital gains tax: When can you use the basic exemption limit to lower your income tax bill?
Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-capital-gains-tax-when-can-you-use-the-basic-exemption-limit-to-lower-your-income-tax-bill/articleshow/134989302.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/nri-capital-gains-tax-when-can-you-use-the-basic-exemption-limit-to-lower-your-income-tax-bill/articleshow/134989302.cms ndian residents and resident Hindu Undivided Families (HUFs) can apply their unused basic exemption limit to certain capital gains that are
*******Transferring immovable property? How TDS compliance is now simpler with new Form 141
Read more at:https://economictimes.indiatimes.com/wealth/tax/transferring-immovable-property-how-tds-compliance-is-now-simpler-with-new-form-141/articleshow/135008328.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/transferring-immovable-property-how-tds-compliance-is-now-simpler-with-new-form-141/articleshow/135008328.cms Taxpayers no longer need to use multiple forms to report tax deducted at source (TDS) on many transactions. Form 141 brings
*******Reassessment Based on Wrong Return-Filing Facts Quashed: ITAT Chandigarh
Read more at: https://taxguru.in/income-tax/reassessment-based-wrong-return-filing-facts-quashed-itat-chandigarh.html Copyright © Taxguru.in https://taxguru.in/income-tax/reassessment-based-wrong-return-filing-facts-quashed-itat-chandigarh.html?utm_source=follow.it Summary: The Chandigarh Bench of the Income Tax Appellate Tribunal allowed the appeal filed by M/s Skycity
