Clipped from: https://taxguru.in/income-tax/lal-dora-property-valuation-section-50c-clarified.html ACIT Vs Guptajee & Company (ITAT Delhi) ITAT Delhi: Lal Dora Property to Be Valued as Agricultural/Residential for Section 50C – Commercial Use
Category: Seven Star
*******Email Change Ignored by Department: Calcutta HC Sets Aside S.148A Reassessment Notice [Read Order]
Clipped from: https://www.taxscan.in/top-stories/email-change-ignored-by-department-calcutta-hc-sets-aside-s148a-reassessment-notice-1442253?TRN300=cEKGZnCUsAUqKvvkWAEMsBGGASzuwDMkevbWaEMhZYAMvDFcyMSKjyDnKMcAXK&LKD333=3372397 The Court observed that failure to serve notice on the assessee’s updated email ID violated principles of natural justice The Calcutta High Court
*******Taxpayer cannot be Penalised for Mistake of Previous Tax Consultant: ITAT Grants Relief [Read Order}
Clipped from: https://www.taxscan.in/top-stories/taxpayer-cannot-be-penalised-for-mistake-of-previous-tax-consultant-itat-grants-relief-1442114?TRN300=cEKGZnCUsAUqKvvkWAEMsBGGASzuwDMkevbWaEMhZYAMvDFcyMSKjyDnKMcAXK&LKD333=3372386 When substantial justice and technical considerations are pitted against each other, the cause of substantial justice deserves to be preferred for the other
*******India’s exports dream likely to run into the hard wall of realities
Clipped from: https://www.business-standard.com/opinion/columns/india-s-exports-dream-likely-to-run-into-the-hard-wall-of-realities-126012500772_1.html Tripling India’s exports by 2035 needs tiger-like performance, open markets and ruthless reform-conditions history suggests India does not yet have The Indian government
*******What the Budget must present in a tough global and job environment | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/what-the-budget-must-present-in-a-tough-global-and-job-environment-126012600890_1.html As the Union Budget nears, the focus must shift to debt, deficits, and borrowing from household savings, and how these choices affect private
*******Portal Notice Alone Not Enough: GST Assessment Sent Back for Fresh Decision
The respondent acknowledged that notices had been uploaded on the GST portal and fairly admitted that no personal hearing was provided prior to passing the
*******Bolster dispute platform, skip ombudsman creation for effective resolution
Clipped from: https://www.business-standard.com/opinion/columns/bolster-dispute-platform-skip-ombudsman-creation-for-effective-resolution-126012500688_1.html Smart ODR works well for resolving individual disputes. What is required is the routine publication of anonymised orders so that the same disputes
*******Inherited property, money or investments? Six tax questions every heir needs answers for – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/inherited-property-money-or-investments-six-tax-questions-every-heir-needs-answers-for/articleshow/127358398.cms Estate planning may ensure a smooth transition of assets to legal heirs, but many inheritors remain unaware of how the income from investments
*******Tax dept seizes Rs 5 lakh foreign currency; man wins case in ITAT Mumbai; Know how much forex you can keep at home – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-dept-seizes-rs-5-lakh-foreign-currency-man-wins-case-in-itat-mumbai-know-how-much-forex-you-can-keep-at-home/articleshow/127283278.cms On September 29, 2021, during an income tax raid at Mr. Prashant’s home, the income tax department discovered several assets, including foreign currency cash, gold and more.
*******Big relief for PF nominees: Supreme Court says govt can’t deny payout for lack of succession certificate even for amounts over Rs 5,000 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/big-relief-for-pf-nominees-supreme-court-says-govt-cant-deny-payout-for-lack-of-succession-certificate-even-for-amounts-over-rs-5000/articleshow/127158631.cms Listen to this article in summarized format On January 7, 2026, the Supreme Court of India ruled that even if the General Provident Fund (GPF) balance is
*******Faceless tax assessment lost its way: Why Budget 2026 must fix system, not expand compliance burden – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/faceless-tax-assessment-lost-its-way-why-budget-2026-must-fix-trust-not-expand-compliance-burden/articleshow/127267051.cms Listen to this article in summarized format Union Budget 2026 comes at a critical juncture for India’s tax administration. With the Income-tax Act, 2025 (the “New
*******Change of Opinion: ITAT Pune Quashes Reassessment; Section 68 & 40(a)(ia) Additions Fail
Clipped from: https://taxguru.in/income-tax/reassessment-quashed-change-opinion-evidence.html Vatsalabai Kabhari Deore Vs ITO (ITAT Pune) ITAT Pune Quashes Reassessment as Change of Opinion: Section 68 & 40(a)(ia) Additions Fail Without New
*******ITAT Pune Remands Capital Gains to AY 2011-12; Revised Computation Allowed
Clipped from: https://taxguru.in/income-tax/capital-gains-shifted-jv-transfer-occurred-earlier-year.html Popatrao Dashrathrao Suryawanshi Vs ITO (ITAT Pune) JV Transfer Took Place in AY 2011-12; ITAT Pune Allows Revised Computation and Remands Capital Gains
*******ITAT Kolkata Allowed Section 54 Exemption Despite Incomplete House Construction
The Kolkata Bench of the ITAT allowed the appeal of Ramautar Saraf (HUF) for AY 2016-17, holding that deduction under section 54 cannot be denied
*******Managing the small things – The HinduBusinessLine
https://www.thehindubusinessline.com/opinion/managing-the-small-things/article70526379.ece Clipped from: https://www.thehindubusinessline.com/opinion/managing-the-small-things/article70526379.ece GST rules need a tweak to help businesses Swami Vivekananda once said if you really want to judge the character of a
*******Dubai-based taxpayer gets I-T notice for unexplained investment in Rs 2 crore Mumbai property; he fights back and gets relief from ITAT Mumbai – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/dubai-based-taxpayer-gets-i-t-notice-for-unexplained-investment-in-rs-2-crore-mumbai-property-he-fights-back-and-gets-relief-from-itat-mumbai/articleshow/125958976.cms On November 14, 2025, Mr. Ostwal won his income tax case at ITAT Mumbai, as the tribunal deleted Rs 2 crore addition to
*******NRI property sellers lose lakhs to TDS delays; why Budget 2026 must step in to simplify the tax rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/nri-property-sellers-lose-lakhs-to-tds-delays-why-budget-2026-must-step-in-to-simplify-the-tax-rules/articleshow/126666575.cms The current tax regulations around sale of property are quite complex, leading to significant fund blockage for non-resident Indians (NRIs) who are selling property. A
*******Reassessment Invalid Without Section 143(2) After Return u/s 148: ITAT Pune
lipped from: https://taxguru.in/income-tax/reassessment-invalid-section-143-2-return-u-s-148.html Bharat Kantilal Chengede Vs ITO (ITAT Pune) Reassessment Quashed for Non-Issue of Section 143(2) Notice Despite Belated Return Filed u/s 148- Pune Trib
*******Appeal Dismissal for Non-Prosecution Invalid When Notices Sent to Wrong Email Address
Clipped from: https://taxguru.in/income-tax/appeal-dismissal-non-prosecution-invalid-notices-wrong-email-address.html Veenus Jewellars Vs ITO (ITAT Hyderabad) Failure to Follow Specified Mode of Communication Invalidates Dismissal for Non-Prosecution: ITAT Hyderabad The ITAT Hyderabad condoned a
*******Centre plans collateral-free microloans for gig and domestic workers | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/centre-plans-collateral-free-microloans-for-gig-and-domestic-workers-126011700142_1.html A new scheme will provide loans of up to ₹10,000 to gig workers and domestic helps, modelled on PM-SVANidhi, to support entrepreneurship and
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