Employee files ITR using Form 16, gets Rs 51.2 lakh tax penalty; ITAT ruling offers key lessons for taxpayers
A taxpayer who claimed a tax exemption based on the details mentioned in his employer-issued Form 16 was hit with a steep […]
ITAT – Income Tax News
Registered sale deed sacrosanct, rules Income Tax Appellate Tribunal
A registered sale deed carries with it a formidable presumption of validity and genuineness. Registration is a solemn act that
Lady took loan for investment into venture capital fund, claimed Rs 1.49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark ruling
A lady from Juhu, Mumbai, submitted her income tax return (ITR) and claimed an interest deduction of Rs 1.49 crore
Income Tax appellate body upholds rejection of Paisabazaar’s Rs 145.91 crore expense claim
Paisabazaar, the digital lending arm of PB Fintech, has received an order from the Commissioner of Income Tax (Appeals) (CITA)
Rs 1 crore gold seized from taxpayer during search with no purchase bills — can it be taxed? ITAT ruling explains
A recent ruling by the Income Tax Appellate Tribunal (ITAT) has once again highlighted how Indian tax laws recognise the
Cash gifts from family can be taxed if source, creditworthiness not proven, rules ITAT
Large cash transactions within families often come under the scanner of the income-tax department, especially when the source and financial
Sunetra Pawar gets relief: ITAT quashes ‘undisclosed income’ of Rs 32 crore
In her capacity as legal heir of her late husband, deputy CM Sunetra Ajit Pawar has secured relief from the
Man pays Rs 11.83 lakh credit card bill, faces tax addition on entire amount as I-T dept flags it as income — ITAT steps in
Frequent or high-value credit card usage can bring you under the tax department’s radar through Statement of Financial Transactions (SFT)
Woman keeps Rs 15 lakh cash withdrawn from bank at home, deposits it later — faces tax trouble, ITAT intervenes
In a ruling that will resonate with thousands of taxpayers who deposited cash during the 2016 note ban, the Income
Why disclosing foreign ESOPs in ITR matters: Here is the recent ITAT ruling
In a recent ruling on non-disclosure of foreign Employee Stock Option Plan (ESOP) shares, the Chennai bench of Income Tax
