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Last Updated:November 15, 2025, 4:59 PM IST The ITAT’s ruling highlighted complications faced by taxpayers in high-value financial transactions after an engineer argued against an Assessing Officer. The taxpayer reported investments worth Rs 69 lakh. (representative image) The Income Tax Appellate Tribunal (ITAT) in Mumbai recently deleted a major addition made by the tax authorities…
Last Updated:October 25, 2025, 1:36 PM IST Income Tax Appellate Tribunal ruled for a man in a Rs 1.65 crore jewellery case, saying assets in his wife’s tax returns can’t be taxed again, ending a long dispute Experts advice proper documentation for high-value purchases to avoid disputes. The Income Tax Appellate Tribunal (ITAT) has ruled…
Last Updated:July 20, 2025, 16:27 is The ITAT Mumbai ruled Kavita Manoj Damani can claim capital gain tax exemption under Section 54 of the Income Tax Act, 1961, after purchasing a new flat from her husband. Section 54 of the Income Tax Act offers exemption from long-term capital gains tax if the profit from selling…
New Delhi: The Supreme Court has disposed of 573 direct tax cases where the tax effect is less than Rs 5 crore, following the revised monetary limit for filing appeals, the Ministry of Finance said in a statement on Tuesday. This move aligns with the government’s efforts to reduce tax litigation and promote the Ease…