Homeowner sold redeveloped flat for Rs 1.95 crore, paid no income tax, received a tax notice; wins relief in ITAT Mumbai

After redevelopment of housing society, homeowner sold his flat for Rs 1.95 crore, pays no tax, got tax notice, wins case in ITAT Mumbai for this reason

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Canada-based senior citizen faced income tax liability of ₹83.2 lakh as STCG; here's why he wins at ITAT Bengaluru on technical ground

A recent ITAT ruling highlights the critical importance of following proper legal procedures in income tax reassessment cases. When a taxpayer living abroad was given only five days to respond, rather than the legally required seven, the tribunal quashed the notice and subsequent reassessment. This decision underscores vital procedural safeguards for taxpayers in similar situations.

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Man earns Rs 75 lakh by redeveloping property inherited from mother, pays no income tax, receives notice, wins case in ITAT Delhi

Property owner inherits mother’s land, converts it into freehold, DDA grants mutation, redevelops it, gets Rs 75 lakh from builder, pays no tax, gets tax notice, wins case in ITAT Delhi.

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How much gold and silver jewellery can you have in your home without getting into trouble with the Income Tax authorities?

How much pure silver and gold jewellery can you have in your home without getting into trouble with the Income Tax authorities? To know the answer you need to read CBDT Instruction No. 1916.

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Senior citizen gets income tax notice over Rs 65.27 lakh cash deposit in bank account; his son proves source of funds and wins case in ITAT Jaipur

Senior citizen sent income tax notice for Rs 65.27 lakh unexplained cash deposit, which was later proved to be pension and FD money; ITAT Jaipur order explained.

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VRS offer in hand? Check these tax rules before you accept the package

Contemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implications, including taxation aspects and the treatment of different package components. Be clear on the eligibility for tax breaks and ensure that your financial security after retirement is adequately planned.

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GST reforms: What changes in compliance, input tax credit, refunds and litigation from 2027

The latest changes proposed by the GST Council will help cut costs and ease cash flow for companies.

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When do you need a tax residency certificate to claim lower tax rate under DTAA for Tax Year 2026

For Indians earning income from overseas, securing a tax residency certificate is essential to avail benefits under the Double Taxation Avoidance Agreement (DTAA). To acquire this certificate, taxpayers must complete Form 42 online via the income tax e-filing portal. This form necessitates accurate details and supporting documents to confirm residency status.

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Landowner gets Rs 6 crore by selling TDRs received for giving up land for road widening, pays no tax; ITAT Bangalore rules TDR sale taxable as capital gains

For giving up 2,839 sq. metres of land, BBMP gives landowner TDRs which landowner sells to builder for Rs 6 crore; Income Tax Dept sends notice; ITAT Bangalore rules TDR sale attracts capital gains tax

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Good news: If penalty is imposed for misreporting of income or other cases you can apply for waiver of penalty using revised Form 161; Check the details

On October 8, 2026, the Central Board of Direct Taxes introduced a revised Form 161 for taxpayers. This new form allows eligible individuals to apply for a waiver of penalty related to misreported income. Taxpayers must meet specific statutory conditions when applying for this relief through the amended form. The application process requires timely tax payments and cannot involve pending appeals.

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Good news for employees: ITC on group health and life insurance allowed; Know how it helps employees

Now GST input tax credit to emoyers on group insurance; this can mean more life and health insurance coverage for employees; Know how it helps. The reason for this is now employer's cost of buying insurance for its employees can reduce by claiming ITC.

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Do you have to pay tax in India or abroad? Why your residential status is important factor

Individuals earning income abroad must understand their tax residency status according to the Income Tax Act. The Act outlines conditions based on the duration of stay in India for tax purposes. Tax residency rules will apply to financial years beginning from April 1, 2026. Any individual’s residential status requires separate analysis for financial years crossing different tax regimes.

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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

Mr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cash in his bank account. After this he got an unexplained deposit tax notice. He wins case in ITAT Chennai; Know how.

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