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Trump's 50% Tariffs on Canadian Goods Illegally Rely on a Superseded Statute, a Lawsuit Argues

The import taxes fit a pattern of dubious legal rationales for the president's protectionist policies.

Reason · Oct 20

Retired employee gets income tax notice over Rs 9.29 lakh leave encashment; ITAT Jaipur cancels it and gives him full tax exemption, here's why

Mr. Gupta, a former employee of the State Bank of India, found himself facing an income tax notice concerning Rs 9.29 lakh in leave encashment. Unfamiliar with tax exemption limits at his retirement, he was initially distressed. However, the ITAT Jaipur later favored him, applying a vital Rs 25 lakh…

The Economic Times · Oct 20

Trump Keeps Coming Up With Legally Dubious Tariff Justifications

Trump launched his third round of broad tariffs after his first two attempts ran into legal trouble.

Reason · Oct 15

Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT Ahmedabad

Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no ITR, got an unexplained money tax notice u/s 69; he partially wins case in ITAT Ahmedabad

The Economic Times · Sep 10

Our New Federal Circuit Amicus Brief in the Section 122 Tariff Case

The brief explains why the Section 122 tariffs are illegal and run afoul of the major questions and nondelegation doctrines.

Reason · Sep 9

Rs 34 lakh F&O trading loss: Income Tax dept calls it speculative, ITAT Delhi treats Rs 25 lakh as business loss

Taxpayer lost Rs 34 lakh in F&O trading but reports it as business loss; Income Tax dept treats it as speculative loss; ITAT Delhi treats Rs 9 lakh as speculative and the rest as business loss. The ITAT Delhi bench comprised of Sudhir Kumar, Judicial Member and Manish Agarwal, Accountant…

The Economic Times · Sep 9

Bengali Hindu landlord’s Rs 1.89-crore rental income faced tax dispute over HUF status: Why ITAT Delhi gave relief

Bengali Hindulandlord earns Rs 1.89 crore rental income in Delhi, reports it in his HUF’sITR; Income Tax dept rejects it on the ground that Dayabhaga Hindu can’t have an HUF, landlord wins case in ITAT Delhi

The Economic Times · Sep 4

Rs 16 lakh cash seized in income tax raid, tax officer calls it unexplained cash; Taxpayer claims it to be family money, he fights and wins the case in ITAT Mumbai

During an income tax search operation (raid) Rs 16 lakh cash was seized; Man says its family cash; tax officer does not believe him and calls it unexplained cash; he wins case in ITAT Mumbai. Read the article to know how.

The Economic Times · Aug 31

Man constructs a house before selling his old property and claims income tax exemption under Section 54; Income Tax Department sends notice; he wins case in ITAT Delhi

Constructs house for Rs 47 lakh in Tilak Nagar, sells old property in Paschim Viharfor Rs 53 lakh, pays no tax, tax dept sent notice, man wins case in ITAT Delhi; Know how. This Paschim Vihar property was purchased on July 20, 2005 for Rs 6.48 lakh (including stamp duty).

The Economic Times · Aug 19

Property dealer deposits Rs 54 lakh cash in bank, files no ITR, gets tax notice, does not respond, wins case in ITAT Delhi; Know why

Property buyers gave Rs 54 lakh to property dealer who deposited it in his own bank a/c; dealer gets tax notice, he fights and wins case in ITAT Delhi; Know why

The Economic Times · Aug 13