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INSANE: Itat - The Real Truth

Rs 6.42 lakh travel expense disallowed as business expenditure over use of wife’s credit card; businessman contests tax order, wins relief in ITAT Mumbai

Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit card to pay for it; ITAT Mumbai gives relief to taxpayer. Challa Nagendra Prasad, Judicial Member and G.M. Doss, Accountant Member of ITAT Mumbai heard this case.

The Economic Times

Rs 1.17 crore interest income of minor child: Father faces Rs 12.83 lakh penalty; ITAT Delhi cancels it

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent judgement ruled that a father can’t be slapped with Rs 12.83 lakh penalty under Section 270A if his ITR-reported income matches the assessed income and the only point of contention is the tax benefit…

The Economic Times

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

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Rs 2.42 lakh FD investment and Rs 1.06 lakh cash deposits, no ITR filed, got income tax notice; senior citizen wins case in ITAT Jaipur after 9-year fight

No ITR filed, yet Rs 2.42 lakh FD investment, Rs 1.06 lakh cash deposits triggers tax notice for senior citizen; she wins case in ITAT Jaipur after 9 years fight. Know how Mrs Devi won the case in ITAT Jaipur.

The Economic Times

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

Landlord deposited Rs 14.96 lakh cash during demonetisation, got tax notice: ITAT Bangalore grants relief

Landlord took rent in cash, deposited Rs 14.96 lakh cash during demonitisation period; got Income tax notice, he wins case in ITAT Bangalore. The ITAT Bangalore bench which heard this case comprised of Waseem Ahmed, an accountant member and Keshav Dubey, a judicial member.

The Economic Times

Income Tax Dept seized gold, diamonds and silver in a tax search operation from lady’s house and bank locker; she wins case in ITAT Mumbai

How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept seized her gold, diamond, silver items and jewellery kept in house and bank locker

The Economic Times

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Gurgaon RWA sought charitable trust registration with rental and maintenance income; ITAT Chandigarh rejected RWA’s appeal for this reason

RWA earned rent by letting out common areas and collected maintenance from residents and seeked charitable trust registration; ITAT Chandigarh rejects RWA’s appeal. Laliet Kumar, a Judicial Member and Manoj Kumar Aggarwal, an Accountant Member of the Income Tax Appellate Tribunal (ITAT) Chandigarh gave this judgement.

The Economic Times

ITR was processed under the old tax regime due to tax consultant's mistake, taxpayer faced Rs 1.23 lakh demand: ITAT Bangalore allowed new tax regime

Rs 1.23 lakh tax demand notice sent as man filed ITR with new tax regime but it was processed with old tax regime due to tax consultant’s error, ITAT Bangalore allows his appeal. Know how Mr Shah won the case.

The Economic Times

Rs 25 lakh cash deposited in bank, income tax officer sends notice for unexplained cash u/s 69; Taxpayer wins case in ITAT Bangalore, here's why

Employee deposits Rs 25 lakh cash in bank; tax officer sends notice for unexplained cash u/s 69; Employee wins case in ITAT Bangalore; Know how. This judgement was given by Keshav Dubey, a judicial member and Waseem Ahmed, an accountant member of ITAT Bangalore

The Economic Times

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

Gamer invested Rs 2.61 crore to play online rummy and poker games; loses net Rs 28 lakh, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore

Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore. Waseem Ahmed, the Accountant Member, and Soundararajan K., the Judicial Member of ITAT Bangalore heard this…

The Economic Times

Employee showed Rs 9.6 lakh EPF interest in ITR by mistake, got income tax notice: He fought and got full relief in ITAT Mumbai

Income Tax Dept sent tax notice for Rs 9.6 lakh EPF interest which employee never received but erroneously shown in ITR as received; he fights and wins case in ITAT Mumbai. This judgement was delivered by Challa Nagendra Prasad, the Judicial Member, and Makarand Vasant Mahadeokar, the Accountant Member of…

The Economic Times

Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite jointly owned property - ITAT Mumbai calls it 'not justified'

A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of Rs 34.8 lakh. The amont was added to the husband's income alone by the tax office, despite him having a lower ownership…

The Economic Times

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The Economic Times

Rs 41 lakh cash deposit but no ITR: Bengaluru man claimed his wife and father paid his expenses; ITAT Bangalore refuses relief on this ground

Waseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgement refused to condone a delay of about 4 years in an unexplained cash deposit case after the taxpayer explained he only got to know about this tax notice while applying for visa for overseas…

The Economic Times

Wife gets income tax notice after husband sells joint property Rs 14 lakh below market price; she fights back and wins the case in ITAT Kolkata

Wife escaped income tax notice as she proved in ITAT that her husband entirely paid for their joint property which was sold for Rs 14 lakh less price than market value. Read the article to know why the wife won the case in ITAT Kolkata.

The Economic Times

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

Man receives $3.14 lakh from redemption of Bermuda-focused fund; Income Tax Dept considers it black money, imposes Rs 1.8 crore penalty and tax, but he wins case in ITAT Delhi

Indian man working in Singapore gets $3.14 lakh from redemption of units of Bermuda focussed investment fund; Tax dept deems it black money and imposes Rs 1.8 crore penalty and tax; he wins case in ITAT Delhi. Read the article.

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The Economic Times

NRI can’t sell Indian property before October 1, 2026 if buyer does not have TAN; Know how to apply for TAN online

The TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get a threshold limit of Rs 50 lakh before TDS isrequired to be deducted. Also the TDS rate for NRIs depends on three factors. Read the article.

The Economic Times

Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law says

Severance pay received under a voluntary retirement scheme is not always taxable for all employees; Know why and what the tax law says

The Economic Times

Rs 2.25-crore notice under Black Money Act to Delhi couple over Singapore, British Virgin Islands assets: ITAT Delhi gave full relief to taxpayer, know why

Tax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Singapore and British Virgin Islands to their income but ITAT Delhi cancels these additions. Know how this couple won the black money case.

The Economic Times

Employees exercising their ESOPs should know how a recent ITAT ruling will determine whether the benefit is taxed as perquisite or capital gains

A recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased options are capital assets, not perquisites. This decision provides significant relief and clarity for employees and startups. Substance over form prevails, ensuring correct tax treatment regardless of filings. Employees should understand vesting, exercise, and repurchase rules…

The Economic Times

Selling inherited property? Know who is liable to pay income tax on capital gains and how heirs can claim tax relief

Selling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief.

The Economic Times

Rs 5.31 lakh income tax refund denied as taxpayer did not claim it in the original ITR; he approaches ITAT Delhi and wins the case to get tax refund with interest

Rs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Section 148 ITR; ITAT Delhi orders the tax dept to issue the refund with interest.

The Economic Times

Karol Bagh man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reason

Black money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delhi after proving his identity theft angle with Economic Offences Wing’s help.

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