organization · 9 records
Income Tax Appellate Tribunal
ITAT grants taxpayer relief if he plants 500 trees
The ITAT granted a taxpayer a final opportunity to substantiate his tax case on the condition that he plants 500 trees.
He moved to US for work, missed ITR; taxman imposes Rs 8.9L penalty
The Income Tax Appellate Tribunal in Jaipur cancelled an Rs 8.29 lakh penalty imposed on an individual who failed to file an income tax return after relocating to the United States.
S.J. Suryah withdraws plea to discharge from income tax evasion cases
Actor-director S.J. Suryah has withdrawn his plea to be discharged from criminal income tax evasion cases following the Madras High Court's refusal to entertain his request.
ITAT rules business expenses paid via spouse's card are deductible
The Mumbai bench of the Income Tax Appellate Tribunal ruled that businesses can deduct expenses paid via a spouse's credit card if the business purpose is proven and the funds were reimbursed.
ITAT reduces 200% penalty for NRI in income under-reporting case
The Income Tax Appellate Tribunal reduced a 200% tax penalty to 50% for an NRI who failed to report interest income due to an accountant's error.
Look beyond calls for tax leeway, FM tells industry
Finance Minister Nirmala Sitharaman urged industry leaders to provide evidence-based tax reform proposals that consider broader economic impacts rather than just sectoral benefits.
ITAT rules stamp duty gap cannot be attributed to single co-owner
The Mumbai Income Tax Appellate Tribunal ruled that tax authorities cannot attribute the entire stamp-duty valuation gap of a jointly owned property to only one of the co-owners.
Disputed tax demand falls after hike in appeal monetary thresholds
Increased monetary thresholds for filing tax dispute appeals resulted in a reduction of approximately 16,690 crore rupees in disputed tax demand as reported to Parliament.
ITAT Mumbai rules in favor of taxpayer regarding Dubai property remittance
The Mumbai bench of the Income Tax Appellate Tribunal ruled in favor of a woman against an addition of Rs 80 lakh to her taxable income regarding property remittance from her husband in Dubai.