In an income tax case of unexplained income, ITAT Ahmedabad ruled in favor of a father who received Rs 4 lakh as a cash gift for his son’s marriage.
Today, On 23rd September, the Supreme Court criticized the Income Tax Department for pursuing a trivial Rs. 1.5 lakh appeal, dismissing it and urging greater responsibility in litigation. The Court highlighted concerns over frivolous cases burdening the judiciary, with Justice Khanna questioning the costs involved in such unnecessary legal battles.
The Supreme Court granted interim relief to NewsClick in two income tax dispute cases, after the portal had already deposited 30 percent of the assessed amount with the tax department. The court questioned the freezing of NewsClick’s account and stayed any further recovery of the disputed tax amount. This comes after a series of legal battles and rejected pleas.
The Bombay High Court is set to rule on whether the Shirdi temple trust should receive income tax exemptions for anonymous donations. The trust contends that it operates as both a charitable and religious organization, while the Income Tax department argues that its expenditures indicate a predominantly charitable function. The court has reserved its decision.
Today, On 10th July, the Chief Justice criticized late income tax filings, citing support for Xerox and emphasizing trust in the courts for MNCs’ job and revenue creation. The Supreme Court rejected Xerox’s appeal due to a 290-day delay, highlighting the importance of timely tax submissions. The finance ministry faces over 1.5 lakh ongoing tax-related court cases as of July 2023.
The Delhi High Court dismissed the Indian National Congress’s plea against the Income Tax Appellate Tribunal’s decision not to stay the Income Tax department’s lien on their bank accounts. The court recognized the facts and arguments presented, affirming the tribunal’s decision. The Congress party was granted the liberty to approach the tribunal if circumstances change, offering a potential future recourse. The legal battle involves significant financial figures and maneuvering, with the IT department confirming the recovery of Rs 65 crore from the Congress party’s bank accounts against a demand of Rs 135 crore. The court’s decision followed the tribunal’s dismissal of the Congress’s plea to prevent the IT lien, and the subsequent unsuccessful appeal highlighted the party’s urgent need for relief. The tribunal emphasized the party’s lack of diligence in addressing the demand raised by the assessing officer, leading to the dismissal of their concerns about the recovery action.
Today (12th March): The Delhi High Court has deferred its verdict on the Congress party’s petition seeking a stay on the Income Tax Department’s notice demanding over Rs 105 crore in taxes. The court indicated no apparent flaws in the Income Tax Appellate Tribunal’s ruling. The Congress argued urgency due to the upcoming elections. The party’s frozen accounts were central to the dispute.
The Income Tax Appellate Tribunal (ITAT) today (on February 8) has dismissed a plea by the Indian National Congress (INC) seeking a stay on the Income Tax Department’s actions regarding their bank accounts. This decision comes amidst a contentious legal battle between the Congress party and the IT Department over tax claims for the assessment […]
The Income Tax Appellate Tribunal (ITAT) has temporarily allowed the Indian National Congress to access its frozen bank accounts while subject to a lien imposed by the Income Tax Department. The decision follows the party’s disclosure of the account freeze, citing it as an attack on democracy. This milestone highlights the delicate balance between financial scrutiny and political freedom.