The Income Tax Appellate Tribunal Chandigarh held that merely claiming funds belong to a Hindu Undivided Family is insufficient without documentary proof of their source, holding, and transfer, in a case involving Rs 50 lakh life insurance purchased from alleged agricultural income.
The Bombay High Court dismissed a petition challenging BJP MLA Rajendra Gavit’s 2024 election win, ruling that polygamy cannot be a reason for disqualification. The court clearly stated, “Polygamy not a ground for disqualification.” Mumbai: The Bombay High Court rejected a petition that sought to invalidate BJP MLA Rajendra Gavit’s victory in the 2024 elections, […]
A landmark ruling confirms that the Income Tax (I-T) department can seize properties under the anti-benami law even if the actual owner is unknown. The judgment, related to properties worth Rs 3.47 crore in Lucknow, highlights the law’s power to act against assets bought with unaccounted cash, even when the person funding the purchase is untraceable. This decision reinforces the government’s crackdown on benami transactions, especially in the real estate sector, and sets a strong precedent for future cases.
A PIL filed in the Supreme Court Today (Dec 26) sought to scrap the TDS system calling it “arbitrary and irrational” and violative of various fundamental rights, including equality. The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer and its deposit with the income tax department. The deducted amount is adjusted against the payee’s tax liability.
Today (20th March): The Congress party has taken the Income Tax reassessment matter to the Delhi High Court, urging for an urgent hearing. The party’s legal representatives stated that the authorities have reopened assessments for four years. This comes after the Income Tax Appellate Tribunal rejected a plea to stay a notice demanding over Rs 100 crore in outstanding taxes.
