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    Tag: Tax Tribunal

    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh
    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh
    Other CourtsLatest news

    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh

    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.

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    Big Relief for Lalit Modi as ITAT Quashes Rs.20 Crore Tax Reassessment
    Big Relief for Lalit Modi as ITAT Quashes Rs.20 Crore Tax Reassessment
    Other CourtsLatest news

    Big Relief for Lalit Modi as ITAT Quashes Rs.20 Crore Tax Reassessment

    The Income Tax Appellate Tribunal annulled a reassessment order against Lalit Kumar Modi for AY 2010–11 that had raised his taxable income from Rs 54.81 lakh to Rs 20.12 crore, citing unexplained credit card spending, private jet lease and fuel costs, and Golden Wings liabilities.

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    Flex vs Xiaomi Tax Showdown Reaches Supreme Court: Contract Maker Seeks Tribunal Order Reversal
    Flex vs Xiaomi Tax Showdown Reaches Supreme Court: Contract Maker Seeks Tribunal Order Reversal
    Supreme Court

    Flex vs Xiaomi Tax Showdown Reaches Supreme Court: Contract Maker Seeks Tribunal Order Reversal

    Contract manufacturer Flex has moved the Supreme Court seeking to quash a Tax Tribunal ruling in Xiaomi’s royalty tax dispute. Xiaomi faces a 72 million dollar alleged unpaid tax demand, challenging it in a case crucial to India’s contract manufacturing framework.

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