by admin | Jan 30, 2026 | Income Tax
The Bengaluru Income Tax Appellate Tribunal (ITAT) rejected (January 2026) denied Flipkart co-founder Binny Bansal’s claim of non-resident status for FY 2019–20, making him liable for taxes in India on gains from his Flipkart share sale. The tribunal ruled he...
by admin | Jan 27, 2026 | Income Tax
Section 68 of the Income-tax Act, 1961 empowers the Assessing Officer (AO) to treat unexplained cash credits as income of the assessee if a satisfactory explanation regarding their nature and source is not offered. In cases involving share capital, share premium, or...
by admin | Jan 22, 2026 | Income Tax
Introduction: In a significant decision favouring taxpayers, the Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that sale of land along with an old residential shed/structure can qualify for capital gains exemption under Section 54 of the...
by admin | Jan 17, 2026 | Income Tax
Tiger Global Liable to Tax – Supreme Court Ruling Introduction: The Tiger Global Tax Dispute: • Tiger Global, a Mauritius-based investment entity, sold shares in Flipkart Singapore in 2018. • The company claimed exemption from Indian capital gains tax under the...
by JagdeepG | Nov 6, 2021 | Income Tax
IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCHES, “SMC” CHANDIGARH BEFORE: SHRI. N.K.SAINI, VICE PRESIDENT / ITA No.221/Chd/2021/ Assessment Year : 2019-20 M/s Supermech Infrastructure Private Limited Vs ADIT, CPC Bangalore and AO- ITO Ward 2(1)...
by Jagdeep Garhwal | Nov 6, 2021 | Income Tax
IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH BEFORE: SHRI. N.K.SAINI, VP & SHRI , SANJAY GARG, JM / ITA NO. 1000/Chd/2019 / Assessment Year : 2016-17 M/s Steel Strips Wheels Ltd. Vs The DCIT /Date of Pronouncement: 29/01/2020 Order PER...
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