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Income Tax Notice

No Legal Mechanism Existed to Compute Capital Gains on Unlisted OFS Shares Before 2024 Amendment: Allahabad HC Quashes Income Tax Notice [Read Order]

Kavi Priya

In a recent judgment, the Allahabad High Court (Lucknow Bench) quashed a search and notice, holding that prior to the amendment of Section 55(2)(ac) ...

ROC cannot File Criminal Complaint While Company’s Penalty Appeal u/s 454(8) is Pending: Kerala HC...

Income Tax Notice issued Demanding Management Fee Paid to Oversea Company: Delhi HC sets aside...

Teacher receives Income Tax Notice after Bank Manager Misused Account: Madras HC directs Dept to...

20 Year Old Student Receives Income Tax Notice for ₹35 Crore Bank Transaction

Bhiwani Auto Driver Receives Rs. 31.67 Crore Income Tax Notice

Another shocking case came to light in Haryana when an auto driver from Bhiwani, Raj Singh, received an income tax notice asking him to pay tax on Rs. 31.67 crore. Raj Singh, who drives an auto to...

Village Potter from Rajasthan Receives Rs. 10.5 Crore Income Tax Notice

A young potter from a small village in Rajasthan has been left shocked and confused after receiving a tax notice for more than Rs. 10 crore. Vishnu Kumar Prajapat, who lives in Jhaliji Ka Barana...

Amidst ongoing Controversy Regarding Empuraan Movie, Producer Antony Perumbavoor gets Income Tax Notice

Film producer Antony Perumbavoor has received a notice from the Income Tax Department, seeking clarification over alleged financial transactions, including an amount of Rs 2.5 crore reportedly paid...

SBI Sanitation Worker in UP Earning Just ₹15k Monthly Receives ₹33.88 Cr Income Tax Notice

A sanitation worker in Aligarh, Uttar Pradesh, was shocked to receive an income tax notice demanding Rs. 33.88 crore, even though he earns just Rs. 15,000 a month. Karan Kumar Valmiki works as a...

UP Juice Seller Hit with Rs. 7.79 Crore Income Tax Notice, Only Earns Rs. 400 a Day [Read Order]

A small juice seller from Aligarh, Uttar Pradesh, is in complete shock after receiving an income tax notice demanding Rs. 7.79 crore. The man, Mohammed Rahees, says he has no idea how this happened,...

Got an Income Tax Notice? CBDT’s New Guideline Offers Easier Resolution Options

Introduction The Central Board of Direct Taxes (CBDT) has introduced new rules for settling income tax offences. These changes are meant to help people and businesses avoid long legal battles and...

Invalid service of Income Tax Notice via ITBA portal: ITAT remands business expense disallowance matter [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal (ITAT) has ruled that service of notice through the Income Tax Business Application (ITBA) portal did not constitute valid service and remanded the...