Browsing Tag

Section 147

3 posts
ITAT Mumbai quashes ₹20 lakh cash addition against Indiabulls Sky buyer, holding that an untested builder statement without cross-exam cannot sustain the charge.

No Cross-Examination of Builder? ITAT Deletes ₹20 Lakh Cash Allegation Against Flat Buyer

ITAT Mumbai quashes ₹20 lakh cash addition against Indiabulls Sky buyer, holding that an untested builder statement without cross-exam cannot sustain the charge.
ITAT rules that mere mention of buyer’s name in builder’s seized Excel sheet is not enough to prove on-money payment and sustain addition. Addition of ₹25 lakh deleted.

Buyer’s Name in Builder’s Sheet Not Enough to Prove Cash Payment

ITAT rules that mere mention of buyer’s name in builder’s seized Excel sheet is not enough to prove on-money payment and sustain addition. Addition of ₹25 lakh deleted.
A loving addition of a wife's name to a property deed led to a shocking ₹70 lakh capital gains tax notice nearly 10 years later—despite the husband declaring the full sale. ITAT Mumbai remands the matter for verification, offering hope to avoid double taxation in this relatable family tax cautionary tale.

Added Wife’s Name in Property Out of Love? Got ₹70 Lakh Tax Notice

A loving addition of a wife’s name to a property deed led to a shocking ₹70 lakh capital gains tax notice nearly 10 years later—despite the husband declaring the full sale. ITAT Mumbai remands the matter for verification, offering hope to avoid double taxation in this relatable family tax cautionary tale.