ITATRuling

ITAT Reverses ₹1.15 Lakh Penalty: A Salaried Employee’s Victory Against Tax Fraud

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ITAT Reverses ₹1.15 Lakh Penalty: A Salaried Employee’s Victory Against Tax Fraud

A Salaried Employee’s Tax Nightmare: How an ITAT Ruling Reversed a ₹1.15 Lakh Penalty A recent ruling by the Income Tax Appellate Tribunal (ITAT) in Pune has brought to light a critical issue for salaried employees: the risk of unknowingly becoming involved in tax fraud committed by their consultants. The case involves an employee who … Read more

ITAT Ruling: End of an Era for Black Money in Indian Land Deals

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ITAT Ruling: End of an Era for Black Money in Indian Land Deals

For decades, a clever trick has been used in India to turn black money into white: buying rural agricultural land with under-the-table cash and then selling it years later at full market value, tax-free. But a recent ruling by the Income Tax Appellate Tribunal (ITAT) on May 27th might just put an end to this … Read more