Income Tax
The Aishwarya Rai Bachchan ₹4 Crore Tax Case – Expert Analysis
In 2025, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, delivered a significant judgment in favor of Ms. Aishwarya Rai Bachchan, setting aside an...
Income Tax
Share sale proceeds not unexplained Karnataka HC upholds ITAT Order deleting Addition of Rs. 7cr. u/s 68.
Facts of the case
The assessee filed its return of income, declaring a STCL on sale of shares held in X Ltd. to three entities.
The...
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Income Tax
CAN THE CASE BE REOPENED AFTER THREE YEARS ON THE BASIS OF INFORMATION OF SALE TRANSACTION OF A LAND AMOUNTING TO RS.90 LAKHS WHICH...
To address this issue, let us first understand an interplay of Sec 148,148A and 149(1)(b) and the relevant extracts are re-produced below:
Section 148 of...
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