A Mumbai man received a tax notice after paying his credit card bill using Rs 13 lakh in cash. He told the Income Tax Appellate Tribunal (ITAT) that the funds came from gifts from his wife, father and mother. ITAT accepted his explanation for a large part and partially deleted the unexplained cash addition.
Value commerce platform Meesho is contesting a Rs 14.29 crore Goods and Services Tax demand over alleged failure to collect tax at source (TCS) on specific seller transactions. The cases span October 2018 to March 2020. Meesho says the demand is unsustainable and without merit, even as the GST Appellate Tribunal raised the tax call.
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An ITAT Ahmedabad ruling favoured a man from Bharuch, Gujarat, who sold two agricultural plots for Rs 8.75 crore and claimed capital gains. Though he paid no income tax and did not file an ITR, the Income Tax Department issued a notice. The tribunal set aside the action based on the notice and process rather than the gains alone.
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