INHERITANCE TAX
I built a house on inherited land, how will I be taxed if I sell it now?
My father purchased a plot in 2016 for Rs 50,65,000. I inherited the property as his sole heir and constructed a house. I am currently residing in this house. If I sell it now, how will the capital gains be taxed?
Tax dept used AI to issue income tax notice; Bombay High Court quashes notice, calls process unfair to taxpayer
The Bombay High Court has cancelled a tax notice because the Income Tax Department used Artificial Intelligence to draft the notice citing three non-existing judgements. The court found the department relied on non-existent judicial rulings. This process was deemed unfair to the taxpayer. The court ordered a fresh notice and a chance for the taxpayer to be heard.
Tenant sublets house to a family of seven; Legal heirs of landlord file for eviction but face challenge to their ownership, finally win in Delhi HC
A Delhi landlord successfully evicted sub-tenants who occupied a property originally rented to their father. The sub-tenants challenged the landlord's ownership and claimed a sale agreement, but the Delhi High Court ruled in the landlord's favor, upholding their bona fide need for the premises. The court set aside a lower court's order granting leave to defend to the occupants.
Tribal daughters can’t inherit ancestral property under Hindu Law, must follow tribal customs: Supreme Court
The Supreme Court ruled that tribal daughters in Scheduled Tribes are not governed by the Hindu Succession Act, 1956, and must follow customary tribal laws for inheritance. This decision overturned a Himachal Pradesh High Court order that allowed tribal daughters to inherit under Hindu law, aiming to prevent exploitation. Read more.
Fired employee returns company laptop only after criminal case filed; Delhi High Court rules against her for withholding office property
A recent Delhi High Court ruling clarifies that fired employees must return all company property immediately. Failure to do so, even if property is returned later, constitutes a criminal offense under the Companies Act. The court dismissed a former MD's plea to quash a notice for withholding company assets. This judgment emphasizes strict liability for retaining company property post-termination.
Tax dept’s Rs 22-crore notice based on WhatsApp chat struck down by ITAT Delhi for lack of credible proof
Delhi's Income Tax Appellate Tribunal (ITAT) has quashed a Rs 22 crore tax notice issued to a taxpayer based solely on WhatsApp chats found on a third party's phone. The tribunal ruled that digital evidence without independent corroboration lacks evidentiary value, especially when it's unauthenticated and non-specific, leading to the deletion of the tax demand.
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Homebuyers win MahaREAT case despite unregistered sale agreement; to get Rs 23 lakh with interest from builders for delay in possession
The Maharashtra Real Estate Appellate Tribunal ruled that builders cannot use unregistered sale agreements as an excuse for delays. Homebuyers Mr. and Mrs. Joshi won Rs 23 lakh, including interest, from builders for failing to deliver apartments by the agreed date. The tribunal emphasized builders' responsibility to register agreements and deliver possession on time.
How to claim your inheritance — property, EPF, bank FDs, mutual funds
Navigating the inheritance of assets following a loved one's death can be a daunting task. Families are tasked with understanding the legal intricacies needed to access everything from bank accounts and stocks to insurance policies and cryptocurrency.
Is it better to distribute one’s assets during lifetime or after demise? Which succession tool is best suited to your needs?
Inheritance conflicts frequently occur in India as families navigate the complexities of passing on legacies. Although parents strive to create secure financial futures for their offspring, disputes over property can easily ensue. This piece delves into various asset distribution strategies like wills, gift deeds, trusts, and joint ownership arrangements.
Married daughter not to get share in father's 4 acre ancestral land in this case, rules High Court; know how it impacts family succession
The Chhattisgarh High Court ruled that a married daughter is not entitled to a share in her father's ancestral land if he died before 1956. The court upheld that under the old Hindu Mitakshara law, succession to a male Hindu's property, even self-acquired, devolved entirely upon his son.
Wife ridiculed him in public, called him an alcoholic; court grants husband divorce on grounds of mental cruelty
The Madhya Pradesh High Court granted a husband a divorce, ruling his wife's false accusations of alcoholism constituted mental cruelty. She repeatedly humiliated him in social circles, damaging his reputation as a public servant. The court found no evidence to support her claims, leading to the dissolution of their marriage.
Daughter's application for compassionate appointment after father's death is objected by a lady claiming to be 'widow'; she fights back and wins in HC
A daughter successfully secured her late father's job on compassionate grounds after a woman claiming to be his widow objected. The Odisha High Court ruled in the daughter's favor, emphasizing that the time taken to obtain necessary legal heir and distress certificates should be excluded when calculating the application's limitation period.
Pension, gratuity withheld on caste misrepresentation charge, retired govt officer fights and wins case in Bombay High Court
A retired Central Excise officer has won a significant legal battle. The Bombay High Court has ordered the release of his pension and gratuity under Rule 9 of CCS (Pension) Rules, 1972. The high court ruled that the department could not hold him accountable for its own errors in classifying him.
Ancestral land sale: Tax department issues notice over Rs 8 crore share, taxpayer wins case in ITAT Delhi; here's what happened
A man received Rs 8 crore from the sale of ancestral land, but the tax department issued a notice for tax evasion. The Income Tax Appellate Tribunal (ITAT) Delhi ruled in his favor, stating the land was HUF property and capital gains should be assessed accordingly, not in his individual capacity.
GSTR-9 table 8A update: New invoice management system will form part of 8A from this year; Important things to watch out for
Taxpayers must prepare for significant changes in GSTR-9 annual returns for FY 2024-25. The new Invoice Management System (IMS) will now be integrated into Table 8A. This update impacts how invoices and ITC are reported. Professionals and taxpayers should review these crucial changes before the December 31, 2025 deadline to ensure accurate filing.
Rs 1.5 crore tax refund withheld by Income Tax Dept due to mismatch between ITR and Form 26AS; taxpayer files case, wins in High Court
The Allahabad High Court ruled that tax officers cannot withhold refunds solely due to mismatches with Form 26AS. Taxpayers can provide Form 16A certificates as proof of TDS deduction, and it is the officer's duty to verify these documents. This decision ensures genuine refunds are not delayed due to deductor errors.
Wife to get central government pension under CCS rules as husband went missing for more than seven years: Chhattisgarh High Court order
A Chhattisgarh High Court order grants a wife her husband's central government pension. The husband, a senior technician at Bhilai Steel Plant, went missing over seven years ago. Despite the employer initiating disciplinary proceedings, the court upheld the wife's entitlement to all service benefits, including pension, based on the presumption of death under the Indian Evidence Act.
Major changes in GST Invoice Management System (IMS) from October 2025 tax period
The Goods and Services Tax Network has updated its Invoice Management System. Taxpayers can now mark credit notes as pending for one tax period. This new feature offers flexibility in modifying Input Tax Credit reversals. These changes aim to streamline business processes and resolve disputes. The updates are effective from the October 2025 tax period onwards.
Can I gift mutual funds without attracting capital gains tax?
Are mutual funds considered capital assets? Can these be gifted without attracting any capital gains tax? My mutual funds are held in a statement of account, not demat account.
Higher pension due on July 1 due to annual increment to be allowed to employee retiring on June 30 in this condition: Punjab & Haryana High Court
The Punjab and Haryana High Court ruled that Haryana state government employees retiring on June 30 are entitled to their annual increment if they completed one year of satisfactory service. This decision clarifies that missing the increment due to retirement date is unjust, aligning with Supreme Court judgments. Read more to know.
Possession delay: MahaREAT asked homebuyer to pay Rs 13 lakh interest to builder despite 2.5 years delay in delivery of Rs 1.65 crore apartment
A Mumbai homebuyer will pay Rs 13 lakh net interest to a builder after deduction of his interest payment from the builder. The builder must pay about Rs 31 lakh interest for delayed possession. MahaRERA ordered both parties to pay interest for their respective delays. The homebuyer appealed this decision. MahaREAT dismissed the appeal, stating the homebuyer sought relief beyond the original complaint. Read more.
Children of second wife also entitled to inherit their late Hindu father’s ancestral property: Odisha High Court
Children from a late Hindu husband's first and second marriages will share his ancestral property. The Odisha High Court clarified that offspring from a voidable marriage have inheritance rights. Their share is limited to what their parent would have received in a notional partition before the father's death. This landmark ruling ensures equitable distribution of inherited wealth.
Cryptocurrency to be recognised as 'property' under Indian law: Madras High Court
In a landmark ruling, the Madras High Court declared cryptocurrency as “property” under Indian law—an asset capable of ownership, possession, and trust. The judgment clarifies crypto’s legal standing, aligning India with global precedents and reinforcing its treatment as a virtual digital asset under the Income Tax Act.
Tax dept seized wife’s Rs 1.65 crore worth of gold and silver jewellery, issued notice for unexplained investment, husband filed case; wins in ITAT Bengaluru
The Income Tax Department seized Rs 1.65 crore worth of gold and silver jewellery from Suresh's residence. The department claimed it was unexplained investment. Suresh appealed, and the ITAT Bengaluru agreed that the jewellery belonged to his wife. The tribunal found the tax officer had already accepted the wife's explanation in her assessment.
Uncle sold their grandfather’s 2 acre land without giving them a share, sister’s children files case, loses in Kerala High Court because of Hindu Law of Succession
A sister's children claimed rights to their grandfather's land sold by their uncle. The Kerala High Court ruled against them. The court found that under traditional Hindu Mitakshara law, a father's self-acquired property devolved solely upon his male heir if he died before 1956. The sister's claim was therefore invalid. The uncle's sale was upheld.
10 common transactions in your savings account can be under I-T Dept radar; experts explain what triggers scrutiny
Many everyday savings account transactions can attract Income Tax Department scrutiny. Large cash deposits, credit card payments exceeding thresholds, and significant property deals are flagged. Mismatched interest income and dormant accounts suddenly becoming active also raise red flags, requiring taxpayers to maintain proper documentation.
The Inheritance of Loss: Inside the silent battles of queer heirs in India’s richest families
Wealthy Indian families are increasingly using inheritance to control their gay children, often coercing them into lavender marriages or disinheriting them. Despite legal advancements, succession laws fail to recognize queer relationships, leaving LGBT heirs vulnerable to exclusion and silenced by family pressures for image preservation.
Samsung Electronics family to sell $1.2 billion stake amid share rally
Experts view the sale by Lee's sisters Lee Boo-jin and Lee Seo-hyun and his mother, Hong Ra-hee, as part of the owner family's efforts to secure funds to pay their inheritance tax estimated at about 12 trillion won, following the 2020 death of Samsung patriarch Lee Kun-hee.
Michael Jackson’s $778 million empire at risk — lawsuits and scandals could wipe it all out
Michael Jackson's vast fortune is under threat. Lawsuits alleging sexual abuse seek huge damages. The IRS claims significant unpaid taxes. Family disputes and alleged mismanagement add to the crisis. If these issues are not resolved, the King of Pop's estate could be depleted, leaving little for his heirs and tarnishing his legacy.
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