Real Estate Pune
ITAT Quashes Rs. 14.2 Crore On-Money Tax Demand Against Real Estate Firm
The Income Tax Appellate Tribunal (ITAT), Pune bench, has revoked a Rs. 14.2 crore tax demand against a real estate firm, ruling that the income tax department lacked concrete evidence to prove alleged on-money transactions in the firm's projects.
Real Estate
ITAT Quashes Rs. 14.2 Crore Tax Demand on Real Estate Firm: No Evidence Found
The Income Tax Appellate Tribunal (ITAT) has dismissed a Rs. 14.2 crore tax demand against a Pune-based real estate firm, citing lack of concrete evidence. The ruling underscores the importance of verifiable evidence in tax assessments.
Real Estate Pune
ITAT Significantly Reduces Tax Demand on Real Estate Firm, Rejects 'On-Money' Extrapolation
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has significantly reduced the tax demand on Meenamani Ganga Builder LLP, a real estate firm, by rejecting the Income Tax Department's claims of 'on-money' receipts without concrete evidence. The tribunal also dismissed the department's attempt to extrapolate the alleged unaccounted income to other transactions.
Real Estate Mumbai
Bombay HC Dismisses GST Demand on Real Estate Project: A Major Relief for Developers
In a landmark decision, the Nagpur bench of the Bombay High Court has quashed the Goods and Services Tax (GST) demand issued to a real estate project, providing significant relief to developers and investors in the sector.
Real Estate Mumbai
Pharma Giant Cipla Slapped with ₹774 Crore Income Tax Demand Amid New Obesity Drug Launch
Mumbai-based Cipla faces massive income tax demand of ₹774 crore over rule violations, including short deductions and disallowance of expenses, amid the launch of its new obesity drug.