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Friday, January 16, 2026

Tag: income tax department

Supreme Court Rules Against Tiger Global in Flipkart-Walmart Tax Case

SC rejects Tiger Global's tax exemption claim on $1.2 billion Flipkart sale, ruling it a shell company. Landmark decision impacts foreign investor taxation.

25,000 Taxpayers Face Penalties for Undisclosed Foreign Assets

Income Tax Department targets high-risk cases with foreign properties. File revised returns by Dec 31, 2025 to avoid heavy penalties under Black Money Act.

ITAT Mumbai Clears Engineer in Rs 69 Lakh Tax Case

Mumbai ITAT rules in favor of engineer accused of under-reporting income despite Rs 69 lakh investments. Six-year legal battle ends with taxpayer relief.

HUL Gets Rs 1,986 Crore Tax Notice, Plans to Appeal Demand

Hindustan Unilever faces Rs 1,986 crore income tax notice over transfer pricing disputes. Company confirms no financial impact and will file appeal.