The Latest Breaking News from AO

Ikea to pilot online buyback service for secondhand furniture

Service to be tested in Spain and Portugal this year, with a UK rollout if successful, as pre-loved markets boom

The Guardian - UK · 23h ago

Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: Here's why lady won at ITAT Mumbai

Wife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for ancestral family jewellery worth Rs 67 lakh; she claimed it’s ancestral and wins relief in ITAT Mumbai.

The Economic Times · Oct 5

Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT Chennai

Mr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cash in his bank account. After this he got an unexplained deposit tax notice. He wins case in ITAT Chennai; Know how.

The Economic Times · Oct 5

Rs 9.91 lakh income tax refund for senior citizen after proving that he mistakenly paid income tax on tax-free bonds; ITAT Delhi order explained

Mr Ajay Kumar Bakaya a senior citizen from Gurgaon faced a significant tax issue when he accidentally overpaid income tax on his tax-free bonds’ exempt interest income. After discovering this error, he filed a rectification application, which was initially rejected. He filed a case in ITAT Delhi and won it…

The Economic Times · Sep 29

Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reason

When Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs 7.65 lakh income, this raised many red flags within the income tax systems. He wins case in ITAT Delhi.

The Economic Times · Sep 28

Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reason

In Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, his successful appeal to the ITAT Bangalore showcased that these funds were legitimately sourced from agricultural sales. By providing land records, APMC sale bills, and bank statements, he effectively justified…

The Economic Times · Sep 25

Flash sale: AO snaps up camera seller Jessops from Dragons’ Den star Peter Jones

Online electricals retailer says latest purchase continues to broaden its appeal beyond white goods, phones and TV

The Guardian - UK · Sep 24

AO World buys Jessops from Dragons’ Den star Peter Jones

Shares in AO World dropped 8% in morning trading on Thursday as it gave a more cautious outlook on second-half trading.

Evening Standard · Sep 24

US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT Delhi

Rs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how

The Economic Times · Sep 23

5 Bangalore landowners formed a partnership firm to develop property, received income tax notice for undisclosed rental income; won relief in ITAT for this reason

Bangalore landowners get relief from undisclosed rental income tax notice after proving in ITAT that their partnership firm received the rent. What happened was, five Bangalore landowners signed JDA with builder, later formed partnership firm to develop property; but then the landowners got undisclosed rental income tax notice.

The Economic Times · Sep 19