« Top Headlines » Open DEMAT Account in 24 hrs  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing «  Govt mulls tax cut on rental income for aged... PPF gets more favourable tax treatment: Pension regulator... » I-T dept to contest ITAT order in Maya gift case January, 21st 2008 In an attempt to insulate the Centre from the charge of shielding Ms Mayawati, the income-tax department is planning to challenge the Income Tax Appellate Tribunals (ITAT) clean chit to the Uttar Pradesh chief minister. In a recent order, ITAT had legitimised the cash and properties the chief minister had massed through the donation route. Ms Mayawatis political rivals have been charging the government with a brazen attempt to help the UP chief minister as ITAT order would provide her relief in the disproportionate assets case. The charges got credence when UP governor T V Rajeswar refused to sanction the prosecution of the chief minister in the Taj Corridor case. I-T officials involved in the investigations have been maintaining that the ITAT order will make it difficult to corner Ms Mayawati, who has acquired properties and huge amounts of cash in recent years. The chief minister has been maintaining that the properties were donated by BSP workers on various occasions. In an intriguing order, ITAT had endorsed the stand taken by Ms Mayawati when it said that the gifts were given to her out of affection. One may be impelled by his conscience or may be moved by emotions to part with his wealth or property and to give the same to a particular person for whom he has developed love and affection. Such a desire can be developed at any time and on any ground. The factors which weigh for executing such desire are best known to the donor. It is not easy to make probe into such human psychology or human emotions which one may carry at the time of making such sacrifices, the ITAT order had said. I-T officials have been maintaining that the tribunals order will have a significant fallout on the CBI probe into the disproportionate assets case against the BSP supreme. The chief minister and her relatives were found to be in possession of 72 immovable properties, besides Rs 13 crore she claimed to have mopped up through more than 300 small donations. The BJP had described the ITAT order as disturbing as it has the potential to be used by tainted politicians and bureaucrats in future.