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The Income Tax Department treated the deduction claim as under-reporting arising from misreporting.

Taxpayer claims Rs 37.8 lakh deduction but faces 200% penalty: What ITAT says next

A taxpayer claimed a Rs 37.8 lakh deduction under Section 80P but was hit with a 200% penalty after the…

October 5, 2026 19:01 IST

Taxpayer ignored 4 tax notices. ITAT still gave her another chance: What the ruling means

Woman ignores 4 tax notices, faces Rs 1.55 Cr tax additions: What ITAT says next

Delhi ITAT has given a taxpayer another chance to contest nearly Rs 1.55 crore in tax additions after she failed…

October 2, 2026 19:16 IST

CBDT circular vs Income Tax Act: Supreme Court says which one will prevail

Can CBDT circular override Income Tax Act? Supreme Court gives clear answer

The Supreme Court has clarified that CBDT instructions can bind tax officials but cannot bind courts while interpreting the Income…

Updated: October 1, 2026 21:22 IST

Man deposits Rs 2.47 Cr cash in 3 accounts at same bank, faces tax scrutiny; ITAT says this

Man deposits Rs 2.5 Cr cash in 3 accounts at same bank; gets I-T notice, ITAT says this

A Delhi man who deposited Rs 2.47 crore in cash during the demonetisation period faced a total tax addition of…

September 30, 2026 18:00 IST

Took office space on lease, sub-let it for Rs 95 lakh: ITAT says this is business income

Man doesn’t own office but earns Rs 95 lakh by renting it to Reliance; ITAT decides tax

A Bangalore taxpayer received around Rs 95 lakh after sub-letting a commercial office space taken on lease from BMTC. While…

Updated: September 28, 2026 22:41 IST

Rs 15 Cr gold found in family lockers, tax addition after man claims ancestral ownership; ITAT says this

Rs 15 Cr jewellery seized from bank lockers, man says it belonged to grandparents; ITAT says this

Income Tax officials found jewellery worth Rs 14.69 crore during a search, but the ITAT refused to treat Rs 1.56…

September 25, 2026 19:53 IST

While his income tax was fully paid, his return was missing two mandatory disclosures.

Rs 50 lakh in US stocks, tax paid in full, yet I-T notice arrives. What went wrong?

Tax paid when US company RSUs vest does not necessarily complete your tax obligations in India. A Rs 50 lakh…

September 25, 2026 18:07 IST

Woman skips ITR filing, faces Rs 16 lakh income tax addition; what ITAT ruling says

A Mumbai woman who did not file her ITR for AY 2015-16 faced a Rs 16.14 lakh income addition after…

Updated: September 24, 2026 18:09 IST

The brief facts of the case are that the assessee is an individual and filed his return of income for A.Y. 2018-19 on 27.08.2018, declaring total income of Rs.31,34,370/-.

Man shows bank, demat proof for Rs 15 lakh stock gains; ITAT still rejects claim

A Rs 14.85 lakh penny-stock gain was treated as unexplained money despite the taxpayer producing bank and demat records before…

September 23, 2026 13:51 IST

Mumbai man's Rs 70,000 becomes Rs 1.93 Cr; taxman calls penny stock gain 'bogus' - ITAT says this

Mumbai man’s Rs 70,000 becomes Rs 1.93 Cr in penny stock; tax dept calls gain ‘bogus’ – ITAT says this

A Mumbai investor’s Rs 70,000 investment in Toyam Industries shares grew into a Rs 1.93 crore long-term capital gain. The…

Updated: September 23, 2026 09:33 IST

The Tribunal accepted that the buyers had no apparent intention to evade tax and ultimately deleted the penalty of Rs. 5.15 lakh imposed on each of them after they proved a reasonable cause of the TDS mistake.

Buying property? One TDS mistake can cost you lakhs: 3 buyers faced Rs 5.15 lakh penalty

Three property buyers faced Rs 5.15 lakh penalty each after deducting TDS under the wrong section while buying property from…

September 21, 2026 20:28 IST

The tax audit report must be furnished in Form 3CA or Form 3CB, along with Form 3CD, as applicable.

Google Trends: Will the government extend the September 30 Income tax audit date?

Section 44AB of the Income-tax Act specifies the categories of taxpayers who are required to get their accounts audited by…

September 17, 2026 12:54 IST

Mumbai man faces Rs 1.24 Cr tax demand over bitcoin sale proceeds; here's what ITAT said

Man sells Rs 1.24 Cr bitcoin, faces tax demand on entire sale proceeds; ITAT says this

A Mumbai taxpayer faced an addition of ₹1.24 crore from bitcoin sale proceeds. The ITAT quashed the reassessment after finding…

September 16, 2026 19:33 IST

Despite being legally entitled to every rupee of relief, the tax department's automated system had rejected his entire DTAA claim and calculated unexpected tax dues.

Man pays tax on US stocks abroad, faces Income Tax demand in India; here’s what happened

A software engineer who paid tax on his US stocks and dividends abroad faced an unexpected Income Tax demand in…

September 16, 2026 13:52 IST

Taxpayers should note that failure to get the accounts audited or furnish the audit report by the due date can attract a penalty under Section 271B.

Google Trends: Income tax audit deadline September 30: Who needs to file an audit report?

Income tax audit deadline is September 30. Check who needs to file a tax audit report and the applicable penalty…

September 11, 2026 13:15 IST

The taxpayer, along with his wife, had jointly purchased a 510 sq. ft. residential flat in FY 2006-07 and in 2013, their housing society entered into a redevelopment agreement with a developer.

Selling a redeveloped flat within 2 years? You may face higher capital gains tax

In the said ruling, since the ITAT was dealing with a case relating to AY 2018-19 (or FY 2017 -…

September 8, 2026 18:27 IST

A recent Income Tax Appellate Tribunal (ITAT) ruling has accentuated the importance of following the limitation provisions before reopening an old tax assessment.

Man with Rs 41.45 lakh in bank deposits faces Income Tax action; here’s what ITAT said

The Dharamvir Singh ruling demonstrates the importance of this safeguard. Although the section 148A(d) order referred to alleged cash deposits…

September 7, 2026 18:26 IST

Woman faces Rs 50 lakh tax after buying a Rs 20 lakh property: Here’s what ITAT says

The Hyderabad ITAT has quashed a Rs 50 lakh tax assessment against a US-based woman after finding that the Section…

September 4, 2026 17:40 IST

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