Employee files ITR using Form 16, gets Rs 51.2 lakh tax penalty; ITAT ruling offers key lessons for taxpayers An IT employee who claimed an income tax exemption based on his employer-issued Form 16 was slapped with a Rs… 2 months ago
Woman faces tax demand over unsecured loans as transactions flagged as suspicious—what helped her fight back A search-led tax case involving Ahmedabad real estate-linked taxpayer Dimple Robin Goenka has thrown light on how unexplained cash credit… 2 months agoMay 15, 2026
Your Form 16 may be correct, but you could still face a tax demand — here’s why Got a tax demand even though your Form 16 matched your ITR? A real case shows how missing a mandatory… 2 months ago
Rs 1 crore gold seized from taxpayer during search with no purchase bills — can it be taxed? ITAT ruling explains Gold found in an Income Tax search isn’t always taxable. A recent ITAT ruling shows how CBDT’s jewellery limits can… 3 months ago
NRI sells Rs 1 crore property, saves Rs 12.5 lakh TDS legally — how this form cut his tax to zero An NRI avoided a Rs 12.5 lakh TDS deduction on a Rs 1 crore property sale by using a simple… 3 months ago
Man pays Rs 11.83 lakh credit card bill, faces tax addition on entire amount as I-T dept flags it as income — ITAT steps in Credit card payments flagged in Statement of Financial Transactions (SFT) / Annual Information Return (AIR) data can lead to tax… 3 months ago
ITR filing not required: Income Tax Act 2025 allows these taxpayers to use Form 125 — check eligibility Senior citizens aged 75+ with only pension and interest income can now avoid filing ITR using Form No. 125 under… 3 months ago
Woman keeps Rs 15 lakh cash withdrawn from bank at home, deposits it later — faces tax trouble, ITAT intervenes A taxpayer’s cash deposit raised red flags after the tax department questioned its source and labelled it unexplained income. The… 3 months ago
Big relief for taxpayers: Lack of digital knowledge valid reason for missing deadlines, says ITAT ITAT Jaipur has condoned a 631-day delay in filing an appeal, citing lack of digital literacy, and restored the case… 3 months ago
What happens if your employer deducts TDS but doesn’t deposit it with govt? ITAT ruling brings clarity A Kolkata ITAT ruling brought major relief to salaried taxpayers, holding that TDS credit cannot be denied even if the… 3 months ago
No TDS even if property value is above Rs 50 lakh? ITAT gives relief to these homebuyers In a relief for homebuyers, ITAT Ahmedabad has ruled that no TDS under Section 194-IA is required even if the… 3 months ago
Man sells shares, invests Rs 40 crore capital gains to buy 6 luxury flats; tax exemption on gains denied – ITAT still gives relief Mumbai ITAT has ruled that six flats spread across three floors can be treated as one residential house for tax… 3 months agoApril 17, 2026
Man gifts a house to father; Income Tax Dept questions ‘timing and intent’ – ITAT flags these lapses The ITAT denied a taxpayer’s Rs 2.63 crore exemption under Section 54F after finding that a property gifted to his… 3 months ago
Rs 15.85 lakh annual salary, Rs 0 tax? Here’s how new tax regime makes it possible A salaried individual earning Rs 15.85 lakh annually can reduce tax liability to zero under the new tax regime —… 3 months ago
Actor Vijay paid Rs 1.5 crore penalty on Rs 15 crore cash found at home; I-T rules allow up to 200% — why just 10%? Income tax penalties can go up to 200% depending on under-reporting or misreporting of income, the recent case involving Vijay… 3 months ago
Taxpayer sells 5 villas and reinvests in a property in sister’s name — still gets capital gains tax relief; here’s how An NRI taxpayer who sold five villas for Rs 5.26 crore secured a Rs 2.80 crore capital gains exemption under… 3 months ago
Vegetable vendor’s Rs 2.96 crore withdrawals, Rs 45 lakh deposits under tax dept radar after no ITR; ITAT steps in A vegetable vendor faced a tax addition of Rs 3.53 crore after failing to file an ITR and respond to… 4 months ago
ITR forms out for FY 2025-26: When will e-filing start on income tax portal? ITR forms for AY 2026-27 are out, but taxpayers can’t file returns yet. Filing is expected to start around June… 4 months ago
Taxpayer files ITR-2 instead of ITR-4, reports business income under wrong head; here’s how ITAT deals
Man skipped ITR filing, sentenced to 1-year jail 11 years later – why timely tax return filing matters
Man gets 23 flats from builder, seeks tax exemption on all units after Rs 8 crore LTCG demand; ITAT says this
Trader suffers Rs 2.69 crore business loss, writes it off in books; Income Tax Dept rejects claim, ITAT says this
