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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

The Tribunal also took note of earlier decisions of coordinate benches involving the same stock, Sunrise Asian Ltd, where similar additions had been deleted.

8,000 shares and Rs 85 lakh LTCG: How did one investor prove her share gains were genuine?

The Tribunal in this decision specifically observed that several earlier decisions involving the same scrip had already deleted similar additions.

August 31, 2026 20:43 IST

Realizing foreign asset rules can be tricky, Mudit reached out to ClearTax for help. ClearTax assigned tax expert CA Samadhan to take over the case.

No ESOP shares sold, tax already deducted: Why could you still face an I-T notice?

To meet the income tax portal’s system formatting requirements, the expert created an offline JSON file for ITR-2, checked all…

August 28, 2026 17:34 IST

The Tribunal therefore restored the matter to the Assessing Officer, subject to the taxpayer fulfilling the plantation condition within one month from the date of its order.

Man shows Rs 1.79 lakh income in ITR, faces Rs 11.22 crore tax additions; ITAT says this

In Ranbir Singh, the ITAT expressly stated that if the taxpayer failed to plant 500 trees or pay the requisite…

August 27, 2026 19:27 IST

Undisclosed foreign assets: ITAT rejects ₹23.9-crore tax demand after identity theft evidence.

Rs 24 crore in Singapore bank accounts, but taxpayer says ‘not mine’; ITAT says this

The Delhi ITAT has rejected a Rs 23.91-crore tax demand under the Black Money Act after finding that the taxpayer…

August 26, 2026 19:30 IST

The taxpayer had declared a total income of Rs. 4,99,250, comprising income from business or profession, income from other sources, short-term capital gains of Rs. 3,61,100 and long-term capital gains of Rs. 44,082.

IT Department denied 87A rebate on short-term gains; ITAT rules in taxpayer’s favour

The ruling is particularly relevant to taxpayers whose rebate was denied by the Centralised Processing Centre while processing their return…

August 25, 2026 18:28 IST

Taxpayer died, brother won identical land case: Why ITAT still rejected 2,544-day delayed appeal

Same property, same tax dispute: Why one brother won while the other’s appeal was dismissed by ITAT

A taxpayer may have a strong case on merits, but missing the appeal deadline can still prove costly. In a…

August 21, 2026 15:58 IST

Rs 2.33 crore cash withdrawn from bank and deposited months later? Income Tax Dept questioned why it was kept idle

Rs 2.33 crore cash withdrawn from bank and deposited months later? Income Tax questions why it is kept idle

Withdrawing a large amount of cash and depositing it again months later can invite questions from the Income Tax Department.…

August 19, 2026 18:31 IST

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