![New Income Tax Law to be implemented from 1st April, 2026: All You Need to Know [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/500x300_2122938-new-income-tax-law-taxscan-budgetscan-.webp "New Income Tax Law to be implemented from 1st April, 2026: All You Need to Know [Read Finance Bill 2026]")
New Income Tax Law to be implemented from 1st April, 2026: All You Need to Know [Read Finance Bill 2026]
The Union Budget forthe Financial Year 2026-27 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha today (Sunday, 1 February 2026)....
![Income Tax Act, 2025 comes into effect from 1st April 2026, Rules and Forms will be Notified Shortly: FM [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/250x150_2122867-income-tax-act-2025-rules-forms-notified-shortly-fm-taxscan.webp "Income Tax Act, 2025 comes into effect from 1st April 2026, Rules and Forms will be Notified Shortly: FM [Read Finance Bill 2026]")
![Interest awarded by MACT will be exempted from Income Tax: FM [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/500x300_2122863-interest-awarded-mact-exempted-income-tax-fm-taxscan.webp "Interest awarded by MACT will be exempted from Income Tax: FM [Read Finance Bill 2026]")
ITR-1 & ITR-2 Filing Deadline Set for 31 July; Non-Audit Business/ Trust Returns Due by 31 August: FM [Read Finance Bill 2026]
The Union Budget for the Financial Year 2026-27 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha today (Sunday, 1 February 2026). This is her 9th consecutive budget. The ...
![ITR-1 & ITR-2 Filing Deadline Set for 31 July; Non-Audit Business/ Trust Returns Due by 31 August: FM [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/500x300_2122866-union-budget-2026-budget-scan-2026-itr-1-deadline-itr-2-deadline-itr-1-itr-2-filing-deadline-income-tax-deadlines-trust-returns-fm-tax-filing-announcement-taxscan.webp "ITR-1 & ITR-2 Filing Deadline Set for 31 July; Non-Audit Business/ Trust Returns Due by 31 August: FM [Read Finance Bill 2026]")
Section 54F Deduction under Income Tax cannot be Denied without Examining Construction Evidence: ITAT [Read Order]
The Surat bench of Income Tax Appellate Tribunal ( ITAT) has held that deduction under Section 54F cannot be denied without examining the construction evidence including ledger accounts of purchase...
![Section 54F Deduction under Income Tax cannot be Denied without Examining Construction Evidence: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/01/500x300_2122836-section-54f-deduction-under-income-tax-cannot-be-denied-without-examining-construction-evidence-itat-taxscan.webp "Section 54F Deduction under Income Tax cannot be Denied without Examining Construction Evidence: ITAT [Read Order]")
Student cannot be Taxed for Temporary Family Deposits made to Show Financial Capacity Abroad: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT), Surat Bench has held that a student cannot be taxed under the Income-tax Act for temporary cash deposits made by family members in his bank account...
![Student cannot be Taxed for Temporary Family Deposits made to Show Financial Capacity Abroad: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/31/500x300_2122773-student-cannot-be-taxed-for-temporary-family-deposits-made-to-show-financial-capacity-abroad-itat-taxscan.webp "Student cannot be Taxed for Temporary Family Deposits made to Show Financial Capacity Abroad: ITAT [Read Order]")
Balaji & Maruti Transactions Genuine: ITAT Rejects ₹5.49 Cr Accommodation Entry Allegation [Read Order]
In a recent rulling the Income Tax Appellate Tribunal (ITAT) Delhi bench dismissed the revenue's appeal, holding that amounts received from Balaji Enterprises and Maruti Enterprises could not be...
![Balaji & Maruti Transactions Genuine: ITAT Rejects ₹5.49 Cr Accommodation Entry Allegation [Read Order]](https://images.taxscan.in/h-upload/2026/01/31/500x300_2122757-alaji-maruti-transactions-genuine-itat-rejects-549-cr-accommodation-entry-allegation.webp "Balaji & Maruti Transactions Genuine: ITAT Rejects ₹5.49 Cr Accommodation Entry Allegation [Read Order]")
Delhi HC Declines Reinstatement to Income Tax Employee Who Opted for Voluntary Retirement Despite Disability Claim [Read Order]
The Delhi High Court has refused to interfere with the orders passed by the Central Administrative Tribunal dismissing a plea on reinstatement into government service. The Court held that the...
![Delhi HC Declines Reinstatement to Income Tax Employee Who Opted for Voluntary Retirement Despite Disability Claim [Read Order]](https://images.taxscan.in/h-upload/2026/01/31/500x300_2122750-delhi-hc-declines-reinstatement-income-tax-employee-opted-voluntary-retirement-despite-disability-claim-taxscan.webp "Delhi HC Declines Reinstatement to Income Tax Employee Who Opted for Voluntary Retirement Despite Disability Claim [Read Order]")
Reassessment Beyond 3 Years Invalid When Actual Cash Deposits Below ₹50 Lakh: ITAT Quashes Time-Barred Reassessment [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Hyderabad held that reopening beyond 3 years was barred by limitation, where the actual cash deposit in the assessee's bank account did...
![Reassessment Beyond 3 Years Invalid When Actual Cash Deposits Below ₹50 Lakh: ITAT Quashes Time-Barred Reassessment [Read Order]](https://images.taxscan.in/h-upload/2026/01/31/500x300_2122722-reassessment-invalid-actual-cash-deposits-below-itat-quashes-time-barred-reassessment-taxscan.webp "Reassessment Beyond 3 Years Invalid When Actual Cash Deposits Below ₹50 Lakh: ITAT Quashes Time-Barred Reassessment [Read Order]")