Latest Income Tax News, Updates & Judgments

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Unauthenticated Digital Data Cannot Sustain Addition: ITAT Quashes ₹9.40 Crore u/s 69C [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition towards unexplained expenditure under Section 69C of the...

All Six Income Tax Final Assessment Orders Passed Beyond Limitation u/s 144C: ITAT Quashes...

ITAT Weekly Round-up

SLP Filed Merely to Get ‘Stamp of this Court’: Supreme Court Rejects Income Tax Dept Plea Against...

Budget 2026 Outlook: High Expectations of Income Tax Rationalisation from Nirmala Sitharaman;...

Madras HC Reserves Orders on Actor Vijay’s Plea Against ₹1.5 Crore Income Tax Penalty

The Madras High Court reserved orders on writ petition filed by actor Vijay challenging Rs. 1.5 crore income tax penalty imposed for alleged undisclosed income. The case arose from income tax...

Bona Fide Lease Rental Claim based on AS-19 No Ground for Penalty: ITAT Quashes ₹30 Cr Levy on Axis Bank [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, quashed the penalty imposed on Axis Bank under section 271(1)(c) of the Income Tax Act, 1961, for furnishing inaccurate particulars of...

Delhi HC Dismisses Income Tax Dept’s Review Pleas Against Direction to Process Bechtel’s Returns [Read Order]

In a recent decision, the Delhi High Court dismissed the Income Tax Department’s review petitions against its earlier order directing the Department to process the income tax returns. The court...

Employee Cannot Be Denied TDS Credit Due to Kingfisher Airlines’ Default in Depositing Tax: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that an employee cannot be denied TDS credit only because Kingfisher Airlines failed to deposit the tax deducted from the employee salary. ...

Amendment to S.80HHC of Income Tax Act Cannot be applied Retrospectively: Delhi HC Quashes Notices u/s 147/148 [Read Order]

In a recent ruling, the Delhi High Court, reinforcing taxpayer certainty and limits on retrospective taxation, quashed a reassessment notice issued to a petitioner, holding that the reopening of...

Big Relief for Nestlé India: Supreme Court Dismisses ₹101 Crore Income Tax Appeals [Read Order]

TheSupreme Court has granted major relief to Nestlé India Limited by dismissing a batch of income tax appeals filed by the Income Tax Department involving a total amount of about Rs. 101 crore,...

CBDT Notification Grants S.10(46) Exemption to WB Construction Workers Board: Calcutta HC Declares Demand & Penalty under IT Act Inconsequential [Read Order]

The Calcutta High Court has declared the income tax demand and penalty imposed on the petitioner under the Income Tax Act, 1961, as inconsequential, holding that the Central Board of Direct Taxes...

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