Latest Income Tax News, Updates & Judgments

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Lack of Familiarity With Income Tax E-Filing Portal: ITAT Condones 66 Days Delay, Restores Trust Registration [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, in a matter relating to trust registration, condoned the delay of 66 days. The delay was...

Why Income Tax Notices Now Harder to Challenge on Technical Grounds: Finance Bill 2026

ITAT Condones 63 Day-Delayed Appeal due to Hospitalization, Remands ₹67L Income Tax Deduction Claim...

Statutory Duty of Commissioner to Consider Documents Filed in Paper Book : ITAT Notes Commissioner...

Reassessment Beyond 4 Years Without New Material Invalid: ITAT Quashes ₹3.40 Cr S. 80IB(10)...

FAO or JAO? Who Can Issue Income Tax Reassessment Notice: Full Explanation

Income Tax Reassessment is not a routine query. A Section 148 notice can reopen a completed assessment if the department believes income escaped assessment. The law has strict steps and approvals,...

ITAT Rejects Jurisdiction, Limitation and Procedural Challenges Raised by Ex-Flipkart COO Against Final Assessment Order for AY 2020-21 [Read Order]

The Income Tax Appellate Tribunal (ITAT) at Bangalore heard an appeal pertaining to AY 2020-21, wherein multiple procedural and jurisdictional challenges were raised by Binny Bansal. The appeal...

ITAT upholds Taxability of Capital Gains on Sale of Flipkart Shares by Ex-Flipkart COO, Denies DTAA Relief Under India-Singapore Tax Treaty [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) dealt with the issue of taxability of capital gains arising from the sale of shares of Flipkart Private Limited held by Binny Bansal in...

Entire Income Tax Assessment Must Conclude within 30 Months where TPO Reference Exists: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has held that in cases where the Transfer Pricing Officer (TPO) reference exists, the entire income tax assessment as per Sections 144 and 153...

What to do When NRI recieved Income Tax Notice in India

An Income Tax notice in India creates stress for many NRIs, but it does not mean guilt. A notice means the Income Tax Department needs data, documents, or an explanation. If you act fast and present...

Residential Status of Ex-Flipkart COO: ITAT Upholds Assessment Treating Him as Resident of India Under Income Tax Act and India-Singapore DTAA [Read Order]

In a recent development, the Bangalore Benchof Income Tax Appellate Tribunal (ITAT) zeroed in on the issue of residential status of Binny Bansal in an appeal arising out of the assessment year...

Taxpayer Claims Income Declared in ITR Wrong & Belonged to Another Year: ITAT Remands Matter for Verification [Read Order]

Income Tax Appellate Tribunal (ITAT), Pune Bench, has remanded a matter back for verification since the taxpayer/assessee claims that income has been declared incorrectly in the wrong year. The...

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