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Income Tax Return

No Loss in Collection of Taxes, Recorded Sale Transaction in Return of Income: ITAT Notes Sale of Car Already Taxed [Read Order]

The Income Tax Appellate Tribunal (ITAT), Raipur Bench, noted that the sale transaction of the car in the present case has already been taxed and...

Budget 2026: ITR Due Dates Revised for All Taxpayer Categories

Income Tax Act, 2025 comes into effect from 1st April 2026, Rules and Forms will be Notified...

Budget 2026: Joint Taxation for Married Couples under Discussion? Details Explained

No Capital Gain Tax in JDA Execution Year without Consideration & with Limited Possession: ITAT...

CESTAT Weekly Round-up

No Exclusion of Limitation Period u/s 14 for Bills Not Prosecuted in Refund Proceedings: CESTAT Dismisses Appeal as Time-Barred Senior India Pvt.Ltd. vs Commissioner of Customs, Air Cargo Complex...

Mere ITR Disclosure Cannot Trigger Service Tax Levy without Identifying Service & Recipient: CESTAT [Read Order]

The Mumbai bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT), held that mere disclosure of turnover/income in an Income Tax Return ( ITR ) cannot automatically lead to Service...

ITAT Grants Relief on Unexplained Income in ₹94-Lakh Property Sale Despite Invalid Income Tax Return [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has held that the assessing officer cannot ignore the examination of source of funds merely because of the error in income tax return ( ITR ) due to...

Creditworthiness of Creditor cannot be Denied merely due to Non-Filing of ITR: Patna HC deletes Addition u/s 68 [Read Order]

The Patna High Court, in its recent decision has held that creditworthiness of a creditor cannot be disbelieved merely because the creditor did not file an Income Tax Return ( ITR ) for the relevant...

Income Tax Dept Sends ‘Nudge’ Intimations on ITR-AIS Mismatches and High-Value Transactions: What Taxpayers Must Do

The Income Tax Department has stepped up its use of data-driven compliance tools by issuing “nudge” intimations to taxpayers where there is a mismatch between income reported in the income tax...

Tahsildar Failed to Act Despite Receiving VAT-GST Clarification: Orissa HC Directs to Transfer Records on Sand Quarry Tender to Mining Officer [Read Order]

In a recent case, the Orissa High Court directed the immediate transfer of all records to the Mining Officer within two weeks, as the Tahsildar did not act on the Sand Quarry Tender despite getting ...

Reassessment Cannot Survive Once Recorded Reasons Fail: Delhi HC [Read Order]

The bench of the Delhi High Court held that reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, cannot be sustained once the very reasons recorded for reopening are...