![Union Budget 2026-27: Small Taxpayers to Obtain Lower or Nil Deduction Certificates Without Approaching the Assessing Officer [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/2123084-union-budget-2026-27-small-taxpayers-obtain-lower-nil-deduction-certificates-assessing-officer-taxscan.webp "Union Budget 2026-27: Small Taxpayers to Obtain Lower or Nil Deduction Certificates Without Approaching the Assessing Officer [Read Finance Bill 2026]")
Union Budget 2026-27: Small Taxpayers to Obtain Lower or Nil Deduction Certificates Without Approaching the Assessing Officer [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...
![Ignore Special Audit Direction? Know Consequences as per New Finance Bill [Read Finance Bill 2026]](https://images.taxscan.in/h-upload/2026/02/01/2122987-ignore-special-audit-direction-consequences-new-finance-bill-taxscan.webp "Ignore Special Audit Direction? Know Consequences as per New Finance Bill [Read Finance Bill 2026]")
![Balaji & Maruti Transactions Genuine: ITAT Rejects ₹5.49 Cr Accommodation Entry Allegation [Read Order]](https://images.taxscan.in/h-upload/2026/01/31/2122757-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]")
Taxpayer Only Account Opener, Acted as Conduit for Third Party Funds: ITAT Limits Income Tax Liability to 0.5% Commission [Read Order]
The Income Tax Appellant Tribunal (“ITAT”), Surat Bench, recently limited income tax liability for the account opener, a conduit for third party funds. The taxpayer’s income tax liability was...
![Taxpayer Only Account Opener, Acted as Conduit for Third Party Funds: ITAT Limits Income Tax Liability to 0.5% Commission [Read Order]](https://images.taxscan.in/h-upload/2026/01/30/2122575-taxpayer-account-third-party-funds-itat-limits-income-tax-liability-commission-taxscan.webp "Taxpayer Only Account Opener, Acted as Conduit for Third Party Funds: ITAT Limits Income Tax Liability to 0.5% Commission [Read Order]")
Cash Payment for Joint Flat Bought with Wife Explained through Bank Records: ITAT Deletes ₹5.25 Lakh Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal (“ITAT”) deleted income tax addition of ₹5.25 Lakh for purchasing a flat with his wife (jointly) after reviewing bank records. The tribunal observed that the cash...
![Cash Payment for Joint Flat Bought with Wife Explained through Bank Records: ITAT Deletes ₹5.25 Lakh Income Tax Addition [Read Order]](https://images.taxscan.in/h-upload/2026/01/28/2122252-itat-surat-joint-flat-bought-with-wife-joint-property-flat-purchase-itat-deletes-income-tax-addition-cash-payment-for-flat-purchase-joint-flat-with-wife-tax-case-property-purchase-tax-dispute-taxscan.webp "Cash Payment for Joint Flat Bought with Wife Explained through Bank Records: ITAT Deletes ₹5.25 Lakh Income Tax Addition [Read Order]")
No S. 50C Addition When Sale Price Exceeds Stamp Value: ITAT Deletes Addition Caused by Typographical Error in Dept Records [Read Order]
In a recent rulling the Income Tax Appellate Tribunal (ITAT) Surat bench deleted ₹19 Lakh Addition after finding that the Assessing Officer had relied on incorrect departmental records arising from...
![No S. 50C Addition When Sale Price Exceeds Stamp Value: ITAT Deletes Addition Caused by Typographical Error in Dept Records [Read Order]](https://images.taxscan.in/h-upload/2026/01/27/2122061-no-s-50c-addition-when-sale-price-exceeds-stamp-value-itat-deletes-addition-caused-by-typographical-error-in-dept-records-taxscan.webp "No S. 50C Addition When Sale Price Exceeds Stamp Value: ITAT Deletes Addition Caused by Typographical Error in Dept Records [Read Order]")
![Email Change Ignored by Department: Calcutta HC Sets Aside S.148A Reassessment Notice [Read Order]](https://images.taxscan.in/h-upload/2026/01/23/2121565-email-change-ignored-department-calcutta-hc-sets-aside-s148a-reassessment-notice-taxscan.webp "Email Change Ignored by Department: Calcutta HC Sets Aside S.148A Reassessment Notice [Read Order]")
Failure to Afford Opportunity to Furnish Documents Violates Natural Justice: Calcutta HC sets aside Order u/s 148A(3) of IT Act Against Co-operative Bank [Read Order]
The Calcutta High Court has quashed and set aside an order passed under section 148A(3) of the Income Tax Act of 1961, as the Assessing Officer (AO) didn't allow the petitioner bank to furnish the...
![Failure to Afford Opportunity to Furnish Documents Violates Natural Justice: Calcutta HC sets aside Order u/s 148A(3) of IT Act Against Co-operative Bank [Read Order]](https://images.taxscan.in/h-upload/2026/01/22/2121427-calcutta-high-court-income-tax-taxscan.webp "Failure to Afford Opportunity to Furnish Documents Violates Natural Justice: Calcutta HC sets aside Order u/s 148A(3) of IT Act Against Co-operative Bank [Read Order]")
AO's Erroneous Assumption of Land Cost as Part of Construction Cost: ITAT Remands LTCG Matter for fresh consideration [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, remanded the matter back to the Assessing Officer (AO) after observing that the AO had disallowed the claim for the...
![AOs Erroneous Assumption of Land Cost as Part of Construction Cost: ITAT Remands LTCG Matter for fresh consideration [Read Order]](https://images.taxscan.in/h-upload/2026/01/19/2120791-aos-erroneous-assumption-of-land-cost-as-part-of-construction-cost-itat-remands-ltcg-matter-for-fresh-consideration-taxscan.webp "AOs Erroneous Assumption of Land Cost as Part of Construction Cost: ITAT Remands LTCG Matter for fresh consideration [Read Order]")