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ITR filing in Jeopardy until ITR Filing Due Dates Update in Utility: Rs. 5000 Late Fees, CAs, Tax Practitioners frown over Income Tax Portal Issue

Manu Sharma

Chartered accountants and tax preparers across the country were jolted on 1 August 2025 when the Income-Tax Return (ITR) utility, both online and...

ITAT Remands Capital - Dispute - Faults Revenue - Legal Oversight - Upholds Principles - Justice - taxscan

ITAT Remands Capital Gains Dispute to AO: Faults Revenue on Legal Oversight, Upholds Principles of...

Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh...

Missed your ITR for AY 21-22 or 22-23? Income Tax Dept. Launches Excel Utilities to file Updated...

Bonus Paid Before Due Date Despite Audit Report Error: ITAT Deletes ₹14.03 Lakh Disallowance Citing...

CBDT Introduces New ITR Code for Social Media Influencers sparking Debate Among Tax Experts

The Central Board of Direct Taxes (CBDT) has added a new category for Social Media Influencers in the latest version of the Income Tax Return (ITR) utility. The new code is 16021, and it has been...

Found Error in Your AIS? Income Tax Dept Notifies to Submit Feedback Directly on Portal

The Income Tax Department has informed that the taxpayers should use the e-filing system to provide direct feedback if you discover any mistakes or inconsistencies in your Annual Information...

Income Tax Update: Rectification Requests Now Handled by Jurisdictional Assessing Officers

The Income Tax Department has started sending out emails to taxpayers informing them that their rectification requests have been transferred from the Centralized Processing Center (CPC) to the...

Project Completion Method Upheld: ITAT Deletes ₹3.56 Crore Addition for Real Estate Developer [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 3,56,16,215 made by the Assessing Officer (AO) held that the assessee correctly followed the Project ...

Unexplained Cash Credits Taxable Despite Rejected Books: ITAT Upholds ₹6.58 Crore Addition [Read Order]

The Tribunal upheld the addition of Rs. 6.58 crore as unexplained cash credits under Section 68 and ruled that such additions are permissible even when the assessee’s books of accounts are rejected....

Issuance of Reassessment Notice Under Income Tax Act Beyond Limitation Under TOLA: Gujarat HC Quashes It as Time-Barred [Read Order]

The High Court of Gujarat quashed reassessment notices issued under Section 148 of the Income Tax Act,1961 on the ground that they were time-barred under the Taxation and Other Laws (Relaxation and ...

Failure to Follow SOP in Faceless Proceedings for Non-Responsive PAN Holder: Gujarat HC Quashes Income Tax Assessment [Read Order]

The High Court of Gujarat, quashed an income tax assessment order after finding that the Income Tax Department failed to follow the mandatory Standard Operating Procedure (SOP) in faceless...