https://www.financialexpress.com/money/man-skips-reporting-rs-13-6-lakh-salary-in-itr-faces-rs-29-lakh-penalty-itat-says-this-4377789 A taxpayer who failed to report salary from a previous employer, bank interest and rental income in his income tax return faced a penalty
Category: Income Tax Cases
Rs 21.6 lakh speculative trading loss in stock market triggers Income Tax notice for no tax audit; Trader wins case at ITAT Cuttack
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-21-6-lakh-speculative-trading-loss-in-stock-market-triggers-income-tax-notice-for-no-tax-audit-trader-wins-case-at-itat-cuttack/articleshow/135568724.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Kumar from Jaunliapatty decided to invest in the stock market, he incurred a loss of Rs 21.6 lakh from speculative
Son gets income tax notice for Rs 33.23 lakh in property investment and cash; he gets relief in ITAT Jaipur for this reason
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/son-gets-income-tax-notice-for-rs-33-23-lakh-in-property-investment-and-cash-he-gets-relief-in-itat-jaipur-for-this-reason/articleshow/135480394.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/legal/will/son-gets-income-tax-notice-for-rs-33-23-lakh-in-property-investment-and-cash-he-gets-relief-in-itat-jaipur-for-this-reason/articleshow/135480394.cms Mr Ram from Mandi Road got entangled in a dispute with the Income Tax Department after he bought a property, deposited
₹16 lakh jewellery, ₹3.88 lakh cash treated as unexplained income; here’s why the taxpayer wins at ITAT Hyderabad
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/16-lakh-jewellery-3-88-lakh-cash-treated-as-unexplained-income-heres-why-the-taxpayer-wins-at-itat-hyderabad/articleshow/135482024.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/legal/will/16-lakh-jewellery-3-88-lakh-cash-treated-as-unexplained-income-heres-why-the-taxpayer-wins-at-itat-hyderabad/articleshow/135482024.cms A search by the Income Tax Department at a taxpayer’s residence in November 2010 led to a tax dispute over cash
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Read more at:https://economictimes.indiatimes.com/wealth/tax/insurance-agent-deposits-rs-35-lakh-cash-collected-from-policyholders-in-his-bank-account-gets-tax-notice-he-fights-and-wins-in-itat-jaipur/articleshow/135522909.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mr Sharma, an insurance agent from Neem Ka Thana, Rajasthan, landed in trouble with the Income Tax Department after depositing Rs 35
₹20.45 lakh cash deposits, ₹12.64 lakh capital gains from property sale questioned by Income Tax Department; here’s why woman wins relief at ITAT Hyderabad–ET
Read more at:https://economictimes.indiatimes.com/wealth/tax/20-45-lakh-cash-deposits-12-64-lakh-capital-gains-from-property-sale-questioned-by-income-tax-department-heres-why-woman-wins-relief-at-itat-hyderabad/articleshow/135290918.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/20-45-lakh-cash-deposits-12-64-lakh-capital-gains-from-property-sale-questioned-by-income-tax-department-heres-why-woman-wins-relief-at-itat-hyderabad/articleshow/135290918.cms A woman from Telangana faced an income-tax dispute over Rs 20.45 lakh in cash deposits and Rs 12.64 lakh from a
Section 147 Reassessment Based on Search Material Quashed: ITAT Bangalore–Courtesy TaxGuru
Read more at: https://taxguru.in/income-tax/section-147-reassessment-based-search-material-quashed-itat-bangalore.html Copyright © Taxguru.in Sulthan Gold Pvt. Ltd. Vs DCIT (ITAT Bangalore) Search-Based Reassessment Under Section 147 Invalid Where Section 153A Applies:
*Income Tax Dept has No Statutory Power to Cancel Sale Deeds : Madras HC Quashes Attachment Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/income-tax-dept-has-no-statutory-power-to-cancel-sale-deeds-madras-hc-quashes-attachment-order-1428712 The High Court took strong exception to this overreach. During the hearing, the Bench said there is no provision empowering the tax authorities
*******Reassessment Notices Invalid if Issued Beyond Surviving Period, Even If 14-Day Reply Procedure Followed: Gujarat HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/reassessment-notices-invalid-if-issued-beyond-surviving-period-even-if-14-day-reply-procedure-followed-gujarat-hc-1427582 The Gujarat High Court quashed a reassessment notice as invalid for being issued beyond the limitation period despite following the 14-day reply process
*******Failure to Send Income Tax Notices to Updated Email Address Denies Fair Hearing: Karnataka HC Quashes Assessment Order [Read Order]
Clipped from: https://www.taxscan.in/top-stories/failure-to-send-income-tax-notices-to-updated-email-address-denies-fair-hearing-karnataka-hc-quashes-assessment-order-1427492 The Court found that the department should have used the updated contact for all further communication The High Court of Karnataka, quashed an income tax
*******Chennai ITAT Applies ‘Surviving Period’ Rule for First Time, quashes Income Tax Reassessment Notice [Read Order]
lipped from: https://www.taxscan.in/top-stories/chennai-itat-applies-surviving-period-rule-for-first-time-quashes-income-tax-reassessment-notice-1427467 The Chennai ITAT held that a reassessment notice under the new regime is invalid if issued beyond the “surviving period” under Section 149,
*******ITAT Chennai Quashes Time-Barred Reassessment Citing SC’s Rajeev Bansal Ruling
Clipped from: https://taxguru.in/income-tax/itat-chennai-quashes-time-barred-reassessment-citing-scs-rajeev-bansal-ruling.html Smt. Lakshmi Narasimhan Santhi Vs ACIT (ITAT Chennai) In a significant ruling dated 3rd July 2025, the Chennai Bench of the Income Tax
👌👌👌👌👌👌👌CIT(A) Accepts Additional Evidence on LTCG in violation of Rule 46A: ITAT Remands to AO
Clipped from: https://taxguru.in/income-tax/cita-accepts-additional-evidence-ltcg-violation-rule-46a-itat-remands-ao.html ACIT Vs Sangeeta Ganpat Sawant (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) in Mumbai has recently delivered a significant ruling in the
Why Income Tax Notices for Additional Tax on Capital Gains?
Clipped from: https://taxguru.in/income-tax/income-tax-notices-additional-tax-capital-gains.html Those taxpayers who filed their income tax returns of March 2024 and had income from capital gains are now receiving notices asking them
No reassessment on basis of invalid notice u/s 148, deleted additions of 6.93 Crores
Clipped from: https://taxguru.in/income-tax/reassessment-basis-invalid-notice-u-s-148-deleted-additions-6-93-crores.html Regalia Laminates MCD Buliding Vs ITO (ITAT Delhi) Conclusion: Reassessment initiated under an invalid notice issued under Section 148 as there was no new
Issuance of single consolidate notice u/s. 73 for multiple assessment year contravenes CGST Act: Karnataka HC
lipped from: https://taxguru.in/goods-and-service-tax/issuance-single-consolidate-notice-u-s-73-multiple-assessment-year-contravenes-cgst-act-karnataka-hc.html Bangalore Golf Club Vs Assistant Commissioner of Commercial Taxes (Karnataka High Court) Karnataka High Court held that the practice of issuing a single,
Order passed against dead person liable to be set aside: Madras HC
Clipped from: https://taxguru.in/income-tax/order-passed-dead-person-liable-set-aside-madras-hc.html S. R. Steels Vs Deputy State Tax Officer (Madras High Court) Madras High Court held that order passed against the dead person, who
👌👌👌Deduction u/s. 80P inadmissible as return filed after due date prescribed u/s. 139(1): ITAT Ahmedabad
https://taxguru.in/income-tax/deduction-u-s-80p-inadmissible-return-filed-due-date-prescribed-u-s-139-1-itat-ahmedabad.html Clipped from: https://taxguru.in/income-tax/deduction-u-s-80p-inadmissible-return-filed-due-date-prescribed-u-s-139-1-itat-ahmedabad.html Dared Seva Sahkari Mandali Ltd Vs Assessment Unit (ITAT Ahmedabad) ITAT Ahmedabad held that claim of deduction u/s 80P is admissible only
👌👌👌The Rajasthan High Court has recently held that an assessee’s admission cannot be treated as conclusive evidence for income tax additions in the absence of corroborating material.
lipped from: https://www.taxscan.in/assessees-admission-not-a-valid-ground-for-income-tax-addition-rajasthan-hc/437752/ The Rajasthan High Court has recently held that an assessee’s admission cannot be treated as conclusive evidence for income tax additions in the
