News

The Income Tax Department has launched an offline utility for Forms 145 and 146 under the new Income Tax Act, 2025.

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

Judgement

ITAT dismisses Revenue’s appeal, holding that once identity, creditworthiness, and genuineness are established through documentary evidence and banking trail.

ITAT: Section 68 Addition Deleted as Assessee Proved Loan Genuineness; Mere Third-Party Search Findings Not Sufficient

ITAT quashes the Section 271D penalty, as it was imposed by the AO instead of the Joint Commissioner, who alone had authority before April 1, 2025.

When Law Specifies Authority, Others Cannot Act: ITAT Cancels 271D Penalty

President Draupadi Murmu addressed the officers at the convocation ceremony of the 78th IRS (Income Tax) batch and stressed on the responsibility of transparent tax system, fair administration and respect for citizens

President Sends Powerful Message to Future Tax Officers at IRS Convocation

The Gujarat High Court quashes trial court orders directing the production of ITRs, holding the absence of reasoning and lack of relevance to the cheque-dishonour dispute.

HC: Income Tax Returns Not Automatically Relevant in NI Act Proceedings; Direction to Produce Set Aside

Tribunal restores the matter to CIT(A), holding that inconsistent departmental records created genuine confusion; the delay was not due to negligence.

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Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

ITAT: Section 68 Addition Deleted as Assessee Proved Loan Genuineness; Mere Third-Party Search Findings Not Sufficient

When Law Specifies Authority, Others Cannot Act: ITAT Cancels 271D Penalty

President Sends Powerful Message to Future Tax Officers at IRS Convocation

HC: Income Tax Returns Not Automatically Relevant in NI Act Proceedings; Direction to Produce Set Aside

ITAT: 2855-Day Delay Condoned Where Assessee Acted on Bona Fide Belief Due to Conflicting CPC Communications