Judgement

The ITAT deleted the Rs 3.98 crore Section 68 addition, holding that old customer advances carried forward from earlier years cannot be treated as unexplained cash credits.

ITAT Deletes Rs. 3.98 Crore Addition, Says Old Balances Cannot Be Treated as Unexplained Credits

The ITAT Delhi deleted a Rs 10 lakh penalty under Section 269ST, ruling that cash receipts above Rs 2 lakh attract penalty only when specific statutory conditions are proven.

ITAT Deletes Section 269ST Penalty, Says Cash Receipt Above Rs 2 Lakh Must Be Linked to Single Day or Transaction

Articles

A comprehensive guide to the capital gains tax implications of asset transfers between partners and partnership firms under Sections 45(3), 9B, and 45(4), along with ITR reporting requirements for AY 2026-27.

Capital Gains on Transfer of Assets between Partners and Firms

June 30 is a crucial deadline for taxpayers, as it marks the last date for the Income Tax Department to issue scrutiny notices under Section 143(2) for verifying filed ITRs and reported financial details.

ITR Filed Already? Know Why June 30 Can Be a Crucial Date for You

Three key factors suggest the Income Tax Department is unlikely to grant any further extension for ITR filing in AY 2026-27.

No Last-Minute Relief? Why Taxpayers Shouldn't Expect an ITR Deadline Extension For AY 2026-27

A complete guide to the Section 87A rebate for AY 2026-27, covering eligibility, tax-free income limits, marginal relief, special income rules, and practical tax-saving examples.

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ITAT Deletes Rs. 3.98 Crore Addition, Says Old Balances Cannot Be Treated as Unexplained Credits

ITAT Deletes Section 269ST Penalty, Says Cash Receipt Above Rs 2 Lakh Must Be Linked to Single Day or Transaction

Capital Gains on Transfer of Assets between Partners and Firms

ITR Filed Already? Know Why June 30 Can Be a Crucial Date for You

No Last-Minute Relief? Why Taxpayers Shouldn't Expect an ITR Deadline Extension For AY 2026-27

Section 87A Rebate Explained: How to Pay Zero Tax up to Rs 12 Lakh Income in AY 2026-27