Judgement

The ITAT quashed the tax demand raised by the CPC, holding that changing a return's status from AOP to Cooperative Society requires detailed examination.

CPC not justified in changing assessee status without proper examination: ITAT

ITAT held that explained cash redeposits and reasonable marriage gifts cannot be taxed under Section 69A, but mere unsupported claims are insufficient to justify unexplained cash deposits.

Mere General Statements Cannot Discharge Burden Under Section 69A: ITAT

Articles

The Income Tax Department has introduced new challans from April 1, 2026 under the Income Tax Act 2025, replacing the AY with the TY system and simplifying tax payments and reporting.

Shift from AY to TY: Understanding New Challans Under Income Tax Act 2025

Tribunal Rejects Rule 6DD Claim; Holds Cash Payments Beyond Rs. 20,000 Without Evidence Attract Disallowance

ITAT: Failure To Prove Rule 6DD Exceptions Leads to Disallowance of Rs. 22.45 Lacs Cash Transactions

ITAT confirms Income Tax Addition on cash payments exceeding Rs. 20,000 per day

The ITAT ruled that in cases of alleged bogus sales under Section 68, only the profit element, not the entire sales amount, can be taxed, directing reassessment using a 9% gross profit rate.

ITAT Rejects 100% Addition on Suspicious Sales; Remands Case for Fresh Consideration

ITAT held that delay in filing Form 10B during the COVID period was a procedural lapse and directed the grant of Sections 11 and 12 exemption.

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CPC not justified in changing assessee status without proper examination: ITAT

Mere General Statements Cannot Discharge Burden Under Section 69A: ITAT

Shift from AY to TY: Understanding New Challans Under Income Tax Act 2025

ITAT confirms Income Tax Addition on cash payments exceeding Rs. 20,000 per day

ITAT Rejects 100% Addition on Suspicious Sales; Remands Case for Fresh Consideration

ITAT Directs Grant of Section 11 Exemption Despite Late Filing of Form 10B