Judgement

The Chennai ITAT directed the AO to restrict the Section 69A addition to the peak credit instead of taxing the entire cash deposits.

ITAT Restricts Section 69A Addition to Peak Credit, Says Entire Cash Deposits Cannot Be Taxed

News

The Income Tax Department has released the ITR-7 Excel Utility for AY 2026-27, enabling eligible trusts, institutions, and other specified entities to begin filing their income tax returns.

Income Tax Department Releases ITR-7 Excel Utility for AY 2026-27 on e-Filing Portal 

Tribunal cancels completed assessments, remands seized cash addition for fresh verification by appellate authority.

ITAT Quashes Section 153C Assessments Without Incriminating Material For Completed Years

ITAT quashed the reassessment after finding that the AO failed to dispose of the assessee's objections through a speaking order before completing the assessment.

ITAT Quashes Reassessment for Failure to Dispose of Objections Before Assessment

Tribunal holds TDS threshold applies per game and Section 40(a)(ia) cannot disallow non-expense payouts.

ITAT: Section 40(a)(ia) Cannot Disallow Player Winnings Not Claimed as Business Expense

ITAT holds contingent income is not taxable before accrual; allows genuine project-related business expenditure.

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ITAT Restricts Section 69A Addition to Peak Credit, Says Entire Cash Deposits Cannot Be Taxed

Income Tax Department Releases ITR-7 Excel Utility for AY 2026-27 on e-Filing Portal

ITAT Quashes Section 153C Assessments Without Incriminating Material For Completed Years

ITAT Quashes Reassessment for Failure to Dispose of Objections Before Assessment

ITAT: Section 40(a)(ia) Cannot Disallow Player Winnings Not Claimed as Business Expense

ITAT: Contingent Income Cannot Be Taxed Until Enforceable Right To Receive Crystallises