Judgement

The ITAT Mumbai held that additions made by the AO were incorrect as it was assumed that assessee claimed exempt Long-Term Capital Gain but the assessee disclosed a Short-Term Capital Loss through penny stock transactions

ITAT Deletes Penny Stock Addition as Assessee Had Claimed Short-Term Capital Loss

The ITAT Mumbai held that cash deposits that arise from disclosed business turnover can not be treated as unexplained money in absence of any material proving that such deposits represented unaccounted income

ITAT Held That Business Cash Deposits Cannot Be Treated as Unexplained Without Contrary Evidence 

News

ITAT deleted Rs 9.25 lakh of a tax addition after accepting part of a Mumbai taxpayer's family gift claim for cash credit card payments.

Mumbai Taxpayer Gets ITAT Relief in Rs 13.95 Lakh Credit Card Cash Payment Case

The Uttar Pradesh Government has extended the transfer deadline for officers/employees working under the State Tax Department until June 15, for the financial year 2026-27.

UP Govt Extends Transfer Due Date for Officers Working in State Tax Dept Until June 2026 for FY 2026-27

Articles

Most salaried taxpayers are waiting for Form 16 before filing their ITR. Here's why this document is important, what details it contains, and how it helps ensure accurate tax return filing.

ITR Filing FY 2025-26: Why Form 16 Matters Before You File

The ITAT Delhi held that once a transaction is covered under a binding APA under Section 92CC, the Revenue cannot disallow the same expenditure under Section 37(1), deleting the Rs 15.77 crore addition.

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ITAT Deletes Penny Stock Addition as Assessee Had Claimed Short-Term Capital Loss

ITAT Held That Business Cash Deposits Cannot Be Treated as Unexplained Without Contrary Evidence

Mumbai Taxpayer Gets ITAT Relief in Rs 13.95 Lakh Credit Card Cash Payment Case

UP Govt Extends Transfer Due Date for Officers Working in State Tax Dept Until June 2026 for FY 2026-27

ITR Filing FY 2025-26: Why Form 16 Matters Before You File

ITAT Deletes Rs 15.77 Crore Disallowance, Holds Business Expediency Cannot Be Reopened Under Section 37(1)