Articles

A comprehensive guide to the taxability of LIPs and ULIPs, covering Section 10(10D) exemptions, Finance Act 2021 & 2023 amendments, capital gains taxation, TDS provisions, and ITR reporting requirements for AY 2026-27.

Got Money from a Life Insurance Policy or ULIP? Here's How It Is Taxed and Reported in Your ITR

Judgement

The ITAT Delhi has restored to the CIT(A) a dispute relating to an accommodation entry of Rs 20 lakh received by MAS Advisory Services Pvt. Ltd. from Pine View Portfolio Consultants Pvt. Ltd.

ITAT Sets Aside Relief Granted to Assessee in Rs 20 Lakh Accommodation Entry Case due to Non Confrontation of Additional Evidence 

News

The Tax Dept has clarified that taxpayers will not file two ITRs for the same income period, with AY 2026-27 covering FY 2025-26 income and Tax Year 2026-27 covering income earned from April 1, 2026 onward.

No Need to File Two ITRs for AY 2026-27 and Tax Year 2026-27, Clarifies Income Tax Dept Using Kar Setu

The ITAT Delhi quashed reassessment proceedings and deleted a Rs 48 lakh addition after the Income Tax Department failed to furnish the mandatory approval under Section 151.

ITAT Quashes Reassessment as Tax Department Fails to Produce Section 151 Approval

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.

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Got Money from a Life Insurance Policy or ULIP? Here's How It Is Taxed and Reported in Your ITR

ITAT Sets Aside Relief Granted to Assessee in Rs 20 Lakh Accommodation Entry Case due to Non Confrontation of Additional Evidence

No Need to File Two ITRs for AY 2026-27 and Tax Year 2026-27, Clarifies Income Tax Dept Using Kar Setu

ITAT Quashes Reassessment as Tax Department Fails to Produce Section 151 Approval

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