Articles

June 30 is the final date for issuing income tax scrutiny notices for FY 2025-26 returns. Taxpayers should review their filings and watch for any notices.

June 30 Deadline: Last Chance for Income Tax Scrutiny Notices on FY 2025-26 Returns

Judgement

The Income Tax Appellate Tribunal (ITAT) Delhi has held that the AO was not justified in treating Rs 14,800 appearing in a seized document as Rs 14.80 lakh merely by multiplying the figure by 100.

ITAT Restricts Addition And Holds AO Cannot Multiply Seized Figure by 100 Without Supporting Evidence

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

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.

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June 30 Deadline: Last Chance for Income Tax Scrutiny Notices on FY 2025-26 Returns

ITAT Restricts Addition And Holds AO Cannot Multiply Seized Figure by 100 Without Supporting Evidence

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