Articles

Income Tax Department has started ITR filing for AY 2026-27 with several important changes that could impact salaried and small taxpayers.

5 Big ITR Changes Taxpayers Must Know Before Filing AY 2026-27

Judgement

ITAT Delhi quashes reassessment where alleged escaped income lacked connection with undisclosed assets discovered.

ITAT Delhi Cancels Multiple Reassessments Based on Alleged Unaccounted Sales Alone

ITAT held in Boyance Infrastructure that an amalgamation under Section 47(vi) is tax-neutral and indexation for capital gains begins from the year the property was first put to use and earned rent, not from the Occupancy Certificate date.

Section 47(vi) Amalgamation is Tax-Neutral, Indexation Runs from Year of Use, Not Occupancy Certificate: ITAT

ITAT held that a related-party transaction cannot be treated as a colourable device merely due to the relationship between parties when supported by proper valuation reports and documentary evidence.

Relationship Alone Does Not Make a Transaction Suspect: ITAT

The ITAT Delhi held that additions under Section 69 cannot be sustained where YEIDA land payments are duly recorded in the books and supported by explained banking transactions.

ITAT Holds Section 69 Cannot Apply When Source of Funds Is Properly Explained and Recorded in Books

The ITAT partly favours the taxpayer by deleting the Rs 28.92 lakh Section 68 addition on sundry creditors while sustaining additions relating to low household withdrawals and TDS default on freight expenses.

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5 Big ITR Changes Taxpayers Must Know Before Filing AY 2026-27

ITAT Delhi Cancels Multiple Reassessments Based on Alleged Unaccounted Sales Alone

Section 47(vi) Amalgamation is Tax-Neutral, Indexation Runs from Year of Use, Not Occupancy Certificate: ITAT

Relationship Alone Does Not Make a Transaction Suspect: ITAT

ITAT Holds Section 69 Cannot Apply When Source of Funds Is Properly Explained and Recorded in Books

ITAT Ahmedabad Deletes Rs 28.92 Lakh Section 68 Addition, Upholds Household and TDS Disallowances