Judgement

The ITAT held that once the AO had made an addition based on estimation of sales turnover, he cannot revisit his own order for taxing the assessee on sales turnover.

Second Reopening Invalid if Based on Change of Opinion: ITAT

Supreme Court dismisses Revenue SLP, upholding High Court relief in CIRP-linked Income tax proceedings dispute case

SC Upholds CIRP Relief; Refuses to Interfere in Tax Dispute of Reliance Projects and Property Management Services

SC upholds cancellation of Income Tax proceedings against Reliance Projects and Property Management Services

Notifications

The amendment corrects a formatting Issue in part A (General Information) of Form ITR-U (Updated Income Tax Return).

CBDT notifies new changes in Form ITR-U [Read Notification]

Penalty under Section 271(1)(c) cannot be imposed where an addition is based purely on estimation without concrete evidence of concealment.

ITAT Deletes Penalty Where Additions Are Based on Estimation Alone

News

Form 141 is a unified challan-cum-statement that simplifies multiple PAN-based TDS payments into a single, easy-to-use form effective from April 1, 2026.

Goodbye Multiple TDS Forms! IT Dept Notifies New Unified Form 141; Effective April 2026

Articles

An Ajmer washerman received income tax notice for transactions worth Rs 598 crore. A lost PAN card was allegedly used, and a police investigation is underway regarding a case of identity fraud.

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Second Reopening Invalid if Based on Change of Opinion: ITAT

SC upholds cancellation of Income Tax proceedings against Reliance Projects and Property Management Services

CBDT notifies new changes in Form ITR-U [Read Notification]

ITAT Deletes Penalty Where Additions Are Based on Estimation Alone

Goodbye Multiple TDS Forms! IT Dept Notifies New Unified Form 141; Effective April 2026

Ajmer's Washerman Receives Rs 598 Crore Income Tax Notice, Case of Fake Transaction Using a Lost PAN Card