Judgement

The ITAT Mumbai deleted the Rs 20,000 penalty under Section 272A(1)(d), holding that the delay caused by an email hack was a genuine reason and not a wilful default.

ITAT Deletes Section 272A(1)(d) Penalty, Accepts Email Hack as Genuine Cause for Delay

The tribunal held that the matter required fresh verification and remanded it back to the Assessing Officer for fresh examination.

ITAT Chennai Sends Case Back for Re-verification as AO Not Given Opportunity

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Income Tax 2026-27 Dates, ITR Filing Last Date 2026, Advance Tax Due Dates, Income Tax, New Income Tax Rules, ITR Forms List and Eligibility, Tax Filing Deadline, TDS TCS Due Dates, Forms andTax Rules Simplified.

Income Tax return: Complete Income Tax Guide, Important Dates, ITR Forms and New Rules Explained

The ITAT held that in cases related to alleged bogus purchases, only the profit portion in such purchases should be taxed, not the full amount.

Only Profit, Not Full Purchases Taxable: ITAT Reduces Alleged Bogus Purchase Addition from 25% to 12.5%

An individual failed to report foreign ESOPs in Schedule FA in the first year of compliance, though taxes were already paid. The tax officer imposed a ₹10 lakh penalty, upheld by CIT(A). The appellant argued it was a genuine, unintentional mistake due to initial confusion.

Employee Penalized Rs. 10L for Not Disclosing Foreign ESOPs: ITAT Deletes Penalty for Bona Fide Error

ITAT rules the ARC trust as a pass-through; income from NPAs is taxable in SR holders.

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ITAT Deletes Section 272A(1)(d) Penalty, Accepts Email Hack as Genuine Cause for Delay

ITAT Chennai Sends Case Back for Re-verification as AO Not Given Opportunity

Income Tax return: Complete Income Tax Guide, Important Dates, ITR Forms and New Rules Explained

Only Profit, Not Full Purchases Taxable: ITAT Reduces Alleged Bogus Purchase Addition from 25% to 12.5%

Employee Penalized Rs. 10L for Not Disclosing Foreign ESOPs: ITAT Deletes Penalty for Bona Fide Error

ITAT Holds Securitisation Trust Not Taxable; Income Taxable in Investors’ Hands