Judgement

ITAT ruled that duly recorded cash deposits cannot be treated as unexplained and that income cannot be arbitrarily estimated without rejecting the books of accounts.

ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books

ITAT holds land, which remains agricultural despite temporary non-use and allows a capital gains exemption claim.

Agricultural Land Status Retained Despite Temporary Non-Use, Rules ITAT

Articles

A concise comparison of the Old and New Tax Regimes for FY 2026-27, highlighting key differences in deductions, exemptions, and overall tax benefits to help you choose the most suitable option.

Old vs New Tax Regime for Tax Year 2026-27

The ITAT cited the Supreme Court's ruling that a mere wrong claim, without concealing facts, does not amount to "furnishing inaccurate particulars".

Penalty Under Section 271(1)(c) Cannot Be Imposed When No Income is Concealed: ITAT

The ITAT deletes the penalty holding disallowance of the Section 54 claim and does not amount to concealment.

ITAT Deletes Penalty; Disallowance of Section 54 Claim Not Concealment

The ITAT restores the appeal, holds the advance tax condition inapplicable, and sets aside penalty proceedings.

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ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books

Agricultural Land Status Retained Despite Temporary Non-Use, Rules ITAT

Old vs New Tax Regime for Tax Year 2026-27

Penalty Under Section 271(1)(c) Cannot Be Imposed When No Income is Concealed: ITAT

ITAT Deletes Penalty; Disallowance of Section 54 Claim Not Concealment

Ex Parte Assessment Set Aside; Appeal Restored Despite Advance Tax Issue