Judgement

The ITAT concluded that the assessee had sufficiently proved the genuineness of the transactions and had discharged the burden.

ITAT Deletes Section 68 Additions Once Identity, Creditworthiness & Genuineness Are Proven

The Supreme Court of India will decide whether the Income Tax Department can condone a 30-day delay in filing ITRs under Section 119(2)(b) of the Income Tax Act, 1961.

Supreme Court to Decide IT Dept's Scope to Condone 30 Months Delayed ITR Under Section 119(2)(b)

News

The Income Tax Department is renumbering and consolidating major income tax forms from April 2026 to simplify compliance and reporting.

Tax Made Simple: Major Form Changes and Compliance Updates for 2026

The I-T Dept has warned taxpayers about a surge in fake refund messages and phishing scams, urging people to verify updates only on the official portal.

Government Alert: Your Pending Tax Refund Message Could Be a Scam

Articles

A state-wise inspection revealed that Karnataka had the most deleted transactions, worth Rs 2,000 crore, followed by Telangana with Rs 1,500 crore.

Biryani Billing Scam: I-T Dept Detects Rs 70,000 Crore Hidden Sales Across India

The tax authorities has intensified its data-driven scrutiny of high-earning executives for underreporting income, concealing foreign assets, and claiming bogus exemptions.

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ITAT Deletes Section 68 Additions Once Identity, Creditworthiness & Genuineness Are Proven

Supreme Court to Decide IT Dept's Scope to Condone 30 Months Delayed ITR Under Section 119(2)(b)

Tax Made Simple: Major Form Changes and Compliance Updates for 2026

Government Alert: Your Pending Tax Refund Message Could Be a Scam

Biryani Billing Scam: I-T Dept Detects Rs 70,000 Crore Hidden Sales Across India

Tax Authorities Target Executives Earning Over Rs. 50 Lakh for Underreported Income and Fake Exemptions