News

The Income Tax Department is upgrading systems and training staff to ensure a glitch-free transition to the new tax regime.

Big Changes Ahead: Government to Introduce New ITR Forms and Tax Law in 2026

Judgement

The Tribunal cited previous judgements and held that the joint ownership at the time of sale of assets does not disqualify the assessee from claiming a deduction under Section 54F.

Joint Ownership of More than One Residential Property Does Not Disqualify Deduction Under Section 54F: ITAT

The Tribunal noted that the ITR, which included the cash sales, was accepted by the AO and making an addition would result in double taxation

Demonetisation addition deleted on Cash sales duly recorded in VAT return and ITR

The ITAT noted that even though the assessee could not fully substantiate the expenses, it was unfair to reject the claim.

ITAT Grants Partial Relief on Cash Deposit and Indexed Cost of Construction Claims

ITAT Delhi deleted a wrong tax demand after holding that a simple ITR entry mistake must be corrected by the AO during scrutiny, as the 143(1) order merges with the 143(3) assessment.

ITAT Delhi Deletes Rs. 7.08 Crore Demand due to Simple ITR Typing Error

Since the mistake was genuine and bona fide, the ITAT decided to set aside the order of the CIT(A) and directed the Assessing Officer to condone the default

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Big Changes Ahead: Government to Introduce New ITR Forms and Tax Law in 2026

Joint Ownership of More than One Residential Property Does Not Disqualify Deduction Under Section 54F: ITAT

Demonetisation addition deleted on Cash sales duly recorded in VAT return and ITR

ITAT Grants Partial Relief on Cash Deposit and Indexed Cost of Construction Claims

ITAT Delhi Deletes Rs. 7.08 Crore Demand due to Simple ITR Typing Error

AO Directed to Excuse Mistaken Exemption Selection in ITR