NRI woman gets relief as ITAT cuts income tax penalty from 200% to 50%: Know why
Failing to disclose income in an income tax return (ITR) can result in a substantial penalty from the Income Tax
Income Tax Recent News – 2026
Advance tax collection rises over 16%
With strong growth from corporate side, advance tax collection after the first two instalments jumped over 16 per cent, data
Delhi HC sets aside Amazon Web Services tax reassessment over ₹4,500 crore remittances, sends case for fresh look
In a relief to Amazon Web Services Inc. (AWS), the Delhi high court on Thursday set aside an income-tax department
Name in father-in-law’s diary leads to Rs 33.50 lakh tax addition; ITAT deletes it
A handwritten diary entry bearing a taxpayer’s name is not enough, by itself, to establish that the person incurred unexplained
Bitcoin sale triggered ₹1.24 crore tax addition, but ITAT quashed the reassessment. Here’s why
A Mumbai taxpayer faced reassessment proceedings for assessment year 2018-19 after the tax department treated ₹1,24,55,654 from bitcoin sales as
ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief
A taxpayer cannot be made to pay higher tax merely because an accountant made a clerical error while filing the
Centre moves Supreme Court over striking down of Income Tax Section 147A
The Union government has moved the Supreme Court against a Punjab and Haryana High Court ruling that declared Section 147A
Will the government extend the September 30 tax audit deadline?
The September 30, 2026 deadline for filing tax audit reports for assessment year (AY) 2026-27 is fast approaching, but the
‘Parliament did not envisage this course’: Why Supreme Court barred assessing officer from reopening tax settlement
The Supreme Court on Wednesday (September 16) held that an Assessing Officer (AO) cannot use the ordinary reassessment route under
CBDT signals simpler tax regime for mutual fund investors, says focus should shift from transactions to ease of compliance
The Central Board of Direct Taxes (CBDT) is looking at ways to make taxation simpler for India’s rapidly expanding retail
