Rs 9.91 lakh income tax refund for senior citizen after proving that he mistakenly paid income tax on tax-free bonds; ITAT Delhi order explained

Mr Ajay Kumar Bakaya a senior citizen from Gurgaon faced a significant tax issue when he accidentally overpaid income tax on his tax-free bonds’ exempt interest income. After discovering this error, he filed a rectification application, which was initially rejected. He filed a case in ITAT Delhi and won it on September 23, 2026.

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My NRI status changed. Will interest earned on my NRE FDs be taxable in India?

ET Wealth reader's query: I was an NRI until FY2024–25. After relocating to India, my residential status changed to ‘resident’ from FY2025–26. While I was an NRI, I invested in fixed deposits through my NRE account, and these deposits are due to mature in FY27. Will the interest earned on these NRE fixed deposits be taxable in India?

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Man paid lower income tax by setting off business loss against long term capital gains but received income tax notice; wins case in ITAT Delhi

Man pays lower income tax by setting off business loss with long term capital gains but gets income tax notice; Wins case in ITAT Delhi. ITAT Delhi held that since the law does not prescribe any sequence of set-off a taxpayer may choose his own sequence.

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Deadlines for income tax audit and ITR filing extended for AY 2026-2027 to these dates

The Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 2026-27. Taxpayers subject to audit now have until November 21, 2026 to file their returns. Additionally, the tax audit deadline has been shifted to October 21, 2026, providing more time for compliance. Chartered Accountants must upload the tax audit report on behalf of their clients through the e-filing portal.

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Buying property abroad for your NRI child? Know how much Indian parents can transfer and the tax implications

Navigating overseas property purchases for NRI/OCI children can be complex for Indian parents, entangled in regulations like FEMA and RBI's Liberalised Remittance Scheme. From understanding allowable remittance limits to distinguishing between gifts and loans, families must carefully plan to avoid potential tax and compliance issues. Learn the critical steps to streamline the funding process.

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Can you save tax by gifting money to your HUF? How Section 99 changes the tax equation

Money or property gifted by a member to an HUF may not be taxable in the HUF’s hands because of the “relative” exemption. But the tax consequence for income generated from such property is different. This article explains why transferring self-acquired assets to an HUF does not provide the intended tax-saving benefit.

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Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reason

When Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs 7.65 lakh income, this raised many red flags within the income tax systems. He wins case in ITAT Delhi.

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Purchased property below market value, filed no ITR, got income tax notice, paid the tax but asked to pay Rs 70,000 penalty; ITAT Delhi gives full relief

Rs 70,000 penalty imposed on man for buying property below market value even though he paid the due tax after getting a notice; ITAT Delhi cancels penalty

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Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reason

Bangalore landowner wins unexplained money case in ITAT after proving he sold vegetables and fruit for large amount of cash to APMC

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US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT Delhi

Rs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how

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Tenant received Rs 1.38 crore worth of flats for surrendering tenancy rights for society's redevelopment, he received income tax notice; Know how he won the case in ITAT Mumbai

Tenant receives Rs 1.38 crore permanent alternate accommodation, gets Section 56(2)(x) tax notice; ITAT Mumbai gives relief; know why. This judgement was given by Vikram Singh Yadav, the Accountant Member along with Siddhartha Nautiyal, the Judicial Member of ITAT Mumbai.

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Missed ITR deadline and TDS refund is due? Know how to claim your refund before it’s too late

Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing belated returns, potential fees, interest, and the crucial condonation process if even that window has passed. Understand the implications for carry-forward losses and deductions. Avoid common mistakes to ensure your refund is processed smoothly.

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Income Tax Rules 2026 amended: CBDT revises Form 169, Form 171; extends these deadlines

The Central Board of Direct Taxes has rolled out significant amendments to income tax regulations for 2026, particularly affecting electronic communication and tax recovery processes. The deadlines for registering valuers and income tax professionals have been pushed back, allowing applicants until March 31, 2027, to finalize their registrations.

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