Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reason

Student gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; She wins case in ITAT Delhi; Know how did she win and what is the income tax treatment of scholarship.

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NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITAT

The NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge and had entrusted an accountant with all her tax-related compliance; hence, she was not made aware of the notices issued. Moreover, after becoming aware of her mistake, the lady even paid the tax liability with appropriate interest. Read on to know how ITAT ruled in her favour.

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Advance tax deadline today: What will be the consequences if you miss September 15, 2026, due date?

The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs penal interest charges. Advance tax is income tax paid in instalments during the financial year. Individuals with a tax liability exceeding Rs 10,000 must pay advance tax. Penal interest under Sections 234B and 234C applies for late or short payments.

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Indian moves to US for job, forgets to file ITR, Income Tax Dept imposes Rs 8.29 lakh penalty; ITAT Jaipur cancels penalty and gives full relief

Indian employee working in US imposed with Rs 8.29 lakh penalty for missing to file ITR after moving to US; ITAT Jaipur cancels penalty and gives full relief. ITAT Jaipur’sSMC bench who heard this case composed of Annapurna Gupta, accountant memberand Kuldip Singh, judicial member.

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Rs 6.42 lakh travel expense disallowed as business expenditure over use of wife’s credit card; businessman contests tax order, wins relief in ITAT Mumbai

Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit card to pay for it; ITAT Mumbai gives relief to taxpayer. Challa Nagendra Prasad, Judicial Member and G.M. Doss, Accountant Member of ITAT Mumbai heard this case.

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Taxable income below Rs 12 lakh: Will you pay zero income tax if this income includes LTCG and STCG for Tax Year 2026-27?

Indian residents and HUFs can use the basic exemption limit to lower capital gains tax. This provision under the Income Tax Act, 2025, remains available for Tax Year 2026-2027. Unused portions of the exemption limit can offset special-rate capital gains after normal income is accounted for. Non-residents, firms, and companies cannot claim this specific tax adjustment.

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Rs 1.17 crore interest income of minor child: Father faces Rs 12.83 lakh penalty; ITAT Delhi cancels it

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent judgement ruled that a father can’t be slapped with Rs 12.83 lakh penalty under Section 270A if his ITR-reported income matches the assessed income and the only point of contention is the tax benefit from the India-United Arab Emirates (UAE) DTAA treaty.

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Delhi HC acts big on fake GST registrations, rules no GST registration without biometric-based Aadhaar authentication

In light of many fraudulent GST registrations, the Delhi High Court has ruled that no Goods and Services Tax (GST) registration can be obtained without Aadhaar biometric authentication. Read the article to know more.

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Rs 1.09 crore remittance sent to home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT Ahmedabad

Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no ITR, got an unexplained money tax notice u/s 69; he partially wins case in ITAT Ahmedabad

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Foreign bank balance may be small, but its value could be much higher: How FAST-DS 2026 values your foreign assets

A foreign bank account with a small closing balance may have a much higher value under FAST-DS 2026. This article explains how different types of foreign assets are valued, what happens when proceeds from an old foreign asset are invested in a new asset and why valuation matters for the Rs 1 crore limit for undisclosed foreign income/assets and the Rs 5 crore limit for specified cases of technical non-reporting of foreign assets.

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Rs 2.42 lakh FD investment and Rs 1.06 lakh cash deposits, no ITR filed, got income tax notice; senior citizen wins case in ITAT Jaipur after 9-year fight

No ITR filed, yet Rs 2.42 lakh FD investment, Rs 1.06 lakh cash deposits triggers tax notice for senior citizen; she wins case in ITAT Jaipur after 9 years fight. Know how Mrs Devi won the case in ITAT Jaipur.

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Rs 34 lakh F&O trading loss: Income Tax dept calls it speculative, ITAT Delhi treats Rs 25 lakh as business loss

Taxpayer lost Rs 34 lakh in F&O trading but reports it as business loss; Income Tax dept treats it as speculative loss; ITAT Delhi treats Rs 9 lakh as speculative and the rest as business loss. The ITAT Delhi bench comprised of Sudhir Kumar, Judicial Member and Manish Agarwal, Accountant Member.

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Will you pay lower income tax on mutual fund capital gains after retirement? Know 7 ways to reduce your tax burden

Retirement doesn't mean tax-free mutual fund income. Understand how capital gains, IDCW payouts, and SWPs are taxed. Discover strategies like leveraging rebates, choosing between Growth and IDCW, and planning withdrawals to minimize your tax burden and maximize post-retirement income. Plan wisely for a secure financial future.

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