India Tax News – smeaccountant

ITAT Remands ₹2.15 Crore On-Money Addition Pending Developer’s Appeal Findings

Tax authorities recently faced a procedural turning point when the Income Tax Appellate Tribunal (ITAT) set aside a disputed financial addition amounting to ₹2.15 crore. The tribunal ordered a fresh…

Prasenjit Bhowmik August 15, 2026

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Jodhpur ITAT Rules Penny Stock LTCG Cannot Be Invalidated Without Direct Evidence

In a notable legal development, the Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) has ruled that long-term capital gains (LTCG) from penny stocks cannot be dismissed as bogus…

Prasenjit Bhowmik August 14, 2026

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Hyderabad ITAT Deletes ₹12.69 Lakh Demonetisation Cash Addition

The Hyderabad ITAT deleted a 12.69 lakh tax addition, ruling that verified bank records prove the source of cash deposited during demonetisation.

Prasenjit Bhowmik August 11, 2026

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Tribunal Clarifies CSR Donations Remain Eligible for Section 80G Tax Deductions

Discover how the ITAT ruling confirms CSR donations are eligible for Section 80G tax deductions, clarifying tax relief for businesses.

Prasenjit Bhowmik June 1, 2026

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ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials

A New Procedural Path for Charitable TrustsThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling providing a procedural lifeline to charitable trusts that have failed to file Form…

Prasenjit Bhowmik May 30, 2026