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Man did not file ITR, faced Rs 17.18 lakh penalty over alleged Rs 55.62 lakh unexplained cash deposits; ITAT Mumbai deletes penalty because tax officer invoked wrong provision

The Times of India 10 Oct 2026
Man opted for VRS after employer shut plant, got Rs 65.21 lakh and reported it as advance salary in ITR; Section 89 relief was denied, but ITAT Pune later ruled it a non-taxable capital receiptThe ...
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Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: ...

The Economic Times 05 Oct 2026
Wife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for ancestral family jewellery worth Rs 67 lakh; she claimed it’s ancestral and wins relief in ITAT Mumbai ... .
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Woman declared Rs 67.4 lakh ancestral jewellery in her ITR which led to additions by tax department; ITAT Mumbai deleted it on basis of old records, but rejected her Rs 12 lakh HUF brokerage claim

The Times of India 05 Oct 2026
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has given partial relief to a Mumbai taxpayer who was asked to explain jewellery worth Rs 67.39 lakh disclosed in her income tax return ... Now get your AI Quotient. Take the AIQ test. .
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Income Tax Audit, ITR Deadlines Extended For AY 2026-27: Check Revised Dates

News18 29 Sep 2026
CBDT extendes deadline for furnishing tax audit reports from September 30 to October 21; the due date for such ITR has also been extended from October 31 to November 21 ....
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ITR deadline extended to November 21: Which taxpayers get the extension?

International Business Times 29 Sep 2026
The revised sequence means taxpayers covered by the extension will have to complete their audit report by October 21 and file the applicable ITR by November 21 ... Zomato, Blinkit Help 2.10 Lakh Partners File ITR, ₹33.6 Crore Refunds Unlocked.
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Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh ...

The Economic Times 28 Sep 2026
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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CBDT extends ITR deadline for taxpayers with audited accounts to 21 November

Live Mint 28 Sep 2026
The deadline has been extended to 21 November from 31 October, while the deadline for submitting the audit report has been extended to 21 October from 30 September, the ministry of finance said in a statement on Monday ....
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