Tag: Income Tax Reassessment

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Man had Rs 2 crore bank deposit and didn’t file ITR, faced Rs 2.51 crore tax addition; ITAT Chennai quashes reassessment after Income Tax Department missed 6-year deadline by 5 days

October 9, 2026
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The case concerned assessment year 2015-16 and the changes brought to the law governing reassessment notices…

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Retired senior citizen teacher deposited Rs 1.33 crore cash, but filed no ITR; taxman added Rs 48.73 lakh, ITAT quashes reassessment, here’s why

September 21, 2026
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The cash deposits prompted the department to examine whether the senior citizen had any income that…