7 additional information and details required in ITR-1 and ITR-4 for A.Y. 2025–26, especially for taxpayers in the Old Regime:
Once the source of cash is accepted and taxed under Section 269SS, second addition under Section 69A on the same amount is impermissible and amounted to double taxation.
Purchasers cannot be left at the mercy of the seller as they can also not compel the selling dealer to file the return within stipulated time and deposit the tax Collected.
Notice under Section 148 Issued by Jurisdictional AO Instead of Following Faceless Assessment Scheme: ITAT Quashed the proceeding
Order u/s 119(2)(a) of the Income-tax Act,1961 regarding processing of returns filed u/s 139 of the Income-tax Act, 1961 beyond the prescribed time limit