A senior citizen successfully appealed to the ITAT Bangalore, securing partial relief in a tax dispute over the sale of a Bengaluru property. The tribunal allowed a significant portion of his claimed acquisition and improvement costs, overturning the tax officer's disallowance of Rs 11.35 lakh for construction expenses and partially allowing Rs 20.23 lakh for improvements, while disallowing travel expenses.

Waiting months for your income tax refund? The government may owe you interest. While CBDT Chairman Ravi Agrawal has attributed recent delays to the review of improper deduction claims and expects to clear pending refunds by December, learn when you qualify for interest, common reasons behind refund delays, and the steps you can take to expedite your pending ITR refund.

Employees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax Department is now harnessing cutting-edge data analytics to uncover exaggerated refund requests. This scrutiny could result in tax audits, significant fines, or even criminal charges. If taxpayers realize they've made errors, they should promptly submit amended returns to mitigate these risks.