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The Latest Breaking News from CIT

Embattled CIT appoints new acting CEO and deputy after weeks of speculation

Dr McNeill is still on leave, with no stated return date.

The Canberra Times

Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains why

Retired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as tax notice was issued 26 days after the limitation period had expired. Know how he won case in ITAT Bangalore.

The Economic Times

'Overly litigious and combative': call for investigation into CIT chief executive

The committee stopped short of finding her in contempt of the assembly.

The Canberra Times

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Student's graphic injury at Floriade pulls CIT 'cowboy' safety culture into spotlight

CIT board member confirms serious safety incident.

The Canberra Times

Union 'deeply disturbed' by job cuts at CIT

The CIT will offer voluntary redundancies to staff.

The Canberra Times

ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claim

Builder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent liability; ITAT Mumbai cancels tax notice and rejects tax dept's contention. Know the full details of what happened in this case.

The Economic Times

CIT orders investigation into electric vehicle training program

Chief executive's previous denial under new spotlight.

The Canberra Times

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Second Lawsuit Challenging Trump's New Section 301 Tariffs Filed

It was filed by several businesses, including Learning Resources, Inc., which was also involved in the IEEPA tariff litigation.

Reason

NRI sells his Bangalore property for Rs 2.63 crore, declares Rs 16.33 lakh LTCG, gets tax notice; he fights and wins partial relief from ITAT for this reason

Sold property for Rs 2.63 crore and reported Rs 16.33 lakh LTCG, claimed home loan interest, travel, water, electricity and brokerage as expenses; Tax dept denied the expenses; ITAT Bangalore allows partly allows his expenses claim. Know why did the NRI win the tax case in ITAT Bangalore.

The Economic Times

'Medical issues' cause delays in CIT chief's case against previous employer

Court has heard of delays in case against TAFE NSW.

The Canberra Times

Canberra Institute of Technology board refuses to explain CEO's absence

Dr Margot McNeill hasn't been seen at work for two weeks.

The Canberra Times

Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him relief

A husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading using his wife's demat account and gifting her Rs 1.15 crore, the tax department argued the Rs 1.95 crore loss, including Rs 80 lakh from her own funds, was hers…

The Economic Times

Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full relief

When Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment and thus he filed his income tax return (ITR) on October 29, 2021. In his ITR he declared a total income of Rs 31.62 lakh after claiming tax exemption…

The Economic Times

Federal Circuit Stays Enforcement of Ruling Against Trump's Section 122 Tariffs

The ruling is flawed on both substantive and procedural grounds.

Reason

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The Economic Times

Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declaration

Mr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted shares. The ITAT Delhi ruled that depositing unutilized funds in the Capital Gains Account Scheme was unnecessary as the property was purchased before filing the ITR. The tribunal also…

Reason

The Trump Administration Is Still Fighting To Keep Billions in Illegal Tariff Revenue

The administration has paid $20 billion in refunds. Now, it is asking a federal appeals court to limit which businesses will get the rest.

The Canberra Times

How the ACT is silencing public servants who want a better deal for Canberrans

Two public servants spoke up. The government voted for silence.

The Canberra Times

'There's no way' hire cars were taken apart by CIT students, CEO says

CIT CEO rejects 'offensive' allegations.

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The Canberra Times

Canberrans at 'significant risk of injury or death' after unqualified CIT students pull apart hire cars

CIT CEO allegedly did not respond to whistleblower's warnings.

The Canberra Times

CIT advertised deputy position weeks before CEO's misconduct was revealed

'CIT has been experiencing a range of cost pressures,' minister says.

The Canberra Times

The sink was smashed, her hand was broken and she was about to become homeless

'It can happen to anybody. It happened to me.'

The Economic Times

Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reason

A Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled in his favor, stating that since he used the entire capital gains to purchase a new property before filing his belated return, depositing the funds…

Reason

US Court of International Trade Refuses to Stay Injunction Against Trump's Section 122 Tariffs

The decision means the injunction blocking collection of the tariffs will not be blocked while litigation continues.

MarketBeat

CI&T Q1 Earnings Call Highlights

CI&T (NYSE:CINT) reported record first-quarter 2026 revenue and raised its full-year outlook, citing broad demand for artificial intelligence-related services and early traction from new pricing models designed to capture more of the value created by AI-driven productivity gains. Founder and CEO Ce

Reason

Federal Court: Trump's Newest Tariffs Are Also Illegal

Trump's use of Section 122 ignored the plain language of the law and invoked a broad executive power where Congress clearly provided a narrow one.

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