18-September-2026
Taxation
 
Man sells Rs 1.24 Cr bitcoin, faces tax demand on entire sale proceeds; ITAT says this
17-Sep-2026

A taxpayer facing a Rs 1.24 crore addition over bitcoin sale proceeds has received relief from the Mumbai Income Tax Appellate Tribunal. The tribunal found that the Income Tax Department had not obtained approval from the authority required by law before reopening his assessment. The case concerns Mohammed Hasseb Mohammed Hanif Khan vs Income Tax Officer, Ward 34(2)(1), Mumbai, ITA No. 4713/Mum/2026, for Assessment Year 2018–19. The ITAT Mumbai Bench F pronounced its order on September 11, 2026.

News Source:- https://www.financialexpress.com/money/man-sells-rs-1-24-cr-bitcoin-faces-tax-demand-on-entire-sale-proceeds-itat-says-this-4340617/?ref=personalfinance_hp