Income Tax
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Sec 263 Quashed; AO Examined 10AA & R&D; Audit Objection Based Revision Invalid: ITAT Mumbai
Tolerance Band Benefit Allowed Even After DVO Valuation – Sec 56(2)(x) Addition Deleted: ITAT Mumbai
ITAT Mumbai: New Asset Needn’t Be Put to Use; Possession Not Mandatory; Sec 50 STCG Reworked
Bogus Purchase Addition U/s 69C Deleted – Export Sales Stock Records Proved Genuineness: ITAT Mumbai
ITAT Hyderabad Deletes Sec 56(2)(viib) Addition; AO Cannot Alter Assessee’s DCF Valuation
ITAT Rajkot Deletes Search Additions Penalty – Agricultural Income Accepted, Diary Receivables Assessed on Peak Basis, Sec 271AAA Penalty Quashed
Vivad Se Vishwas Benefit Cannot Be Denied When Penalty Appeal Is Pending: Bombay HC
Provision Based on Actual Bills Cannot Be Disallowed Without Verification: ITAT Mumbai
₹6 crore Section 68 Addition Deleted as Lenders Confirm Loans in Remand Proceedings
ITAT Mumbai Deletes LTCG Addition as No Evidence Linked Assessee to Penny Stock Rigging
ITAT Chandigarh Quashes Sec 143(3) in Search Case; AO Must Act Under Sec 148; Revenue Appeal Dismissed
ITAT Raipur Deletes Sec 69A Addition; Joint A/c Cash Not Taxable in Wife’s Hands if Husband Owns It
Depreciation allowable on difference between slump sale consideration and value of tangible assets
ITAT Rajkot Upholds Sec 263; Failure to Verify Share Capital Source of Source Makes Order Erroneous
Latest Income Tax News
Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.
Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.
Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.
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Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.
