Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...
Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Chennai Income Tax Appellate Tribunal clarifies that designated funds and life membership fees for charitable societies are capital receipts, not taxable income.
ITAT Hyderabad held that for the invocation of section 92BA of the Income Tax Act, there is no necessity for the assessee for opting/ claiming the deduction U/s. 80IA of the Income Tax Act. Accordingly, appeal of the assessee dismissed.
ITAT Ahmedabad held that addition on account of cash credit in the current year cannot be sustained where department had accepted the re-payment of loans in subsequent year. Accordingly, addition confirmed by CIT(A) deleted and appeal allowed.
Pursuant to the search operation, a show-cause notice was issued to the appellants as required u/s. 127 of the Act, proposing to centralise the income tax files relating to the appellants to the Central Circle in Kolkata.
ITAT Delhi held that denial of exemption u/s. 11 of the Income Tax Act by invoking provisions of section 13(1)(c) without any material brought on record to substantiate that salary paid to members were excessive.
ITAT Mumbai orders DVO reference in Fakhruddin T. Malik case, ruling AO erred by not valuing disputed property despite assessee’s request.
ITAT Kolkata ruled on taxing property received with an unregistered agreement in one FY and sale deed in another, clarifying Section 56(2)(x) applicability.
Delhi ITAT addresses an appeal dismissed due to amalgamation, emphasizing that an existing appeal can continue under the amalgamated entity.
Kolkata ITAT allows assessee’s appeal, ruling that a tax assessment was invalid because the Section 143(2) notice did not comply with mandatory CBDT instructions on format.
Madras High Court held that reopening of assessment under section 148 of the Income Tax Act not sustainable since assessee has fully and truly disclosed all the material facts. Accordingly, order along with notices are liable to be set aside.
