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 : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
Income Tax : This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance,...
Income Tax : The article explains how transactions between associated domestic entities exceeding ₹20 crore must comply with arm's length pri...
Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Delhi ITAT held that the full value of unaccounted sales cannot automatically be treated as taxable income. It restricted the ...
Income Tax : Addition of capital gain was deleted as impugned land being agricultural land situated beyond the prescribed municipal limits and ...
Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....
Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Faceless Assessment – Get to know its advantages & disadvantages with the Government of India’s initiative to reduce taxpayers’ compliance burden. This blog post gives an overview of the scheme.
Although the terms merger and acquisition are commonly associated, there are some differences. A merger unifies two entities into one, whereas an acquisition includes one company purchasing and acquiring another.
ITAT Kolkata held that disallowance under section 40a(ia) of the Income Tax Act for non-deduction of TDS untenable if payee has duly disclosed the receipt of the impugned payment in their return of income.
ITAT Chennai held that expenditure towards furniture maintenance which is incurred to make the lease premises workable and functional is revenue in nature.
ITAT Kolkata held that inadvertent mistake of claiming exemption under section 10(23C)(vi) of the Income Tax Act instead of section 10(23C)(iiiab) of the Income Tax Act is mistake apparent from record which is rectifiable under the provisions of section 154 of the Income Tax Act.
ITAT Jaipur held that condonation of delay cannot be granted merely on the basis of sympathy or benevolence. Further, condonation of delay rejected alleging lack of diligence and inaction on the part of the assessee.
ITAT Mumbai held that reopening of assessment without valid reason or intangible material, merely on the basis of information from Electricity Authroity, is not sustainable in the eye of law.
ITAT Delhi held that amount received under the Master Franchise Agreement cannot be treated either as royalty or Fee for Technical Services (FTS) or FIS and hence addition deleted.
ITAT Mumbai held that estimated rate of profit applied on the alleged non-genuine purchases doesnt amount to concealment of income or furnishing inaccurate particulars. Accordingly, penalty u/s 271(1)(c) of the Income Tax Act unsustainable.
ITAT Held that, only 10% of the purchase would be added to the Appellant’s income in case where the Appellant was unable to prove the supplier’s identity. Further remanded back the matter for verification.
