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 new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...
Income Tax : Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensu...
Income Tax : Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to a...
Income Tax : The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance and improves...
Income Tax : Tax authorities are increasingly questioning decision logic behind TDS deductions. The lack of recorded reasoning in ERPs makes co...
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 : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : The issue was whether a reassessment notice issued by a jurisdictional officer instead of a faceless officer is valid. The Court h...
Income Tax : The Tribunal held that addition under Section 41(1) cannot be made without proof of actual cessation of liability. It found that m...
Income Tax : The Tribunal ruled that surrender of tenancy rights occurs only upon receiving new property possession. As possession was given la...
Income Tax : The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be t...
Income Tax : The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action violates principl...
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...
Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Section 153.
The ITAT held that additional evidence filed under Rule 46A cannot be brushed aside without examination. Since the documents were vital to Section 68 requirements, the matter was remanded for fresh adjudication.
The ITAT held that a trust cannot be faulted for missing a statutory deadline when compliance was factually impossible. The rejection of 80G renewal was set aside and remanded for fresh consideration on merits.
The assessee argued that revision proceedings were vitiated as they followed an audit objection. The ITAT rejected this plea, holding that audit-based information can validly trigger revision if conditions of section 263 are met.
The ITAT held that revision under Section 263 cannot be invoked merely because the PCIT disagrees with the Assessing Officer’s view. Once enquiries are made and explanations accepted, substitution of opinion is impermissible.
The ITAT held that even a small part payment through banking channels before or on the agreement date is sufficient to invoke the provisos to section 56(2)(vii)(b)(ii). Substantial payment or possession is not a statutory requirement.
The Tribunal held that a final assessment passed after the expiry of Section 153 is invalid, even if it follows DRP directions. The is that limitation under Section 153 remains mandatory and cannot be bypassed through the DRP route.
ITAT held that disclosures in an election affidavit cannot, by themselves, justify reopening an assessment. The ruling reinforces that reassessment requires fresh tangible material and a live link to income escaping assessment.
ITAT Pune held that a claim of agricultural income cannot be accepted without supporting records. Complete non-compliance at all stages justified treating the receipts as unexplained income.
The Bombay High Court held that Section 153A cannot apply to years without incriminating material, reinforcing the principle that tax additions require concrete evidence.
