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...
The Tribunal held that TCS credit cannot be denied when tax was collected from the assessee, even if the collector failed to deposit it.
The Tribunal ruled that a mere disallowance of depreciation, with full disclosure of facts, does not attract penalty under Section 270A.
Revenue counted limitation from the third-party search date, while the assessee argued it should start from document handover. ITAT Delhi agreed, holding the assessment outside the six-year period, thereby voiding it.
The Tribunal found that satisfaction under Section 153C was recorded long after the search and document transfer. Applying binding judicial precedent, ITAT ruled that the assessment was barred by limitation and therefore null and void.
The issue was whether accumulated income could be taxed merely because it was not spent exactly for the purpose stated in Form-10. ITAT Delhi held that as long as funds are applied toward charitable educational objects, technical lapses or non-intimation to the AO cannot defeat exemption under Section 11.
The Tribunal found that alleged cash payments lacked any agreement, bank trails, or confirmation from recipients, making the addition legally untenable. ITAT emphasized adherence to evidentiary standards under Section 65B and deleted the addition entirely.
Jaipur Tribunal observed that the son had no independent income, and the purchase was made solely from the assessee’s funds. Consequently, restriction of exemption to 50% by the CIT(A) was set aside, confirming full Section 54F relief.
ITAT Jaipur held that withdrawing approval under section 10(23C)(vi) of the Income Tax Act not justified in absence of any corroborative evidence of personal benefit of trustees and misuse of funds. Accordingly, appeal allowed and registration u/s. 10(23C)(vi) restored.
ITAT Chennai held that issuing a notice under Section 148A(b) with only one day to respond violates the statutory minimum of seven clear days. All consequential proceedings, including the 148 notice and reassessment, were quashed as non-est, while substantive additions were left open as academic.
The Tribunal highlighted that non-receipt of assessment notice and lack of knowledge about tax procedures justified the 175-day delay. The appeal was restored to the AO, ensuring the assessee is given proper opportunity to present his case.
