Income Tax
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Finance Bill 2026 Clarifies Who Can Issue Reassessment Notices Under Section 148
Assessment Quashed – Order by Non-Jurisdictional AO Void ab Initio: ITAT Chennai
Foreign HSBC Account Addition Deleted – BUP ID & Base Note Insufficient: ITAT Mumbai
Interest on Savings Bank Eligible u/s 80P(2)(a)(vi) – Totgars Distinguished: ITAT Chennai
Section 263 Revision Upheld Due to AO’s Failure to Examine ₹669 Crore Trust Receipt
Section 69C Addition Deleted – Survey Statement Alone Insufficient: ITAT Chennai
Transport income to be estimated using U/s 44AE as guiding yardstick: ITAT Chennai
Online Gaming Winnings Addition Remanded – Fresh Examination Directed: ITAT Chennai
Excess stock addition restricted – Survey working flawed; only disclosed difference taxable – ITAT Bangalore
Reassessment Quashed – Invalid Sanction u/s 151(ii) by PCIT After 3 Years: ITAT Chennai
U/s 12AB registration cannot be denied on apprehensions – Matter restored; U/s 80G rejection also set aside – ITAT Mumbai
Cash Found During Survey Explained – Gifts & Receipts Accepted; Additions Deleted: ITAT Bangalore
U/s 80P(2)(d) deduction on interest restored to AO – Delay overlooked in interest of justice; verification directed as per SC ruling – ITAT Mumbai
Reopening invalid – Failure to supply material u/s 148A(b) violates natural justice; assessment quashed – ITAT Mumbai
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.
