Income Tax
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Reopening Quashed: Mechanical Sec 151 Approval Invalid; “Yes, I am Satisfied” Insufficient: ITAT Kolkata
Bona Fide Claim by Charitable Trust Not Misreporting, 200% Penalty Unsustainable: ITAT Mumbai
Addition U/s 69 Deleted; AO/CIT(A) Inconsistency & No On-Money Evidence – ITAT Mumbai
Registration Not Determinative; Stock-in-Trade Taxable on Possession & Consideration – Rs 10.81 Cr Deleted – ITAT Mumbai
Allotment Letter Treated as Agreement to Sell – Stamp Value on Booking Date to Apply U/s 56(2)(x)
Section 271(1)(c) Penalty Deleted Because Addition Was Based on Estimated Bogus Purchases
Reopening Quashed – Sec 151 Approval by PCIT Invalid Beyond 3 Years; Reassessment Void – ITAT Mumbai
Reassessment Quashed: Sec 143(2) Notice Mandatory in 147 Cases; Return Filed Within TOLA Time Valid – ITAT Kolkata
Buyback Taxation in India: Evolution from Early Provisions to Budget 2026 Reforms
Reassessment Beyond 3 Years Void for PCIT Approval Instead of PCCIT – 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.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
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.
