Income Tax
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Section 68 Addition Deleted for Want of Cross-Examination; Three Ingredients Proved – ITAT Kolkata
U/s 143(1)(a) Adjustment Invalid Without Prior Intimation; No Addition for Bad Debt Already Offered to Tax – ITAT Mumbai
No Transfer U/s 2(47) – Temporary Alternate Flat Not Taxable – ITAT Mumbai
Reopening Invalid: Sec 148 Notice Before Sec 151 Approval Communication – Jurisdictional Defect Fatal – ITAT Kolkata
Borrowed Satisfaction and Mechanical U/s 151 Approval Invalidate 147 Reopening – ITAT Kolkata
Addition U/s 69 for Alleged On-Money Deleted – Third-Party Statements & Pen-Drive Data Without Cross-Examination Held Invalid – ITAT Mumbai
Defective U/s 271(1)(c) Notice Makes Penalty Void; No Merger on SLP Dismissal – ITAT Chennai
Allotment Date Stamp Value Applies u/s 56(2)(x), Not Registration Value Where Prior Cheque Payment Made – ITAT Mumbai
Integrated Cooling System Module Held Distinct Product; 80-IC Deduction Allowed – ITAT Chennai
Delhi HC Dismisses Reopening Based Solely on Audit Objection
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.
