Income Tax
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Change of Opinion Based on Existing Records Held Invalid; Section 148 Notice Set Aside
Sec 263 Revision Quashed as PCIT Failed to Conduct Independent Enquiry: ITAT Amritsar
Survey Surrender & Diary Entries Held Insufficient – ₹266 Cr Addition Deleted – Statements u/s 133A Have No Evidentiary Value Without Corroboration – ITAT Amritsar
Additions Based on Third-Party Ledger Deleted – Identity Not Proved & No Independent Enquiry – Revenue Appeal Dismissed; Reopening Upheld – ITAT Ahmedabad
Broader Scope of Virtual Digital Assets in India’s New Income Tax Act 2025
Reopening Quashed; Labour Income Already Disclosed & 26AS TDS Reflected; Revenue Appeals Dismissed: ITAT Ahmedabad
Sec 263 Quashed; AO Probed Renuka Mata Society Credits; No Revision on Suspicion: ITAT Ahmedabad
Bogus Purchase Addition Restricted to 25% Upheld – Entire Disallowance u/s 69C Rejected – Revenue Appeal Dismissed – ITAT Amritsar
Salary in NRE A/c Not Taxable; Foreign Employment Income Received Outside India: ITAT Ahmedabad
Sec 147 Reopening After 4 Years Invalid; Audit Objection Not Tangible; Bad Debt MAT Issue Fails: 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.
