Income Tax
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Reopening invalid – Failure to supply material u/s 148A(b) violates natural justice; assessment quashed – ITAT Mumbai
Addition U/s 69 for alleged on-money deleted – No corroborative evidence denial of cross-examination violates natural justice – ITAT Mumbai
Reassessment notice u/s 148 quashed – Income below ₹50 lakh wrong sanctioning authority – ITAT Mumbai
Section 153C Addition U/s 69 Deleted – Third Party Statement Loose Paper Held Insufficient
Deduction U/s 54F Allowed – Deposit in CGAS Not Mandatory if Investment Made Within Extended Time
WhatsApp Chats Alone Cannot Prove ₹23 Cr On-Money; Refurbishment Proposal Accepted & Addition U/s 69 Deleted
Commission Allegation Based on Dumb Excel Sheet Rejected by ITAT Delhi
Penny Stock Addition u/s 68 Set Aside; Reopening Held Invalid for lack of Mind Application
U/s 80IAC Deduction Allowed Subject to Filing Form 10CCB – Technical Lapse Held Curable
U/s 69A Addition Partly Sustained – Estimated Relief Granted Considering Household Savings
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.
