Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...
Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....
Income Tax : The Tribunal held that BLT cannot be used for transfer pricing adjustments on AMP expenses. It ruled that no adjustment was warran...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
CIT Vs Patel Engg. Ltd. (Bombay High Court) The appeals before the Bombay High Court arose from orders of the Income Tax Appellate Tribunal (ITAT) allowing deduction under Section 80-IA(4) of the Income Tax Act, 1961 to the assessee for Assessment Years 2000–01 and 2001–02. The central issue was whether the assessee qualified as a […]
The Tribunal found inconsistency between payment date and share allotment date, raising doubts about the transaction. It held that these factual issues require verification. The matter was remanded to the AO for fresh examination.
The court held that reassessment cannot be initiated on issues already examined during scrutiny. It ruled that reopening based on the same material amounts to a change of opinion and is invalid.
Tribunal held that GST-based turnover differences cannot be taxed again when income was already recorded in prior years and notional interest recognized under IND-AS cannot be taxed unless it actually accrues.
The court examined whether delay in filing returns during insolvency proceedings constituted genuine hardship. It held that delay caused due to CIRP and management transition must be condoned to avoid unjust denial of tax benefits.
The case examined whether share premium could be taxed without proof of unaccounted funds. The Tribunal held that Section 56(2)(viib) cannot be invoked without establishing such inflow, leading to deletion of the addition.
The case examined whether bank deposits could be taxed as unexplained credits. The Tribunal held that Section 68 applies only to entries in books of account, leading to deletion of the addition.
Tribunal held that technical handling income is covered under Article 8 of India–France DTAA. It ruled that such income arises from operation of aircraft in international traffic and is not taxable in India.
The Tribunal held that protective additions cannot be sustained without establishing the assessee as the actual beneficiary of cash credits. It upheld deletion where ownership was not proven.
This guide explains why income is deemed to accrue in India under Sections 5 and 9 of the Income-tax Act, focusing on residential status, business connection, and indirect transfers.
