Income Tax
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Reassessment Quashed for Being Time-Barred: ITAT Holds 148 Notice Beyond Six-Year Limit
Delhi ITAT Quashes Reopening Based on Mere Audit Objection: No New Material to Invoke Section 147
Limitation Starts From Service, Not From Convenience – CIT(A) Directed to Reconsider 42-Day Delay
Non-Application of Mind Invalidates Section 148A & 148 Notices: SC Upholds HC Decision
Addition Remanded as New Evidence Admitted Under Rule 29
Income Tax Reassessment Notice Invalid as AO Relied Only on Faulty Audit Objection
Writ Petition Not Maintainable in Penalty Proceedings with Factual Disputes
Reassessment Quashed for Missing 143(2) Notice and Ignoring Valid Return
PAN Mismatch Triggers Reassessment Remand for Import Verification
Reassessment Quashed Due to Mismatch Between 148A(b) Notice and 148A(d) Order
Disallowance Based on Wrong Person’s Statement Cannot Stand: Delhi ITAT
Borrowed Satisfaction & Zero Independent Enquiry: ITAT Delhi Sets Aside Reassessment
ction 194H Not Applicable to Prepaid SIM/Recharge Discounts: ITAT Delhi
Assessments Quashed as Blank Letterheads Cannot Form Evidence: ITAT Delhi
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.
