Income Tax
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Asset received for testing purpose not taxable u/s. 28(iv) as there is no benefit on use of such asset
Addition set aside as Percentage of Completion Method on real estate accounting duly followed ICAI guidelines
CIT(A) Ignored Evidence on Record – Non-Speaking Order Set Aside
Beyond the Deadline: Reassessment Quashed Following SC’s Rajeev Bansal Ruling
Section 271AAB Penalty Not Automatic Without Incriminating Material: ITAT Indore
Consolidated Satisfaction Note Invalidates Search Assessment; 153C Proceedings Quashed
ITAT Upholds ₹80.42 Lakh Cash Addition; 17 Contributors Story Rejected as Improbable
Unexplained Money: ₹6.90 Lakh Addition u/s 68 Deleted as Cash Belonged to Seven Legal Heirs
ITAT Remands Unexplained Opening Cash Issue to AO for Bank Withdrawal Verification
Delay Condoned for Police Official on Special Duty; Appeal Restored for Merits
Section 69 Addition Deleted as Property Investment Fully Funded from Foreign Salary
HC Deletes ₹10 Cr Addition: “Bogus” Loan Claims Rejected Due to Lack of Incriminating Material
CIT(A) Free to Verify Evidence: ITAT Delhi Rejects Rule 46A Objection—All Disallowances Deleted
ITAT Delhi Quashes Reopening for Wrong AY, No Failure to Disclose & Mechanical Approval
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.
