Income Tax
Log in to FollowLatest Income Tax news, articles, notifications, circulars and case laws covering ITR, assessments, deductions, TDS, capital gains, tax audit, appeals and compliance.
80P deduction admissible on interest earned by co-operative society from deposits with co-operative and nationalized banks
Disallowance on alleged fictitious loss without incriminating material cannot be sustained
Writ dismissed as reassessment notice u/s. 148 held to be in time
Unsecured Loan Addition Unsustainable Without Contrary Evidence
Debatable MAT Computation Cannot Be Rectified Under Section 154
Section 263 Revision Quashed for Absence of Exempt Income
Ex-Parte Appeal Dismissal Set Aside for Lack of Reasoned Order
Reassessment Quashed as JAO Lacked Jurisdiction After Faceless Scheme
Appeal Dismissed on Delay Remanded for Merits Despite Non-Compliance
Accepted Closing Cash Cannot Be Treated as Unexplained Income
Reassessment Quashed for Issuance of Notice Outside Faceless Regime
Reopening After 3 Years Invalid If Escapement Is Below ₹50 Lakh
Section 263 Validly Invoked for Allowing Section 80P in Belated Return
Capital Gains Recomputed After Proving Gift-Funded Purchase Cost
Income Tax is TaxGuru’s extensive resource for developments under India’s direct tax laws. This category covers Income-tax provisions, rules, notifications, circulars, instructions, judicial decisions and practical compliance issues. Readers can explore articles and case laws on income-tax returns, assessments, reassessment, deductions, exemptions, capital gains, business income, TDS and TCS, tax audit, penalties, appeals, international taxation and other direct tax matters. The category also covers important CBDT announcements, tax deadlines, return filing developments and changes affecting individuals, businesses and other taxpayers. Chartered Accountants, advocates, tax professionals, companies and taxpayers can use this section to follow legislative, administrative and judicial developments and research important Income Tax issues and precedents.
