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.
Faceless Assessments Trigger Harassment of Agriculturists Despite Exempt Income
Section 270A Penalty Invalid for Loss Reclassification from Business to Speculative
Section 148 Notice Held Invalid Due to Breach of Faceless Reassessment Rules
Disallowance u/s. 14A restricted to extent of exempted income earned during relevant year
Only Unexplained Portion of Cash Deposits Can Be Taxed: ITAT Chennai
Non-examination of issue of depreciation claimed on goodwill justifies revision u/s. 263
Penalty Deleted as Addition Was Based on Estimation
Section 205 Bars Denial of TDS Credit for Employer’s Default: ITAT Mumbai
Depreciation on Amalgamation Goodwill Allowed Under Settled Law
Section 68 Loan Addition Solely on Third-Party Statement Fails if no Independent AO Inquiry
ITAT Delhi Upholds Section 80-IC Deduction for Lotus Herbals; Bogus Expansion Claims Rejected
ITAT Mumbai: Invalid Section 148 Notice Leads to Deletion of Tax Demand
Section 68 Addition Fails Without Proof of Actual Penny Stock Trades: ITAT Mumbai
Stamp Duty Value on Allotment Date Applies Under Section 56(2)(x): ITAT Mumbai
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.
