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.
Section 271D Penalty Quashed Because Transaction Was Accepted as Genuine
Transfer Pricing: Forex Fluctuation is Operating Income/Cost in Cost-Plus Transactions
Disallowance of claim doesn’t amount to furnishing of inaccurate particulars, hence no penalty u/s. 271(1)(c)
Cumulative Monthly Advances, Not Incremental Figures, Govern Section 36(1)(viia) Deduction
Post condoning delay, revisional authority wrongly dismissed petition u/s. 264 on ground of delay
Draft Assessment Issued in Name of Amalgamated Company Held Void Ab Initio
SC Dismisses Revenue Appeal as Assessments Time-Barred Due to Delay After ITAT Remand
Reassessment Upheld Due to No Prior Examination of Section 80HHC Deduction Claim
Reassessment Quashed for Failure to Verify Bank Statement on ₹50 Lakh Threshold
Bombay HC Set Aside Jewellery Release Rejection for Lack of Jurisdiction
Foreign Exchange Loss Allowed as Not Notional Under Mercantile Accounting
Section 80JJAA Deduction Cannot Be Fully Denied for Partial 240-Day Non-Compliance
Capital Gains Taxable Despite Gram Panchayat Certificate When Land Is Within 8 km of Municipality
Reassessment Quashed as Deduction Under Section 80P(2)(d) Was Legally Allowable
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.
