Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
ITAT Delhi deletes an unexplained investment addition, ruling that the assessee provided sufficient documentary evidence to prove the source of funds for a property purchase.
The Delhi ITAT has ruled that a penalty cannot be imposed when income is based on estimation. It deleted penalties on a taxpayer where cash deposits were assessed as estimated business profits, not unexplained income.
Tribunal holds cash deposits of ₹1.25 crore matching turnover in books cannot be treated as unexplained income u/s 69. Revenue’s appeal dismissed.
Tribunal rules reassessment notice by Jurisdictional AO after 29.03.2022 invalid under Faceless Assessment Scheme; all proceedings quashed.
ITAT Delhi has annulled a tax reopening against RMP Holdings Pvt. Ltd., citing improper sanctioning authority and a lapse in the statutory time limit.
The ITAT Delhi has deleted a ₹8.79 lakh addition, ruling that cash deposits in a joint bank account were properly explained as the wife’s income.
ITR-7 for AY 2025-26 has significant changes. Learn about the new reporting rules for trusts and non-profits, including donor disclosures and capital gains.
ITAT Delhi deletes disallowance of ₹23.71 lakh, ruling that foreign exchange loss on business advances is an allowable business expenditure for Sitac Re Pvt. Ltd.
TAT Delhi Remands Rs 82 Cr 153C Additions, Terms CIT(A) Order Mechanical; Rubber-Stamping Not Allowed: ITAT Delhi Quashes Non-Speaking CIT(A) Order in 153C Case
ITAT Bangalore ruled that an AO cannot re-initiate assessment after a PCIT ‘sets aside’ an order without providing fresh directions, quashing a cash deposit addition.
