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 : Failure to file ITRs can result in interest, late fees, loss of refunds, and missed tax benefits. Beyond taxation, it may also aff...
Income Tax : A comprehensive overview of Income Tax Return filing obligations, due dates, belated and revised returns, updated return provision...
Income Tax : The document explains tax rates applicable to individuals, HUFs, firms, companies, co-operative societies, foreign companies, and ...
Income Tax : Resident senior citizens aged 60 years or above are exempt from paying advance tax if they do not earn income from business or pro...
Income Tax : This guide explains how taxpayers can challenge assessment, reassessment, penalty, and other specified orders before the Joint Com...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding ...
Income Tax : The Allahabad High Court quashed a reassessment after finding that the Section 148 notice was based on an incorrect allegation of ...
Income Tax : The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a b...
Income Tax : Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Win...
Income Tax : The Tribunal ruled that third-party WhatsApp messages and decoded chat entries lacked evidentiary value against the assessee witho...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
The Tribunal accepted the assessee’s explanation that unspent cash withdrawn for labour and petty expenses was redeposited into the same bank account. The Section 68 addition was consequently deleted.
The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between companies and shareholders across different legislative phases.
Pune ITAT remanded the matter after the assessee explained that responses meant for the assessment appeal were inadvertently uploaded in the penalty appeal portal.
Section 265 of the Income Tax Act, 2025 specifies who can legally verify an income tax return for different assessees. Incorrect verification may result in the return being treated as invalid, affecting refunds and carry-forward losses.
Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making a 10% purchase disallowance. The addition was deleted as it was based only on assumptions derived from portal data.
ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4) when they actually execute infrastructure projects and bear the associated risks. The Tribunal ruled that the JV structure formed only for bidding does not defeat eligibility.
The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction for capital gains purposes. It therefore directed taxation in AY 2018-19 and allowed the Section 54 claim.
ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to an incorrect email address. The matter was remanded for fresh adjudication.
Delhi ITAT held that Dividend Distribution Tax paid on dividends to non-resident shareholders could be restricted to the treaty rate under applicable DTAAs. The Tribunal relied on the Bombay High Court ruling that DDT is, in substance, a tax on shareholder dividend income.
ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and bank records. The Tribunal ruled that additions under Section 69A cannot be sustained merely on suspicion.
