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.
Payment of non-compete fees to retiring partner is revenue expense
ITAT Chennai deletes demonetisation cash deposit addition – Once books are accepted, cash sales cannot be treated as unexplained money u/s 69A
No reassessment u/s. 148 as income earned in NRE account exempt u/s. 10(4)(ii)
ITAT Chennai restricts addition on cash deposits – Treats assessee as commission agent, estimates income at 4% instead of taxing entire deposits
CIT(A) Didn’t ‘Set Aside’—He Just Told AO to Do the Maths! ITAT Slams Revenue’s Hyper-Technical Appeal
ITAT Upholds 100% Penalty on Confirmed Additions Past-Loss Adjustment Irrelevant for 271(1)(c)- Substantial Justice for Delay, No Relief on Merits
Revised Return No Bar to Full 244A Interest Entitlement – Refund Interest to Run from 1 April 2017-up to Date of Refund Draft Issue
Notice u/s 148 After 3 Years Needs Pr.CCIT Approval – ITAT Says Sanction by Pr.CIT Invalid, Reopening Quashed
Form 15CB Filed, TDS Deposited & DTAA Followed – ITAT Deletes 201(1)/201(1A) Demand as No Default Exists
Notice u/s 148 Issued 20 Days Late – ITAT Applies Rajeev Bansal & Gujarat HC, Quashes Reopening as Time-Barred
AO Accepted Agri Income in Next Year but Denied in Earlier Year Without Logic – ITAT Deletes Addition as CIT(A) Adopted “Whims & Fancies”!
PAN Cannot Override Legal Ownership- ITAT Blasts Revenue for Taxing Individual Instead of HUF/Trust
PCIT Rightly Invoked : AO Ignored Mandatory DSIR Form 3CL for R&D Deduction
Revision u/s 263 Invalid: AO Asked Questions, Assessee Answered, Matter Closed!- ITAT Chandigarh to PCIT- Depth of Enquiry is AO’s Domain, Not Yours
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.
