Income Tax
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Unsigned Digital Reassessment Notices Held Void – ITAT Quashes Entire 147 Proceedings
Multiple Houses Eligible for Section 54 Relief Prior to 01.04.2015: ITAT Delhi
Unsigned Mauritius Financials Sink Section 68 Defence – ITAT Restores ₹6.30 Crore Share Premium Addition
AO Cannot Travel Beyond Scope of Section 263 Directions – ITAT Upholds Deletion of Fresh Additions
Reassessment Beyond 4 Years Quashed – ITAT Says AO Must Specifically Allege Failure to Disclose Material Facts
Depreciation on Amalgamation Goodwill allowable for AYs prior to AY 2021-22
ITAT Slams ‘Sweeping’ 263 Revision – PCIT Cannot Order Fishing Enquiries After Detailed Scrutiny by AO
Assessment Quashed for Wrong Section – ITAT Holds AY Falling Within U/s 153C Block Cannot Be Assessed U/s 143(3)
No Addition u/s 69 When Property Payments Flow Through Explained Bank Accounts – ITAT Deletes ₹3.29 Crore Addition
GST Cancellation Alone Cannot Make Purchases Bogus – ITAT Restricts Addition to 5% Profit Element
Delhi ITAT Quashes Reassessment for ‘Reason to Suspect’ – Cash Deposits Alone Can’t Justify Reopening
No 271(1)(c) Penalty on Peak Credit Additions: ITAT Deletes Penalty After Quantum Relief on Estimated Basis
SC Dismisses Challenge to Reassessment Reopening Based on Alleged Accommodation Entries
Gujarat HC Upholds Reopening of Assessment Based on Alleged Accommodation Entries
Latest Income Tax News
Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.
Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.
Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.
