Income Tax
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Section 271(1)(c) Penalty Cannot Be Imposed for Valuation Differences Without Proof of Inaccuracy: SC
LTCG Addition Deleted as Assessee Proved Genuine Investment Activity Through Evidence
Loose Papers Without Identifiable Link Cannot Justify Reassessment: Gujarat HC
Section 54 Exemption Allowed as Possession Date Considered Over Registration Date
Section 263 Invalid as AO Conducted Proper Inquiry & Took Plausible View: ITAT Surat
SC Remits Section 148A Reassessment Row Back to High Courts
Income Tax: Madras HC Orders Fresh Review Due to Ignored Remand Report Evidence
Bogus Purchase vs Non-Genuine Purchase in Income Tax: Key Differences, Case Laws & Tax Impact
Reopening Invalid Due to Change of Opinion on Same Material: Bombay HC
No Substantial Question of Law Where AO Accepts Claims in Remand: Karnataka HC
SC Dismisses Penalty as Capital vs Revenue Receipt Issue Held Debatable
P&H HC Deleted Penalty as Subsidy Classification Held Debatable Issue
Miscellaneous Application Rejected as Tribunal Lacks Power to Review Its Own Order
Penny Stock LTCG Cannot Be Treated as Bogus Without Independent Evidence: ITAT Delhi
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.
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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.
