Income Tax
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Revenue’s Appeal Dismissed as Year Falls Beyond 10-Year 153A Scope
Section 69A Cash Deposit Dispute Reopened Due to Missing Agriculture Evidence
No Return, Ex-Parte Heavy U/s 69A Addition – But Lack of Hearing Saves Assessee at ITAT
Reimbursement of Forex Loss Not Taxable Due to Capital Nature
AO Cannot Blow Hot & Cold—TDR Allowed; Penalty Deleted; Interest Disallowance Gone
Discounts Not Capital Outlay: Tribunal Rejects Intangible Asset Theory
Assessment Quashed Due to Unsigned Notices Under Sections 148/148A
CIT(A) Passed Order After Assessee’s Death—Violation of Natural Justice; Matter Remanded for Fresh Hearing
Share Capital & Premium Fully Explained – Addition of ₹1.13 Cr Deleted
ITAT Orders Fresh Inquiry After Assessee Fails to Produce Proof Against ₹1 Cr Section 68 Addition
Best-Judgment Addition of ₹3.10 Cr u/s 69A Set Aside for Denial of Fair Hearing
Reassessment Declared Invalid Due to Non-Issuance of Mandatory 143(2) Notice
FDR Addition Remanded Because AO Failed to Verify Bank Records
Huge Agricultural Income Accepted as Genuine – No Contrary Evidence from AO
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.
