Income Tax
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Penalty Deleted as Incorrect Carry-Forward Loss Claim was Bona Fide Error: ITAT Chandigarh
Reassessment Quashed – Section 151 Approval Held Mechanical; No Application of Mind by PCIT
Addition Deleted as Clerical Mistake Doesn’t Overrule Substantive Evidence
Quashed Reassessment: Borrowed Info & Sec 151 Approval Invalid
Notional Claims Against CPRPL Cannot Substitute Real Accrual for Tax
Madras HC Quashes Income Tax SCNs, Notes Active Email Use; Imposes ₹50,000 Cost
Invalid 153C Satisfaction Note – No Nexus Between Seized Diary & Assessee; Addition Deleted
Defective Affidavit Leads to Dismissal of 317-Day Late Appeal
Orissa HC Rejects Faceless SOP Breach Claim, Directs Taxpayer to Use Statutory Appeal Route
Section 263 Order Quashed for Wrongly Alleging Lack of Enquiry – What ITAT Clarified
Section 271D Penalty Cannot Be Levied Without Recorded Satisfaction: Gujarat HC
ITAT Deletes Section 69A Addition for Bank Deposits from Liquor Receivables
Post-2002 Sec.17(3) Amendment Covers All Termination Payments
CIT(A)’s Deletion of Rs. 25.24 Cr u/s 68 Upheld as AO Accepts Cash Sales in Remand Report
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.
