Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Assessee was a illiterate farmer. Assessment was completed by making an addition of Rs. 1,55,00,000/- u/s 69 on account of purchase of immovable property. Assessment order as well as CIT (A) order, dismissing the appeal, were passed ex-parte.
CPRI, Bengaluru, approved as a ‘Research Association’ under section 35 of the Income-tax Act, 1961, for tax benefits from AY 2025-26 to 2029-30.
Visakhapatnam ITAT ruled against depreciation claims for uninstalled machinery by ACIT vs Mithra Kyokuto, citing lack of operational evidence for A.Y. 2012-13.
Delhi High Court held that initiation of reassessment proceedings under section 148 of the Income Tax Act liable to be quashed in as much as conditions set out in section 150 of the Income Tax Act not fulfilled.
ITAT Ahmedabad held that tax rate u/s. 115BBE of the Income Tax Act increased from 30% to 60% and the same is applicable only with effect from 1st April 2017 and not prior to the same. Hence, appeal allowed to that extent.
ITAT Delhi remanded the matter back to the file of AO (TDS) for proper verification of quantum of External Development Charges (EDC) for demand of tax under section 201(1) of the Income Tax Act.
Denial of registration under section 12AB to a trust engaged in fund-raising activities was not correct as one-time fund raising programme carried out by assessee-trust was not an organized activities in the nature of business akin to selling of lottery tickets.
CIT(A) without looking into the merits of the case and detailed submissions filed by assessee also without considering the CBDT Circular No. 20/2016 dismissed the appeal as time barred. Thus for the casual attitude of the Revenue in dismissing the appeal twice was liable to pay a cost of Rs. 10,000/- to the assessee to meet the ends of justice.
Explore the proposed scheme for resolving unresolved tax demands, easing taxpayer burdens, and improving compliance through fair, transparent mechanisms.
Telangana HC examines Rapiscan Systems’ challenge on Income Tax assessment delays and statutory compliance in the 2018-19 and 2019-20 fiscal years.
