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 : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : Even genuine reporting differences between Form 3CD and the ITR can attract automated scrutiny. This article explains key reconcil...
Income Tax : The article explains that 30 June is the Department's deadline to issue scrutiny notices for eligible returns, not a filing deadli...
Income Tax : AI can simplify tax work but cannot replace professional judgment in income tax filing. The article explains why human review rema...
Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The Tribunal held that contradictory third-party statements and unverified allegations cannot form the sole basis for taxing alleg...
Income Tax : The ITAT held that an untested third-party statement, without supporting evidence or cross-examination, cannot form the sole basis...
Income Tax : The ITAT held that Section 263 cannot be invoked where the Assessing Officer has made necessary inquiries and adopted a plausible ...
Income Tax : The ITAT held that BSNL employees are entitled to full exemption under Section 10(10B) for compensation received under the 2019 VR...
Income Tax : The ITAT Mumbai held that revision under Section 263 was not justified where the Assessing Officer had examined and consciously al...
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...
ACIT Vs Precision Realtors P. Ltd. (ITAT Delhi) A perusal of the sale deed show that the seller was the absolute owner and was in actual possession of the impugned property. Nowhere in the sale deed, there is a mention of encumbrance / encroachment in the impugned property. This fact has been completely ignored by […]
Anand And Anand appeal success against ACIT order. ITAT Delhi ruling on TDS provisions. Key legal insights by Anand Bhattacharya, tax expert.
Bhartiya City Developers Pvt. Ltd Vs Addl. CIT (ITAT Delhi) A conspectus of Explanation-1 to Section 271(1)(c) of the Act, makes it clear that the statute visualizes the assessment proceedings and penalty proceedings to be wholly distinct and independent of each other. While the Assessing Officer may be justified in making estimated disallowance in quantum […]
Rule 17A of Income Tax Rules, 1962 clearly explained that self certified copies of documents are sufficient for the claiming exemption under section 12AA
Shri Narendra Kumar Khandelwal Prop. M/s Ranjana Textiles Vs ITO (ITAT Jaipur) Interest free funds available: The law is well settled that where assessee is having mixed i.e. interest free/interest bearing funds both, but where the interest free funds are larger than the interest free advances/utilization than there will a presumption that the interest free […]
Agriculture is exempt from income tax under Section 10(1). Taxes on agricultural income falls under Entry 46 in ‘State List’ under the Constitution of India. Thus, only the State Governments are competent to enact legislations for taxation of agricultural income and levy income tax. Thus, farmers who have no other sources of income are not required to file income tax returns.
Addl. CIT Vs Mayur Batra (ITAT Delhi) When the taxable income of the tax-payer has to be computed on the basis of partial information in Return and remaining on queries put by the Ld AO during assessment, then in the next place the sum payable by assessee, on the basis of such computation has to […]
An appeal can be filed only on the basis of order/intimation, against which the assessee is aggrieved. In the absence of any such document, it will not be possible for any appellate authority to address the grievance of the assessee
Gupta Synthetics Ltd Vs DCIT (ITAT Mumbai) It was observed that the assessee had entered into a sale deed dated 13/03/2012 with Numech Synthetics P Ltd for sale of land at Dadra in UT Dadra and Nagar Haveli for a sale consideration of Rs.70 lakhs. A registered agreement dated 13/03/2012 was executed. The assessee contends […]
ITAT find that since registration is restored by ITAT, the assessee is entitled for claiming deduction U/s. 11 in impugned assessment year
