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 article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
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 ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
Giant Construction Company Vs DCIT (Madras High Court) The petitioner assails the communication dated 21.04.2022 by which the objections raised by the petitioner to the reopening of the assessment were rejected. The petitioner asserts that the impugned communication is in contravention of the amended Section 148-A of the Income Tax Act, 1961. Upon the insertion […]
Sanwalchand Udaychand Bafna HUF Vs ITO (ITAT Mumbai) From the order of learned CIT(A) it is evident that it is assessee’s contention that the amount received is actually arrears of interest. Hence, the sum cannot be considered as cash credit. The learned CIT(A) despite noting these facts has mechanically confirmed Assessing Officer’s order without any […]
Intelsat Corporation Vs ACIT (ITAT Delhi) Ld. AO erred in not appreciating that appellant being a resident of USA is covered by the beneficial provisions of DTAA between India and USA and accordingly, could not be taxed under the provisions of the Act. The Ld. Counsel for the assessee submitted that, the issues involved in […]
Net Direct Tax collections for the Financial Year 2022-23 grown at over 45% Net Direct Tax collections for the F.Y. 2022-23 continue to grow at a robust pace further fortifying the economic revival Gross Tax collections for the Financial Year 2022-23 grown at about 40% Advance Tax collections for F.Y. 2022-23 stand at Rs. 1,01,017 […]
Final order in the re-assessment proceedings is yet to be passed. Hence, the writ petition itself was premature and no relief could be granted thereof.
It is not at the whim or fancy of a tax authority to decide as to what constitutes ‘beneficial ownership’; it is absolutely fundamental that as what constitutes beneficial ownership must also be examined and categorical findings are given as to how these requirements of beneficial ownership are satisfied in the present case.
Tata Sponge Iron Limited Vs DCIT (ITAT Cuttack) The fundamental requirement of showing the income from “eligible” unit in the gross total income is mandatory which was not complied by the assessee in order to claim deduction u/s.80IA of the amount equal to the income generated by the eligible unit. Facts- The appellant is company […]
Karcher Cleaning Systems Pvt Ltd. Vs ACIT (ITAT Delhi) The assessee is a pure trading company involved in the distribution activity without adding any value to the purchased product and hence the RPM is the most appropriate method. Facts- The assessee is a subsidiary of Karcher Beteilgungs GmbH which started its commercial activities on 16.04.2011 […]
Dr. Kalpana Alexander Vs. ACIT (ITAT Hyderabad) There is nothing to contradict the opinion of the learned PCIT that there is failure on the part of the learned Assessing Officer to make the minimum enquiry, let alone sufficient enquiry on this aspect. Assessment order held erroneous. Facts- The assessee is an individual, and a medical […]
Indus Towers Ltd Vs Income Tax Officer (Delhi High Court) Having perused the letter dated 9th May, 2022 written by the Income Tax Officer, Ward 6(2), Jaipur, this Court is of the view that the said Income Tax Officer had no jurisdiction to issue notice dated 14th March, 2022 to propose initiation of reassessment proceedings, […]
