Income Tax
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Assessment Quashed for Wrong Section – ITAT Holds AY Falling Within U/s 153C Block Cannot Be Assessed U/s 143(3)
No Addition u/s 69 When Property Payments Flow Through Explained Bank Accounts – ITAT Deletes ₹3.29 Crore Addition
GST Cancellation Alone Cannot Make Purchases Bogus – ITAT Restricts Addition to 5% Profit Element
Delhi ITAT Quashes Reassessment for ‘Reason to Suspect’ – Cash Deposits Alone Can’t Justify Reopening
No 271(1)(c) Penalty on Peak Credit Additions: ITAT Deletes Penalty After Quantum Relief on Estimated Basis
SC Dismisses Challenge to Reassessment Reopening Based on Alleged Accommodation Entries
Gujarat HC Upholds Reopening of Assessment Based on Alleged Accommodation Entries
No Section 40(a)(ia) Disallowance for Short TDS Deduction When Payee Has Paid Tax: Bombay HC
Loan Processing Fees on LAP/LRD Loans Not Deductible Under Section 24(b): ITAT Upholds Disallowance
For Section 56(2)(x) Stamp Duty Value on Allotment Date Must Be Considered: ITAT Mumbai
ITAT Quashes Reassessment as Confidential Reopening Materials Were Not Supplied
Section 153C Assessment Invalid as AO Failed to Record Proper Satisfaction: ITAT Delhi
Short-Term Commercial Loan Repaid with Interest Cannot Be Branded as Bogus Entry: ITAT Deletes ₹80 Lakh Section 68 Addition
Step to Step guide for filing ITR-1 (SAHAJ) for AY 2026-27
Income Tax is TaxGuru’s extensive resource for developments under India’s direct tax laws. This category covers Income-tax provisions, rules, notifications, circulars, instructions, judicial decisions and practical compliance issues. Readers can explore articles and case laws on income-tax returns, assessments, reassessment, deductions, exemptions, capital gains, business income, TDS and TCS, tax audit, penalties, appeals, international taxation and other direct tax matters. The category also covers important CBDT announcements, tax deadlines, return filing developments and changes affecting individuals, businesses and other taxpayers. Chartered Accountants, advocates, tax professionals, companies and taxpayers can use this section to follow legislative, administrative and judicial developments and research important Income Tax issues and precedents.
