Income Tax
Log in to FollowLatest Income Tax news, articles, notifications, circulars and case laws covering ITR, assessments, deductions, TDS, capital gains, tax audit, appeals and compliance.
“Common Family Cash Pool” Theory Fails: Mumbai ITAT Upholds Section 271AAA Penalty
Section 80G CSR donation deduction cannot be denied merely for CSR expense disallowance: Mumbai ITAT
Dumb Excel Sheets” cannot justify massive additions: Mumbai ITAT
Without purchases there cannot be sales – Mumbai ITAT rejects 100% bogus purchase addition
Mumbai ITAT quashes reassessment for AY 2015-16 – AO’s “artificial inflation” of escaped income held legally unsustainable
No addition for “bogus purchases” when assessee already declared higher GP – Mumbai ITAT grants major relief to diamond trader
Section 194C TDS Cannot Create Tax Liability on Dissolved Firm if Receipts Already Offered to Tax
Bank Accounts Cannot Remain Frozen After ITAT Remand of Tax Appeals: Gauhati HC
ITAT Remands ₹38.04 Lakh Tax Addition as Legal Heir Was Not Given Effective Opportunity
ITAT Quashes Assessment as DRP Order Upload Date Determined Limitation Period
ITAT deletes ₹5.68 Crore Addition as Encashed Bank Guarantees Were Govt Funds
Delay in Filing Form 10B Not Grounds to Deny Section 11 Exemption When Report Was Filed Before Processing
ITAT Deletes ₹3.03 Crore Addition as AO Failed to Conduct Independent Verification
Pune ITAT Allows Section 80P(2)(d) Deduction on Co-operative Bank Interest; Totgars Not Applicable
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.
