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.
No Need for CGAS Deposit If Entire Capital Gains Utilised Before Filing Return – Matter Remanded for Verification
Section 68 Addition Deleted in Search Case – No Incriminating Material Dumb Documents Rejected
Reassessment Quashed for Lack of Jurisdiction: AO Became Functus Officio After Section 127 Transfer
Section 68 Addition Deleted – Suspicion on Lender’s Finances Cannot Replace Evidence
Bogus Purchase Addition Restricted to 15% – Entire Disallowance Held Unsustainable
Consistency Over Technicalities – ITAT Allows Actuarial Pension Provision & Rejects Mechanical Disallowances
Application for NIL withholding tax rightly rejected since taxability matter pending before ITAT
Reassessment Quashed – Invalid Sanction by PCIT Instead of PCCIT Beyond 3 Years
Penalty Cannot Survive Without Quantum Addition – ITAT Upholds Deletion u/s 271(1)(c)
Capital profit from sale of Fixed Assets to be routed through P&L rather than directly taken to reserves
Section 80G Rejection Set Aside – Absence of Irrevocability Clause Not a Valid Ground
Additional Evidence Admitted Post Death – ₹7.79 Cr Addition Restored for Fresh Verification
Credit Card Payments Explained – Addition u/s 69C Deleted in Absence of Unexplained Source
Penalty U/s 271(1)(c) Deleted – Defective Notice Without Specifying Charge Vitiates Proceedings
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.
