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.
Audit Alone Not Enough for Section 11 Claim – ITAT Restores Matter for Evidence Verification
CM-Based Addition Deleted – No Evidence Beyond Investigation Wing Information
Section 263 Quashed in Search Case – PCIT Cannot Revise Without Touching U/s 153D Approval
Reassessment Time-Barred Despite TOLA SC Relaxation – Notice Held Void
Reopening Quashed for Non-Supply of Reasons – Entire Assessment Held Void
Penalty U/s 271(1)(b) Deleted – Non-compliance Excused Due to Reasonable Cause (Ignorance & Cash-based Livelihood
Cash Seizure Case: HC Cuts Addition to Actual Seized Amount, Rejects Inflated Estimate
Section 56(2)(viib) Not Applicable to Old Share Application Money – Addition Deleted
Delay Cannot Defeat Justice – Ex-Parte Addition u/s 69 Set Aside for Fresh Examination
Demonetised Cash from Members Not Unexplained: ITAT Upholds Deletion under Section 68
CIT(A) Cannot Dismiss Appeal for Non-Prosecution – Must Decide Reopening Validity on Merits
Reopening Cannot Be Quashed Using New Law Retrospectively – Matter Remanded to CIT(A)
Revised ITR u/s 139(5) was allowed only for errors in the original return
Only TDS Component Taxable When Assessee Acts as Facilitator; Section 57 Disallowance Partly Deleted
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.
