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.
Sec 149(1)(b): Reopening Beyond 3 Years Only if Escaped Income amount to ₹50 lakh or more
Direct Tax Collections Rise 7.19% Due to Lower Refunds Impact
Sec 263 Invalid Where PCIT Didn’t Challenge Sec 153D Approval in 153C Case
On-Money Addition Deleted; Third Party Excel Statement Not Enough Without Proof
Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT
Section 68 Addition Deleted as AO Relied Only on Suspicion & Third-Party Material
No Irrevocability Clause Required for Sec 12AB Registration – Bombay HC Quashes Rejection of Trust Registration
PAN Misuse Allegation – ITAT Remands Matter to Verify Police Report; Relief Possible if Misuse Proven
Still Paying 30% Tax on Cryptocurrency Trading Without Claiming Loss Benefit? Read This Before Filing Your ITR
Foreign Tax Credit (FTC) Allowed Despite Delay in Filing Form No. 67
No digital/physical signatures of approving authority – Section 148 notice quashed
Sec 68 Addition Upheld – Failure to Prove Identity, Creditworthiness & Genuineness of Loans
Sec 80P(2)(d) Allowed on Interest from Co-op Bank – ITAT Follows Settled View
Form 10B Delay Condoned – Exemption U/s 11 Cannot Be Denied for Procedural Lapse
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.
