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.
TNMM vs “Other Method” & Validity of Berry Ratio under Limited Risk Model: ITAT Delhi in Verizon India Case
₹12.54 Cr Spouse Gift to Shilpa Shetty: Sec 68 Addition Set Aside, Remanded
Reopening Quashed: Non-Compliance with GKN Driveshafts Procedure Vitiates Entire Assessment
Bad Debts Allowed on Write-off, 26AS Mismatch Cannot Trigger Addition: ITAT Dismisses Revenue Appeal
Sec 154 Cannot Be Used to Deny Sec 11 Exemption on Form 10B Delay – ITAT Restores Benefit
Interest U/s 220(2) to be Recomputed After Rectification – Not From Rectification Date
Sec 68 Addition Set Aside – Documentary Evidence Accepted; Matter Remanded for Loan Repayment Verification
Recourse to residuary provision 37(1) not justified as provision u/s. 35D for amortization of preliminary expense exists
Penalty U/s 271(1)(c) Deleted Due to Defective Notice – No Specific Charge Mentioned
1040 vs 1040 NR – Understanding Which Tax Return You Need to File
Sec 54 Benefit Upheld – Investment Within Time Sufficient, Possession Delay Not Fatal
Exemption Allowed as Corpus Donations Excluded from Annual Receipts U/s. 10(23C)(iiiad)
Stamp Duty Addition Deleted – Allotment Date Prevails for Sec 56(2)(x) Valuation
Assessment Quashed Due to 9-Month Delay in Recording Satisfaction Under Section 158BD
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.
