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.
Penalty U/s 270A Deleted – AO Failed to Specify Misreporting Clause
ITAT Chennai: Registration u/s 12AB & 80G Cannot Be Denied Merely Because Trust Has Not Yet Started Activities
Penalty U/s 271(1)(c) Not Sustainable on Deemed Addition U/s 56(2)(vii)(b) – ITAT Chennai
ITAT Chennai: 60% Tax U/s 115BBE Not Applicable for AY 2017-18 Transactions Prior to 01-04-2017
ITAT Chennai Quashes Reassessment – Notice U/s 148 Invalid for Want of Approval from Correct Authority U/s 15
ITAT Pune Upholds Estimation of Profit @8% When Assessee Fails to Prove Purchases & Creditors
ITAT Chennai: Ad-hoc Disallowance of Expenses Not Permissible Without Pointing Specific Defects in Books
ITAT Pune: Entire Bank Deposits Cannot Be Taxed – Income to Be Estimated @2% on Deposits in Renukamata Society Account
ITAT Chennai Deletes ₹6.5 Cr Addition u/s 68 – Assessee Not Required to Explain Source of Source of Source
ITAT Chennai: Milk Trading by Charitable Trust Does Not Automatically Attract Proviso to Sec.2(15) – Matter Remanded
ITAT Chennai Deletes Demonetisation Addition – Cash Deposits from Recorded Business Receipts Cannot Be Taxed u/s 69
Broad functionality insufficient while selecting transactions/entities for transfer pricing comparables
ITAT Chennai Reduces Estimated Profit from 8% to 6.5% of Bank Deposits in Best Judgment Assessment
Exemption u/s 11 Cannot Be Denied in u/s 143(1) Processing When Registration u/s 12AA Granted Retrospectively
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.
