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.
Faceless Assessment Before Sec 151A Notification Held Without Jurisdiction – Entire Assessment Quashed – ITAT Kolkata
Sec 68 Addition Deleted – JDA Advance Refunded & Loan Repayment via Bank Not Bogus – ITAT Kolkata
Non-Application of Mind and Wrong AY Render Sec 147 Reopening Void – ITAT Kolkata
Penalty U/s 271D & 271E Deleted – Partner Capital Cash Not Covered U/s 269SS/269T: ITAT Kolkata
Section 149(1)(b) Conditions Unmet: Reopening and Adhoc Profit Addition Quashed – ITAT Kolkata
Reopening Beyond 3 Years Quashed: PCIT (Not PCCIT) Approval U/s 151(ii) Invalid – Jurisdictional Defect Fatal – ITAT Kolkata
Ad-Hoc 8% Profit on Logistics Turnover Rejected; ₹19.09 Cr Addition Deleted – ITAT Mumbai
Festival Donations Allowed u/s 37(1); No 40A(ia) Disallowance Below TDS Limit; Interest Addition Upheld: ITAT Kolkata
Assessment Quashed: Sec 143(2) Notice Not in CBDT Format per 23.06.2017 Instruction – ITAT Kolkata
Section 68 Addition Deleted as Identity, Creditworthiness & Genuineness Established – ITAT Kolkata
Sec 69 Addition Deleted – NRI Property Funded by Overseas Remittances via Mother’s Bank Trail – ITAT Mumbai
Reopening Quashed: Mechanical Sec 151 Approval Invalid; Rubber-Stamp Sanction Cannot Sustain Sec 147 – ITAT Kolkata
Bogus Purchase Addition Restricted to 5% as Sales Accepted & Banking Trail Proven: ITAT Mumbai
NFAC Reassessment Void Without Sec 151A Notice – Assessment & 271(1)(c) Penalty Deleted – ITAT Kolkata
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.
