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.
Manual Signing in E-Proceedings Violates CBDT Instruction 1/2018 – Reassessment U/s 147/143(3) Quashed, ITAT Delhi
Delay in Form 67 Not Fatal – Foreign Tax Credit to be Allowed: ITAT Mumbai
Alleged Cash On-Money Addition Deleted – Third-Party Pen Drive & Statements Without Cross-Examination or Direct Evidence Insufficient – ITAT Mumbai
Faceless Assessment under Income Tax Act: Transparency or Trouble?
Section 54 Exemption Allowed – Possession Date of Under-Construction Flat Relevant, Not Agreement Date – ITAT Mumbai
Concept of Income under the Income Tax Act 1961
Sec 68 Addition Deleted – Third-Party Statement on Alleged Entry Provider Insufficient Without Independent Evidence – ITAT Mumbai
Reopening Invalid – No Addition on Recorded Reasons; MAT U/s 115JB Quashed per Jet Airways – ITAT Mumbai
Referral Fee Reimbursement Not FTS – Following Earlier Years Orders, Additions Deleted – Revenue Appeal Dismissed – ITAT Mumbai
Penalty U/s 271(1)(c) Deleted – MAT Liability U/s 115JB Higher Than Normal Tax – No Tax Sought to be Evaded – ITAT Mumbai
Sec 153C Cash Addition Deleted – Pen Drive & Third-Party Statements Without Cross-Examination Insufficient – ITAT Mumbai
Reopening Quashed for Invalid Section U/s 151 – Approval by Wrong Authority Beyond 3 Years Held Void – ITAT Mumbai
Reopening Quashed: Mechanical Sec 151 Approval Invalid; “Yes, I am Satisfied” Insufficient: ITAT Kolkata
Bona Fide Claim by Charitable Trust Not Misreporting, 200% Penalty Unsustainable: ITAT Mumbai
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.
