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.
No Sec 153A Addition Without Incriminating Material; Penny Stock LTCG Deleted: ITAT Mumbai
Search Assessment – Suppressed Sales Deleted, Sec 37(1) Expenses Allowed & CWIP Write-Off Treated as Revenue – 143(3) Order Quashed – ITAT Mumbai
Exemption U/s 11 Allowed Despite Belated Form 10B: Procedural Defect Curable; CPC Adjustment Invalid – ITAT Kolkata
Section 154 Rectification Cannot Challenge Original Addition: ITAT Mumbai
Section 153A Addition Without Incriminating Material Deleted; Net Interest Only Taxable; U/s 69A/69C Rejected – ITAT Mumbai
Sec 68 Share Capital Addition Deleted; Round-Tripping Allegation Without Evidence Rejected: ITAT Mumbai
Sec 68 Addition on Share Capital & Premium Deleted: No AO Enquiry; High Premium Not Enough – ITAT Kolkata
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
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.
