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.
Section 54F Deduction Allowed – Commercial Property Not a Residential House: ITAT Chennai
Additions Based on Loose Sheets Deleted – “Dumb Documents” Insufficient for 153A: ITAT Delhi
Penalty u/s 270A Deleted – Immunity u/s 270AA Allowed Despite Procedural Lapse: ITAT Chennai
ITAT Kolkata – Penalty u/s 271(1)(b) Deleted; Assessment u/s 143(3) Implies Condonation
Carry Forward Loss Cannot Be Denied After Treating Return as Valid: ITAT Delhi
Annual Software License Expenses Held Revenue in Nature – No Enduring Benefit: ITAT Mumbai
Reassessment Quashed – Wrong Sanction u/s 151 After 3 Years: ITAT Mumbai
Flat Purchase Addition Deleted – Creditor Loan Proved; Wife’s Contribution Not Taxable: ITAT Mumbai
Reassessment Quashed – Escaped Income Below ₹50 Lakh; Wrong Sanction Authority: ITAT Mumbai
Disallowance u/s. 14A limited to extent of investment which yielded exempt income
Section 69 Addition on Alleged Cash in Property Deal Deleted – Third-Party Evidence Without Cross-Examination Insufficient
Applying for 12A & 80G Renewal? One Small Mistake in Your Accounts Can Cost You Registration
ITAT Kolkata – Section 263 Revision on Deemed Dividend Quashed; Loan Not Taxable in Company’s Hands
Section 194J TDS Does Not Automatically Attract Section 44ADA – A Practical Perspective
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.
