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.
Online Gaming Winnings Addition Remanded – Fresh Examination Directed: ITAT Chennai
Excess stock addition restricted – Survey working flawed; only disclosed difference taxable – ITAT Bangalore
Reassessment Quashed – Invalid Sanction u/s 151(ii) by PCIT After 3 Years: ITAT Chennai
U/s 12AB registration cannot be denied on apprehensions – Matter restored; U/s 80G rejection also set aside – ITAT Mumbai
Cash Found During Survey Explained – Gifts & Receipts Accepted; Additions Deleted: ITAT Bangalore
U/s 80P(2)(d) deduction on interest restored to AO – Delay overlooked in interest of justice; verification directed as per SC ruling – ITAT Mumbai
Reopening invalid – Failure to supply material u/s 148A(b) violates natural justice; assessment quashed – ITAT Mumbai
Addition U/s 69 for alleged on-money deleted – No corroborative evidence denial of cross-examination violates natural justice – ITAT Mumbai
Reassessment notice u/s 148 quashed – Income below ₹50 lakh wrong sanctioning authority – ITAT Mumbai
Section 153C Addition U/s 69 Deleted – Third Party Statement Loose Paper Held Insufficient
Deduction U/s 54F Allowed – Deposit in CGAS Not Mandatory if Investment Made Within Extended Time
WhatsApp Chats Alone Cannot Prove ₹23 Cr On-Money; Refurbishment Proposal Accepted & Addition U/s 69 Deleted
Commission Allegation Based on Dumb Excel Sheet Rejected by ITAT Delhi
Penny Stock Addition u/s 68 Set Aside; Reopening Held Invalid for lack of Mind Application
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.
