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.
ITAT Bangalore: Mere Long Outstanding Sundry Creditors Not Taxable u/s 41(1) – No Cessation of Liability Without Write-Back
ITAT Bangalore: Souhadra Co-operative Eligible for U/s 80P Deduction – Delay Condoned & Additions on Interest Provision Deleted
Belated Return – u/s 80P Deduction Validly Denied u/s 143(1): ITAT Bangalore Dismisses Co-operative Society’s Appeal but Advises u/s 119(2)(b) Remedy
ITAT Bangalore : CIT(A) Has No Power to Set Aside & Remand Assessment (Non-144 Cases) – Matter Restored to CIT(A) for Decision on Merits
ITAT Bangalore : Demonetisation Cash Deposits Cannot be Added u/s 68 When Supported by Books – GP Addition Deleted Without Defects in Accounts
Section 68 addition remanded — Identity proved shifts onus to AO; Failure to invoke Section 133(6) grant opportunity held improper
Wrong Approval u/s 151(ii) Vitiates Reassessment: ITAT Bangalore Quashes 147 Order & Entire Proceedings (AY 2016-17)
Budget 2026: Proposed changes to TDS and TCS provisions
ITAT Bangalore allows appeal — Delay of 298 days condoned; Gratuity & Commuted Pension held exempt u/s 10(10) & 10(10A); 115BBE & 69A additions deleted
Section 292BA (Proposed): Retrospective DIN Cure from 01.10.2019 – Finance Bill 2026 & Litigation Impact
ITAT Mumbai Deleted Section 69A Addition as Based Solely on Third-Party Statement
Direct Tax Collections for F.Y. 2025-26 (as on 10.02.2026)
ITAT Bangalore Quashed Reassessment for Sanction by wrong authority After 3-Year Limit
Reassessment Quashed as Section 148 Notice Issued After Six-Year Limitation
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.
