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.
Ad-Hoc percentage basis Addition on Sundry Creditors Is Illegal – 41(1) Can’t Run on Presumptions
Controlled Cant Benchmark Controlled – Pro-Rata Commission TP Struck Down
WhatsApp Chats ≠ Unexplained Money – U/s 69A & 115BBE Crumble Without Cash or Ownership
Section 153C Valid, Bogus Purchases Fully Taxable Section 153D Approval Upheld – Assessee Loses on All Fronts
For Non-Searched Persons, Clock Starts on Receipt of Books – Revenue’s U/s 153C Theory Rejected
Cherry-Picked Comparables Rejected Assessees Set Ignored – TP Matter Sent Back for Fresh Benchmarking
Opening Balance Can’t Be Taxed Again & Corpus Fails Only Where Proof Fails – Revenue Routed
Demonetisation Cash Sales Upheld Again – Chawla Jewellers Gets a Clean Chit
Recording of satisfaction note before initiation of proceedings u/s. 153C is invalid satisfaction
Omnibus Section 153D Approval = Fatal Jurisdictional Defect – Entire Group Assessments Quashed
Can a Subsidiary Company create a PE of Foreign Holding Company in India?
Low NP Isn’t “Reason to Believe” – Reopening Quashed & Estimation Dies with It
Section 154 Can’t Be Used to Rework 36(1)(viia)(c) vs 36(1)(viii) – Revenue’s Rectification Knocked Out
Budget 2026 Breaks Tradition With First-Ever Sunday Presentation
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.
