Income Tax
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ITAT Quashes Reassessment After 3 Years for Invalid Sanction
ITAT Restores Appeal Against NFAC’s “No Appeal Lies” View on 143(3)
Section 271(1)(c) Penalty Appeal Requires Fresh Hearing After NFAC Order
ITAT Faults CIT(A) for Ignoring Proof Against 69A ‘Unaccounted Sales’ Charge
Tribunal Deletes ₹10.84 Cr Addition: Proper Sale Proceeds Ignored, Verified Loans Misread
TP Adjustment Partly Set Aside: Incorrect Filters, Wrong Comparables & Netting-Off Reassessed
Assessment Order Set Aside; Procedural Lapse on DRP Intimation Held Curable
ITAT Deletes ₹2.5 Cr Addition After Verifying Loan Trail; Penalty u/s 271(1)(c) Reconsidered
PF/ESI Paid After Statutory Due Date Not Deductible, Sectiom 143(1)(a) Adjustment Sustained
Product-Owning Companies Excluded from TP Analysis: Tribunal Refines Comparable Selection
Section 271(1)(c) Penalty Unsustainable for Genuine Accounting Entries
Matter Remanded – Reason: CIT(A) Abdicated Jurisdiction by Merely Endorsing DVO’s Report
No Downward Adjustment Under 80IA Because CPP Transfer Valued Using SEB Consumer Tariff
Failure to Consider Evidence Cannot Deny Section 54F/54EC Benefits: ITAT Mumbai
Latest Income Tax News
Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.
Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.
Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.
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Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.
