Income Tax
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Reassessment Quashed for Invalid Approval Beyond 4 Years from PCIT
Continuous Liability Keeps Society Maintenance Dues Within Limitation: Bombay HC
Karnataka HC Disposes Writ on AI-Driven ITAT Order After Case Transferred to New Bench
Penalty Time-Barred When AO’s Satisfaction Recorded Before Notice: ITAT Chennai
Reassessment invalid as based on ‘reasons to suspect’ rather than ‘reason to believe’
Writ not entertained as alternative efficacious remedy against final assessment order available
License fee paid for use of goodwill is allowable as business expense
Rectification u/s 154 on Dropped Reopening Held Invalid – ITAT Delhi Quashes ₹3.56 Cr Addition
Processing Fee is Interest, Not FTS – ITAT Delhi Follows Earlier Year decision
Software Cost Cross-Charge Not FIS/Royalty – ITAT Delhi Follows Earlier Year in SNC Lavalin Case
Cash Deposit Addition Scaled Down to 5% – ITAT Delhi Upholds CIT(A)’s Estimate
PCIT’s Revision u/s 263 Quashed – ITAT Mumbai Rules AO’s Enquiry Was Adequate
Penny Stock LTCG Held Genuine – ITAT Mumbai Deletes ₹85.05 Lakh Addition
PCIT’s 263 Revision Struck Down – ITAT Ahmedabad Quashes Order for Lack of Enquiry Finding
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.
