Income Tax
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No 69A Addition When Deposits Linked to Earlier Withdrawals – Idle Cash Argument Not Enough
Invalid Approval Sinks Reassessment -Wrong Authority, Wrong Notice: ITAT Deletes Additions
Time-Barred Assessment under Section 153C: Judicial Precedents
Bombay HC: No Disclosure Failure, No Reopening After 4 Years
Ex Parte Dismissal Set Aside -Section 50C Addition of ₹27.80 Cr in JDA Dispute Remanded for Re-Examination
No Incriminating Material, No Addition – ITAT Bangalore Deletes Suppression Additions
Re-assessment u/s. 148 quashed as sanction provisions u/s. 151(ii) violated
Unsecured loan addition u/s. 68 not sustained as identity, creditworthiness and genuineness proved
Sundry Creditors Cannot Be Treated as Unexplained Cash Credits u/s 68: ITAT Delhi
Deduction u/s. 80IB and 80HHC is allowable simultaneously: ITAT Lucknow
Consolidated Satisfaction Note under Section 153C Held Invalid
Interest Income from District Co-operative Bank Qualifies for Section 80P Deduction: ITAT Cochin
ITAT Deletes Addition on Sale of Shops & Interest on Conversion Charges
Reopening Based on Vague Reasons: Accommodation Entry Addition Deleted & reopening quashed
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.
