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.
Reassessment notice u/s. 148 quashed as being barred by limitation
Reopening must be on the same reason on which addition is made- ₹1.30 Cr Addition Deleted
Reassessment order in absence of notice u/s. 143(2) is bad-in-law
Notional Foreign Exchange Gain from year-end revaluation of a loan on capital account was not taxable income
Provision for consumer loyalty program was an allowable deduction u/s 37 and no TP adjustment as profits of eligible units were at arm’s length
No addition u/s 69A for undisclosed Jewellery as family inheritance and household withdrawals were sufficient to explain sources
Penalty u/s. 271(1)(c) set aside as notice failed to specify specific charge or limb
Revenue Cannot Reopen Closed Cases on Previously Verified Share Capital
Suppliers Didn’t File Returns? Doesn’t Mean Assessee Didn’t Buy
One Commission, Two Tax Demands? ITAT Says: Verify First – No Double Taxation
A clerical mistake in Form 3CD cannot lead to addition without hearing assessee
“Kalra Ji” on Loose Papers Not Enough: ITAT Deletes ₹1.2 Cr Addition for Lack of Evidence
Jewellery Stock Surrender Taxable as Business Income, Not Unexplained Investment
No addition of ₹3.55 Cr addition u/s 68 in Accommodation Entry Dispute as there was genuineness of transaction
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.
