Income Tax
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Mechanical Section 153D Approval Without Application of Mind Invalidates Assessment: ITAT Delhi
RFCTLARR Compensation Exempt From Income Tax Except Section 46 Cases: AP HC
No Income Booking Alone Cannot Justify Business Expense Disallowance: Gujarat HC
Writ Against DVO Reference Not Maintainable at Premature Stage: Calcutta HC
Section 54 Exemption Denied Where New House Bought Solely in Wife’s Name: P&H HC
Reassessment Based on Unamended Partnership Deed & Audit Objection Quashed: Gujarat HC
ITAT Mumbai Deletes ₹72.85 Crore TP Adjustment on Intra-Group Transactions
Ad Hoc Additions Without Specific Unaccounted Expenditure Unsustainable: ITAT Mumbai
Penalty Cannot Be Imposed on Estimated Bogus Purchase Addition: ITAT Surat
Existing Section 12AB Registration Cannot Be Invalidated During Renewal: ITAT Mumbai
Technical Glitch in Form 10-IC Filing Cannot Deny Section 115BAA Benefit: ITAT Chennai
Mere Suspicion From STR Cannot Justify Section 148 Reopening: Gujarat HC
Section 143(2) Notice Objection Rejected; ₹84 Lakh Section 68 Addition Sustained: ITAT Kolkata
Developer’s Construction Cost Not JDA Consideration; Addition Deleted: ITAT Bangalore
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.
