Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

Income Tax Payers Receive Demand Intimation Orders Despite Utility Tool Permitting S.87A Rebate on Special Rate Incomes: X Users React

A number of taxpayers have taken to X (formerly Twitter) to express frustration over receiving Income Tax intimation orders for demands from the...

Income Tax Department Conducts Search at Registered and Branch Offices of Prestige Group

Massive Incorrect TDS Filings Crackdown: Income Tax Dept to Audit 40,000 Taxpayers

No Violation of Fundamental or Statutory Rights: Delhi HC Rejects Husband’s Request to Inquest ₹2...

ITAT Rejects DVO Valuations, Ensures Equal Treatment Among Co-owners [Read Order]

ITAT Bangalore Rules in Favor of Assessee, allows Deductions under Section 80JJAA and Additional Depreciation [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Bangalore Bench ruled in favor of the assessee, allowing deductions under Section 80JJAA of the Income Tax Act, 1961, and additional depreciation under...

ITAT Deletes Addition of Rs 40 Lakhs, Holds Assessee's Explanation on Cash Deposits as Sufficient [Read Order]

In a major relief to the assessee, the Income Tax Appellate Tribunal (ITAT) Chennai Bench has deleted an addition of Rs. 40 lakhs made under Section 69A of the Income Tax Act, 1961, holding that the...

Shareholder's Account to be Taxed under Life Insurance Business Provisions: ITAT in Kotak Mahindra Life Insurance case [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) in the Kotak Mahindra Insurance case held that theshareholder's account is to be taxed under life insurance business provisions. The...

ITAT Remands matter for Fresh Assessment Over Delay in Filing Audit Report u/s Form 10BB [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case back to the Assessing Officer (AO) for a fresh assessment concerning the delay in filing an audit report under Form...

ITAT Deletes Rs. 1 Crore Addition u/s 69A, Holds Bad Debt Recovery as Business Income [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 1 crore made under Section 69A of the Income Tax Act, 1961, as the bench reached the conclusion that bad debt...

Bombay HC Quashes Income Tax Reassessment Order Against Oxford University Press Merely of Future Expected Change in Tax Rate [Read Order]

In a recent case on Oxford University Press, the Bombay High Court has ruled that unless the "jurisdictional parameters" of Section 148 of the Income Tax Act, 1961 are met, the mere fact that the tax...

ITAT Bangalore Upholds Penalty for Misreporting of Income Due to Double Deduction Claim [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Bangalore has upheld the penalty imposed under Section 270A of the Income Tax Act, 1961, ruling that the assessee misreported income by claiming both...

Prev Page Next Page