The issue was whether revision could be invoked during a pending appeal. ITAT held that PCIT lacks...
Income Tax
Income tax in India is a direct tax imposed on individuals, businesses, and other entities based on their income. Understanding income tax is essential for proper financial planning and compliance with government regulations. This section provides comprehensive resources covering income tax slabs, ITR filing, deductions, exemptions, and the latest updates for FY 2025–26.
Whether you are a salaried employee, freelancer, or business owner, you can explore detailed guides below to learn how to calculate your tax, file returns, and maximize eligible deductions. Stay informed with the latest income tax rules, deadlines, and expert insights to manage your taxes efficiently.
ITAT Chandigarh Strikes Down Section 147 Proceedings Based on Uncorroborated Third-Party Excel Sheet
ITAT Chandigarh Strikes Down Section 147 Proceedings Based on Uncorroborated Third-Party Excel Sheet
The issue was whether reassessment initiated by the Jurisdictional AO was valid. The Tribunal held the notice...
ITAT held that share capital additions cannot rest on an inspector’s report not shared with the assessee....
ITAT held that Section 68 cannot be invoked where donors are identified with names, PAN, ITRs, and...
Section 194T introduces a flat 10% TDS on partner remuneration and interest, sharply reducing monthly liquidity for...
The Tribunal ruled that additions based only on presumptions and low income of subscribers are invalid. Proper...
The Tribunal ruled that payments made directly to truck drivers, and not transporters, fall outside Section 40A(3)...
The Tribunal held that a Section 54 exemption can be claimed in a reassessment return if it...
The case examined additions made in Section 153C assessments based on third-party search material. The Tribunal ruled...
The issue was whether reassessment is valid when reasons for reopening are not placed on record. The...