The issue was estimation of commission income from alleged accommodation entries. The tribunal held that addition should...
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.
The Tribunal noted that statements relied upon were later retracted and lacked corroboration. It held that such...
Reassessment Quashed for Lack of Jurisdiction – AO Became Functus Officio After Section 127 Transfer
Reassessment Quashed for Lack of Jurisdiction – AO Became Functus Officio After Section 127 Transfer
The issue was whether reassessment initiated by a non-jurisdictional AO is valid. The tribunal held that proceedings...
The Tribunal noted that loans were part of regular business transactions with repayments in the same year....
The issue was whether entire purchases can be disallowed as bogus under Section 69C. The tribunal held...
Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical disallowances, and...
The case examined whether reassessment approval beyond three years was issued by the competent authority. The court...
The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds...
The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond...
The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows...