The Tribunal ruled that VAT collected but not credited to the profit and loss account cannot be...
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 issue was whether reassessment remains valid when no Section 143(2) notice is issued after a return...
The Tribunal held that when the Assessing Officer disagrees with FMV supported by a registered valuer, a...
The core issue was whether lack of knowledge of proceedings justified late appeals. The Tribunal held that...
The Court ruled that omission to issue Section 143(2) vitiates reassessment at the root. Such a defect...
The Court held that Section 197 applications cannot be rejected mechanically to “protect revenue.” Mandatory factors under...
The High Court held that long-held, undeveloped land sold by the assessee gave rise to capital gains....
The Supreme Court upheld rejection of treaty benefits where transactions were prima facie designed to avoid tax....
The dispute concerned late filing of an audit report triggering penalty under section 271B. The Tribunal accepted...
While an error in computation was acknowledged, prejudice to Revenue was not established. The Tribunal quashed the...