The assessing authority made a large addition without explaining its nature or legal basis. The Tribunal ruled...
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 observed that the transfer pricing adjustment was based on unexplained margin calculations. A fresh working...
Taxpayers are facing revival of decades-old demands without prior notice or service of orders. The key takeaway...
The Tribunal held that reopening completed scrutiny assessments beyond four years is invalid when reasons do not...
The Tribunal held that reassessment notices issued by the jurisdictional officer violated the mandatory faceless regime under...
The Court found that the explanation regarding dividend income was on record but not examined. Reopening based...
High Court quashed the adjustment made in the intimation under Section 143(1) disallowing deduction under Section 10B...
It was held that sale consideration from trust property, when donated to charitable institutions, cannot be taxed...
The issue was whether bank credits already offered as income in an HUF’s return could again be...
Additions were made solely because the trust failed to submit details during assessment and appeal. ITAT set...