Learn which ITR form is right for you. This guide breaks down common ITR forms (1-7) based on income sources for individuals, businesses, and other entities.
The ITAT Lucknow bench deleted an addition made under Section 69A, ruling that a cash deposit from the assessee’s wife’s withdrawals was a sufficiently explained source.
SC ruled that entities for general public utility can claim income tax exemptions, provided any incidental business or trade receipts do not exceed 20% of their total receipts.
Learn about Minimum Alternate Tax (MAT) for Indian companies, including its purpose, calculation under Section 115JB, and the process for filing it.
The Delhi High Court upheld that exemptions under Sections 54 and 54F are applicable even if a reconstructed property contains multiple independent residential units.
The ITAT ruled that an assessment initiated before an assessee’s death is not void. It remanded the case, directing the AO to re-do the assessment in the legal heir’s name.
ITAT Chennai ruled that gold wastage during ornament manufacturing isn’t considered a payment for making charges, so TDS under Section 194C is not applicable.
The NCLAT dismissed an appeal, affirming that writing off a bad debt is a commercial decision by a company’s board that does not warrant judicial intervention.
Learn how to effectively prepare for a GST departmental audit. This guide covers key reconciliations, required documents, and strategies for managing tax demands.
ITAT Mumbai ruled that an assessee who temporarily holds cash is not its owner, leading to the deletion of Section 69A additions for unexplained money.
