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Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...
Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
ITAT Cochin condoned a 338-day delay in an income tax appeal by an educational institution, attributing it to the death of their auditor, restoring the matter for merit review.
Understand Section 194I for TDS on rent, including applicable rates, thresholds, and clarifications for various rent types. Stay informed on recent updates.
Bombay High Court rules that interest subsidies received by banks from the RBI under the Export Credit Scheme are not taxable as ‘interest’ under Section 4 of the Interest Tax Act, 1974.
Delhi High Court sets aside reassessment proceedings and demand notice issued in the name of a deceased assessee, emphasizing invalidity of notices.
Delhi ITAT deletes ₹24 lakh unexplained expenditure addition on Hitesh Rohilla, citing lack of direct evidence linking alleged capitation fee payment to the assessee.
Kolkata ITAT rules corporate guarantee is international transaction but limits transfer pricing adjustment to 0.5% for Tega Industries, citing judicial precedent.
Delhi ITAT rules against Section 271(1)(b) penalty for non-compliance when the assessment is ultimately completed under Section 143(3) without additions.
The ITAT Ahmedabad restored Bhatt Mewada Brahm Samaj’s 80G application, deeming the rejection premature due to lack of opportunity for submission, highlighting a violation of natural justice.
ITAT Surat deleted a Section 271(1)(c) penalty against Gunjan Agarwal, ruling that an addition based on estimated income does not automatically imply concealment or furnishing inaccurate particulars.
The Madras High Court has directed tax authorities to consider a fresh representation from M.Sundarapandian regarding a pending income tax refund of Rs. 74,483 for AY 2016-17 within six weeks.
