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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...
The ITAT Surat deleted a Section 271-I penalty against Gopal Chandak for non-filing of Form 15CA on non-taxable remittances, citing that rules were notified late.
ITAT Pune quashes Section 271(1)(c) penalty on Intervalve Poonawalla for leave encashment disallowance, citing full disclosure and judicial precedents.
The ITAT Delhi partially allowed the Revenue’s appeal against Rai Bahadur Narain Singh Sugar Mills Ltd, making a lump-sum addition of ₹5 lakh for unexplained cash deposits during demonetization.
The ITAT Delhi has directed the NFAC to apply the peak credit theory and allow set-off against agricultural income for unexplained cash deposits in the reassessment of Shakti Singh.
Ahmedabad ITAT remands Naimishbhai Kantibhai Patel’s reassessment case for a fresh opportunity, citing non-compliance and imposing a Rs. 5,000 cost.
Delhi High Court orders Income Tax Department to grant full TDS credit to an NRI seller despite the buyer’s error in filing Form 26QB instead of Form 27Q.
Madras High Court dismisses Revenue’s appeal, ruling that a delay in filing Form 56F cannot deny Income Tax deduction under Section 10AA if the claim was made in the original return.
Understand NRO account repatriation rules, including the USD 1 million limit for funds, current income remittance, and situations requiring RBI approval.
Delhi High Court sets aside reassessment notice against Well Trans Logistics, citing lack of independent application of mind by AO and reliance on borrowed information.
Mumbai ITAT dismisses PCIT’s Section 263 order against Kisan Agro Mart, ruling a presumed 3% commission on accommodation entries was based on surmises, lacking evidence.
