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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...
Mumbai ITAT declares hardship compensation received by flat owners during re-development as a non-taxable capital receipt, citing judicial consistency.
Gujarat High Court quashes faceless assessment order for Maa Padmavati Exports, citing tax unit’s disregard for earlier order on cross-examination.
Income Tax Notification 63/2025 grants tax exemption to Yamuna Expressway Industrial Development Authority from AY 2024-25 under Section 10(46A).
CBDT notifies Dental Council of India for tax exemption under Section 10(46A) of Income-tax Act, effective from AY 2024–25, subject to specified conditions.
ITAT Bangalore rules that 80G approval hinges on genuine charitable activities, not solely on fee surpluses or accumulated funds. The ruling clarifies the scope of CIT(E)’s inquiry for 80G applications.
Gujarat High Court rules tax recovery notices invalid for V.S. Texmills after NCLT approved resolution plan, reinforcing IBC’s binding effect on pre-existing claims.
ITAT Ahmedabad reverses Aatman Foundation’s 80G approval rejection, citing inadvertent form error and judicial precedents, remanding the case for fresh consideration.
ITAT Ahmedabad reversed the 80G approval rejection for Senior Citizen Council Gandhinagar, remanding the case due to a bona fide error in selecting the application clause.
Mumbai ITAT rules STT-paid short-term capital loss can be set off against non-STT short-term capital gains, allowing beneficial set-off for taxpayers.
Chennai ITAT grants 80G approval to Matha Medical Centre Trust, affirming that providing affordable medical services in rural areas is a charitable activity, not commercial.
