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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...
Patna ITAT remands penalty case of Narayani Educational Health and Charitable Trust, allowing re-examination of Section 271(1)(b) levy due to lack of evidence submission.
ITAT Mumbai confirms Rs. 12 lakh unexplained cash addition for assessee with multiple PANs, citing insufficient evidence for deposit sources.
Delhi High Court held that payment of cross-cost charges doesn’t construed as royalties within scope of Article 12(3) of the India-US DTAA hence order rejecting application for NIL withholding tax set aside. AO directed to issue necessary certificate.
Madras High Court rules AOs can allow less than 20% tax pre-deposit for appeals, citing Supreme Court precedent against rigid CBDT circulars.
Madhya Pradesh High Court upholds ITAT’s refusal to condone C.I. Builders’ 7-year appeal delay, citing assessee’s gross negligence despite blame on counsel.
Rajasthan High Court reverses Settlement Commission’s dismissal for missing records, stating assessee not involved in reconstruction. Case remanded for fresh consideration.
ITAT Chandigarh held that every error is not required to be corrected under Section 263 of the Income Tax Act. Revisionary proceedings u/s. 263 quashed as plausible view taken by the Assessing Officer.
Mumbai ITAT rules that notional rent on unsold flats held as stock-in-trade is taxable as ‘Income from House Property’ for periods even prior to AY 2018-19, affirming previous Delhi High Court judgments.
Income Tax Notification 61/2025 grants tax exemption to Puducherry Planning Authority from AY 2024-25 under Section 10(46A) of Income-tax Act, 1961.
ITAT Rajkot condones 872-day delay in appeal due to CA’s death and jurisdictional confusion, remanding the income tax assessment case for fresh adjudication.
