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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 Jaipur held that addition under section 68 towards cash deposit in bank as unexplained cannot be sustained since source of cash deposited duly explained. Accordingly, addition of around Rs. 8.60 Crores deleted.
Delhi High Court held that IT/ITeS would fall within the definition of ‘Industrial Building’ as envisaged under Bye-law 9(e) of DMC Property Tax bye-law 2004 and therefore, demand of property tax rightly set aside.
Madras High Court held that block assessment order passed u/s. 143(3) r.w.s. 158BC of the Income Tax Act has been passed within the period prescribed u/s. 158BE(1)(b) of the Income Tax Act and hence not barred by limitation.
ITAT Raipur held that assessment framed under section 144 of the Income Tax Act by Additional CIT in absence of order under section 127 and order under section 120(4)(b) is invalid as without having valid assumption of jurisdiction.
ITAT Hyderabad directs AO to reassess Satyam Computer Services [Now, Tech Mahindra Limited] for the Assessment Year 2003-2004 to 2008-2009 in light of the judgement of Hon’ble High Court for the State of Telangana at Hyderabad.
Notification grants income tax exemption to the Karnataka Electricity Regulatory Commission (KERC) from assessment year 2025-26 under the Income-tax Act.
Learn about the Himachal Pradesh Board of School Education’s income tax exemption on specific receipts, effective retrospectively from financial year 2019-2020.
Income tax exemption granted to ‘Treasurer Charitable Endowments, Haryana’ for specific income from 2014-15, with conditions.
CBDT notifies tax exemption for HRERA Gurugram on grants, fees, and interest income for FY 2018–19 to 2022–23, subject to specified conditions.
Compare tax benefits for manufacturing businesses: proprietorship vs. company structures for Tax Year 2025-26. Analyze scenarios based on turnover and net profit to determine the optimal choice for tax savings and compliance.
