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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 : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
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 : 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 : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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 Tribunal held that additions cannot be made merely on survey statements without rejecting books of account or providing proper opportunity. It deleted the addition for alleged underreported profit, emphasizing adherence to due process.
REC Limited Vs ACIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, adjudicated cross appeals filed by the assessee and the Revenue for Assessment Years (AYs) 2018–19 and 2019–20, along with Revenue appeals for AYs 2020–21 and 2021–22. Since the issues were common across years, the Tribunal disposed of all appeals through a consolidated […]
The Court condoned a 179-day delay and admitted the appeal on questions involving Section 263. It will examine whether the Tribunal erred in quashing revisionary action.
The Tribunal held that a minor delay in filing Form 10-IC should not deny concessional tax benefits. It emphasized that substantive compliance prevails over procedural defects.
The Tribunal condoned delay after finding reasonable cause and examined the merits of the case. It held that no capital gains arise where purchase and sale consideration are identical.
The Tribunal held that no double deduction was claimed as the provision was already added back in computation. The addition was deleted for being based on incorrect facts.
The Tribunal found that additions were made without considering joint ownership and without referring valuation to the DVO. The matter was sent back for fresh adjudication with proper verification.
The Tribunal held that rejecting the appeal solely due to delay without examining merits was not justified. It condoned the delay and remanded the matter for fresh adjudication.
The Court held that a summary in Form DRC-01 cannot substitute a proper show cause notice under Section 73. Proceedings initiated without a valid SCN were set aside as contrary to law.
The Tribunal found that both the AO and CIT(A) failed to properly verify evidence relating to alleged accommodation entries. The matter was remanded for fresh examination and a reasoned decision.
