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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...
Supreme Court in Laljibhai Mandalia case upholds tax search, clarifies reasons to believe and limits judicial review over the sufficiency of grounds for raids.
Chandigarh ITAT condones significant appeal delays, allows Punjab Agricultural University’s tax exemption claim under 10(23C)(iiiab) despite counsel’s filing errors.
Chandigarh ITAT allows 80P deduction for Habrol Co-op Society, ruling against disallowance due to a clerical error in tax return. Section 80A(5) not applicable.
Mumbai ITAT dismisses disallowance under Section 14A against Bajaj Capital Ventures, ruling no exempt income means no disallowance for expenses.
ITAT Delhi held that denial of exemption u/s. 11 & 12 of the Income Tax Act not justified as loans are borrowed at higher rate solely for the benefit of the society and under the circumstances which are beyond the control of the assessee-society.
Gujarat High Court sets aside assessment reopening for Kapadia Money Changers, finding the tax officer overlooked full details and acted on mere change of opinion.
Gujarat High Court sets aside notice for assessment reopening against Bharatkumar Nihalchand Shah, citing the tax officer’s lack of proper application of mind and year discrepancy.
ITAT Indore held that there is no authority to deny exemption u/s. 10(23C)(vi) for non-filing return since 20th Proviso to section 10(23C) denying exemption for non-filing return u/s. 139(4C) came to statue from AY 2023-2024 only.
Department replied on 29 November 2018, and assessee kept following up for the refund with interest. But no further response came. Revenue rejected the refund, saying the 2018 reply was not a valid order under the Act.
ITAT Ahmedabad held that issue of applicability of section 115JB to National Dairy Development Board is debatable and not a mistake apparent from record hence rectification order passed is beyond the scope of section 154 of the Income Tax Act.
