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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...
Tribunal directs full TDS credit for K. Venkatesan (HUF) on Rs. 10.5 Cr agricultural land sale. Overturns CPC/CIT(A) denial, citing Section 194IA and Rule 37BA misapplication.
ITAT Jaipur remands Dhapi Devi Samiti’s 12AB exemption case, condoning 250-day delay. Rules RPT Act registration not essential for IT Act exemption.
ITAT Surat rules Section 54F exemption is permissible on a residential property purchase through a possession-based agreement, even without a registered sale deed.
ITAT Ahmedabad deletes Section 56(2)(x)(b) addition for land purchase, citing prior co-owner’s case where FMV difference was within 10% threshold.
Delhi ITAT grants BMW India a stay on tax recovery for AY 2016-17 after the company deposited 20% of the outstanding demand, noting past rulings on AMP expenses.
The Calcutta High Court upheld the ITAT’s decision, ruling that the PCIT’s revisionary powers under Section 263 were arbitrarily exercised as the AO had conducted due verification.
IIM Sirmaur secures tax exemption registration after ITAT Chandigarh rules against denial based on a technical error in application, citing judicial precedents.
Delhi ITAT quashes reassessment proceedings against Smt. Seema Swami for AY 2008-09, ruling the Assessing Officer lacked tangible material for a valid reason to believe income escaped assessment.
Madras High Court directs income tax authorities to address Vinplex India’s representation for unpaid interest on a Rs 3.71 crore refund, previously sanctioned and partially paid.
Bombay High Court quashes Income Tax Department’s search and seizure on Balkrushna Buty, citing lack of reason to believe mandated by Section 132 of IT Act.
