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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 Pune rules Section 234E late fees for TDS statements are applicable only from June 1, 2015, quashing demands for earlier periods due to lack of enabling provisions.
Kerala High Court rules Section 234E late fees for TDS statement filing are prospective from June 1, 2015, quashing demands for 2012-15 due to lack of authority.
ITAT Kolkata quashes assessment where AO expanded limited scrutiny beyond “cash deposit during demonetization” without proper procedure, citing CBDT instructions and High Court precedents.
Calcutta High Court dismisses revenue’s appeal in PCIT vs. Hirak Vyapaar Pvt. Ltd., affirming deletion of Section 68 addition after thorough factual review by ITAT.
Calcutta High Court dismisses revenue’s appeal in PCIT vs. Sitka Mercantile, affirming ITAT’s deletion of Section 68 addition. Court finds no substantial question of law in factual findings.
Calcutta High Court dismisses revenue’s appeal against ITAT order for AY 2012-13 in PCIT vs. Maninya Comfin Pvt. Ltd., finding no substantial question of law.
ITAT Kolkata ruled for Weilburger Coatings, quashing an assessment order as the AO exceeded limited scrutiny scope without following CBDT conversion procedures.
ITAT Visakhapatnam ruled on whether an Assessing Officer can inquire beyond limited scrutiny, partly allowing an appeal regarding cash deposits during demonetisation.
ITAT Patna ruled the Assessing Officer exceeded limited scrutiny scope by making additions unrelated to large cash deposits without converting to complete scrutiny.
Understand cryptocurrency taxation in India, including the 30% VDA tax, 1% TDS, and acquisition methods, as per evolving government regulations.
