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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 Ahmedabad held that addition towards accommodation entries of bogus LTCG cannot be sustained in absence of any iota of tangible perceptible evidence. Accordingly, appeal allowed and addition set aside.
ITAT Jabalpur restores Nagar Panchayat’s reassessment case, directing AO to verify exemption claim under Section 10(20) for cash deposits from statutory functions.
Understand advance tax liability and payment due dates in India. Learn who needs to pay, installment percentages, special provisions for certain incomes, and consequences of non-payment as per the Income Tax Act, 1961 and Income Tax Bill 2025.
Trust has adopted the mercantile system of accounting for the AY 2011-12 for which depreciation of ₹ 8.55 lakhs is to be accepted which the authorities have not accepted, same ought to have been allowed as depreciation being notional expenditure.
Interest income derived by co-operative society from its investments with a co-operative bank eligible for deduction under section 80P(2)(d).
ITAT Mumbai allows Jet Privilege depreciation on goodwill from slump sale, remands for recalculation. Cites Smifs Securities precedent.
Rajasthan High Court dismisses Revenue’s appeal, affirming ITAT’s decision to grant Section 12AA registration to Gettwell Health, citing deemed approval and flawed objections.
Bangalore ITAT rules AO exceeded jurisdiction by reclassifying online education income as FTS after a limited remand, deleting the tax demand.
Jaipur ITAT directs CIT(E) to grant 12AB registration to APJ Abdul Kalam Education and Welfare Trust, finding objections on FCRA, RPT Act, and activities invalid.
ITAT Delhi rules against reassessment, citing vague reasons and lack of nexus between Kavya Satija and alleged entry operators.
