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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...
Delhi High Court sets aside reassessment notices for UK Grid Solutions Ltd (GE Group), citing lack of year-specific facts and reliance on old surveys.
Delhi High Court sets aside tax reassessment against GE Hydro France, ruling ‘reason to believe’ based on surveys of other group entities insufficient without year-specific material.
Gujarat High Court rules belated filing of Form 10B before processing is sufficient, overturning ITAT, allows Section 11 exemption for trust.
ITAT Cochin rules CPC cannot deny Section 11 exemption for delayed Form 10B filing under Section 143(1)(a), remands case for re-evaluation.
India’s Supreme Court ruled that loans from private companies to shareholders can be taxed as deemed dividends under the 1922 Income-tax Act, upholding anti-evasion laws.
High Court directs the Income Tax Department to refund Rs 63.9 lakh recovered from a Co-operative Society after its appeal against a tax demand succeeded. Order includes interest.
India’s Finance Act 2025 clarifies Significant Economic Presence (SEP) rules, excluding mere purchase of goods in India for export from tax liability.
ITAT Pune held that in respect of unabated assessment, no addition can be made by AO in absence of any incriminating material found during the course of search under section 132 of the Income Tax Act. Accordingly, order set aside and appeal allowed.
ITAT Kolkata held that the reopening of assessment cannot be allowed on the basis of vague reasons, where AO has not done anything as there was gross non-application of mind by the Assessing Officer. Accordingly, reopening of assessment u/s. 147 is quashed.
Bombay High Court held that notice issued under section 148 of the Income Tax Act beyond the time period specified under section 149(1) of the Income Tax Act is non-complaint and invalid. Accordingly, order passed thereon is liable to be quashed.
