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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 quashes tax notices against R.C. Jewellers, rules Section 153C proceedings require incriminating material linking seized items to assessee’s income.
CBDT specifies Indian Railway Finance Corporation Ltd.’s Ten Year Zero Coupon Bond under Income-tax Act Section 2(48), detailing features and March 2027 issue deadline.
Delhi High Court dismisses tax appeal against Wrigley India, affirming AMP expenses not separate international transaction without evidence, citing precedents.
Delhi High Court sets aside tax reassessment notice for AY 2014-15, ruling it was beyond the limitation period after considering Supreme Court directives.
Pune ITAT rules Foreign Tax Credit cannot be denied solely due to delayed filing of Form 67. Case remitted to AO for re-examination on merits.
Bombay High Court allows a company to file delayed income tax returns for AYs 2017-18 and 2018-19 due to hardship, conditional on not claiming interest on refunds.
Delhi ITAT rules against tax addition of Rs. 24 lakh for Cumin Infotech, citing lack of justification from AO for rejecting assessee’s cash deposit explanation.
Ahmedabad ITAT sends back tax case to CIT(A) after significant additions for cash deposits and unsecured loans were deleted without obtaining the Assessing Officer’s remand report.
ITAT Ahmedabad sends Nikanth Co-op Society tax case back to AO for re-examination, citing fair hearing need despite prior non-compliance.
Delhi High Court sets aside a Section 148 income tax reassessment notice for Assessment Year 2015-16, ruling it time-barred based on the Revenue’s concession in a Supreme Court case.
