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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 : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
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 : 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 : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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...
High Court held that adjusting the entire refund during operation of a Tribunal stay order contravened the order and required refund of the excess amount.
The Income Tax Department acknowledged incorrect ‘significant transaction’ details in some advance tax reminder emails. Taxpayers are advised to ignore the earlier communication and verify details on the Compliance Portal.
Budget 2026 proposes a new penalty framework for failure to report crypto-asset transactions under section 509. Reporting entities may face ₹200 per day penalty or ₹50,000 for inaccurate information.
The Calcutta High Court declined to interfere with an income tax assessment order, holding that writ jurisdiction should not be exercised when a statutory appeal remedy is available. The Court directed the assessee to pursue the appellate process.
The Madras High Court examined repeated provisional attachment orders issued under Section 281B without detailed reasoning. The Court directed reconsideration of the attachment to enable the assessee to access working capital facilities.
The Court held that merely earning higher profits by related concerns does not establish diversion of trust funds. Without evidence of undue benefit to specified persons, Section 13(1)(c) cannot be invoked.
Section 332 of the Income-tax law outlines who can apply for non-profit registration, the eligibility criteria, and the process required to obtain tax exemptions for charitable institutions.
The High Court found that the taxpayer attempted to obtain a second refund despite already receiving the amount earlier. The Court set aside the order granting refund and imposed ₹5 lakh costs for misrepresentation.
The Court ruled that when an assessee certifies stock statements given to a bank as accurate and consistent with books, discrepancies can justify tax additions. The explanation that the figures were inflated merely to obtain higher credit was rejected.
The ITAT Gauhati ruled that relief under Section 89(1) cannot be denied solely because Form 10E was not filed before the due date. The Tribunal held that procedural lapses should not defeat substantive tax relief where eligibility is otherwise established.
