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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...
Thereafter, there was change in incumbent and fresh opportunity was provided and notice u/s.142(1) was issued. But this notice was returned back with the remarks that “the assessee was not in given address”.
Understand relief mechanisms and defences under Section 271D of the Income Tax Act for accepting cash loans or deposits over ₹20,000 in specific circumstances.
Rajasthan HC addresses Alkem Labs’ challenge against an arbitrary income tax adjustment under Section 143(1). Cost imposed for delayed refund.
Rajasthan HC quashes prosecution sanction against e-commerce company for delayed TDS deposit, citing late bill submissions.
To ensure fairness, the ITAT set aside the CIT(A)’s order and remanded the disputed issues back to the CIT(A) for a fresh hearing. This decision was made contingent upon the assessee paying a cost of Rs. 2,000 to the Income Tax Department within one month and providing proof of payment.
ITAT set aside the CIT(A)’s order and remanded the matter back to the CIT(A) to decide the appeal afresh after providing the AO an opportunity under Rule 46A(3) to examine the new evidence submitted by the assessee.
ITAT Mumbai remands case of Sandeep Singh Karhail vs Girish Agrawal for fresh hearing, citing lack of opportunity and procedural lapses in reassessment.
Araadhya Jain Trust Vs ITO (ITAT Mumbai) Whether surcharge is applicable at respective surcharge slab rate or at maximum surcharge rate in case of the Private Discretionary Trust? In a significant ruling that brings clarity to taxation of Private Discretionary Trusts, the Income Tax Appellate Tribunal (ITAT) Special Bench has held that surcharge on such […]
ITAT Delhi held that addition under section 68 of the Income Tax Act by treating LTCG as bogus merely on the basis of assumption and conjecture is not sustainable in law since purchase and sale of shares were made via banking channel.
Kerala HC rules no separate challenge needed for Sec 263 remand order before appealing revised assessment; restores Malabar Institute’s appeal.
