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Income Tax : The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowan...
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
Income Tax : The new law replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms...
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 : 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 case examined whether reassessment approval beyond three years was issued by the competent authority. The court held that appr...
Income Tax : The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds earmarked for asset ac...
Income Tax : The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond three years. It...
Income Tax : The court examined whether interest on FDRs could be taxed as other income. It held that where funds are linked to a project, the ...
Income Tax : The court examined whether interest on share capital parked temporarily could be taxed. It held that where funds are directly link...
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 Nagpur held that addition made on the basis of dumb documents, loose paper containing scribbling, rough/vague noting’s in the absence of any corroborative material is not tenable in law. Thus, appeal of revenue dismissed.
ITAT Ahmedabad dismisses appeal in Pavankumar M Sanghvi Vs ITO. Unexplained unsecured loans from shell entities treated as income. Interest deduction disallowed.
Bombay High Court permits challenge to 153C jurisdiction, ruling cross-objections not required to support favorable order.
Gujarat High Court dismisses appeal, upholds addition of unexplained cash credit under Section 68, citing lack of genuine transactions.
ITAT Ahmedabad upheld the deletion of ₹86 lakh addition for unsecured loans, citing sufficient evidence and loan repayment by Cloud 9 Infraspace LLP.
ITAT Ahmedabad allows the appeal in the case of Kshama Sanjay Tripathi, accepting family sources for property investment and dismissing unexplained expenditure.
ITAT Kolkata held that provisions of section 56(2)(x) of the Income Tax Act were inserted by Finance Act, 2017 and effective only from 01.04.2017. Thus, provisions of section 56(2)(x) is not applicable when flat is brought prior to 01.04.2017.
Assessee had appealed against the order dated 12.06.2024 and 18.06.2024 passed by Commissioner of Income Tax (Appeals) [CIT(A)] for the AY 2016-17, 2017-18 and 2018-19,challenging the denial of deduction under section 80P(2)(d) on certain interest incomes.
ITAT Mumbai dismisses the appeal of Pesticides Manufacturers and Formulators Association of India as the assessee applies for settlement under the VSV Scheme.
ITAT Delhi rules excise duty refund to Jindal Saw Ltd as capital receipt, not taxable. Cites earlier rulings and applies ‘purpose test’ from Ponni Sugars case.
