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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...
Section 87A tax rebate on STCG led to disputes after ITD software changes. Bombay HC & CIT(A) rulings clarify eligibility. Learn about legal and tax implications.
ITAT Jaipur’s ruling on Kailash Chand vs ITO case, analyzing tax assessment, additions, and legal compliance under Section 144 & 147 of the Income Tax Act.
ITAT Jaipur sends Puneet Singhvi’s capital gains case back to the Assessing Officer for a fresh review after the assessee failed to appear in earlier proceedings.
While a best judgment assessment can involve some arbitrariness, it must be an honest and fair estimate based on available material and circumstances, not capricious.
ITAT Jaipur sets aside Resonance Eduventures assessment orders, citing mechanical approval by Addl. CIT without proper application of mind as mandated under Section 153D.
ITAT Jaipur ruling on Parshavnath Buildestate Pvt Ltd vs ACIT regarding unexplained expenditures under Section 69C and taxation under Section 115BBE of the Income Tax Act.
ITAT Jaipur addressed tax deductions under Sections 54F & 54B in Kuldeep Singh Shekhawat vs. ITO, ruling on belated filings and capital gains exemptions.
ITAT Jaipur addresses depreciation, loan interest, business promotion, and salary expense disallowances in Ahluwalia Erectors case. Read key judgments and analysis.
ITAT Mumbai overturns Rs. 33 lakh addition under Section 69 in Aarti Sudarshan Soni vs. ITO, citing lack of evidence for alleged on-money property payment.
Supreme Court sets aside NCLT & NCLAT orders in Vaibhav Goel & Anr. Vs DCIT, ruling that income tax demands post-resolution plan approval are invalid.
