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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...
ITAT Bangalore held that penalty order under section 272A(2)(e) of the Income Tax Act has to be passed within reasonable time. Since, the penalty order is not passed within reasonable time, the same is liable to be quashed.
ITAT Jaipur held that once the jewellery and silver articles are considered as belonging to the family as a whole, there does not remain any unexplained gold jewellery. Hence, addition towards unexplained gold jewellery is liable to be deleted.
The assessee acts as a corporate agent for Max Life Insurance Company in respect of marketing it’s insurance policies. The assessee charges commission from Max Life in lieu of rendering such services.
Karnataka High Court held that interest under section 201 of the Income Tax Act and late filing fee under section 234E leviable for non-deduction of TDS from sale consideration paid to Bengaluru Development Authority [BDA] for allotment of made by BDA.
Assessee was specifically asked to justify its claim as the agreement had to be with (a) Central Government (b) State Government (c) Local Authority or (d) Statutory Authority and LMRCL did not fit in any of the four categories.
Delhi High Court held that reassessment under section 148 of the Income Tax Act entirely based on course of survey not sustainable and liable to be quashed. Further, survey in particular year cannot be extrapolated to other years.
ITAT Ahmedabad upholds deduction of GST interest & late fees, ruling they are compensatory, not penal. Read the key observations & legal precedents cited.
Madras High Court rules in A.R. Safiullah Vs ACIT, quashing a tax notice under Section 153A for AY 2009-10, citing statutory limits on search-based assessments.
ITAT Visakhapatnam sets aside penalty on Malla Appalaraju under Section 271(1)(c) due to a defective notice, ruling it void ab initio.
ITAT Mumbai rules on Radiant Life Care’s appeal against disallowance under Section 14A of the Income Tax Act. Key interpretation of Rule 8D(2)(ii) discussed.
