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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 Jaipur remands Nidhivan Foundation’s 12AB registration case to CIT(E) for reconsideration, citing curable defects and need for fair hearing.
ITAT Bangalore deletes AO’s protective addition in LM Wind Power case, citing settled MAP proceedings on IT fees and commission payments.
ITAT Delhi dismisses DCIT’s appeal against Naresh Kumar Garg due to low tax effect, citing CBDT’s Rs. 60 lakh threshold in Circular No. 9/2024.
ITAT Kolkata rules that provisional registration under Section 12A is deemed regular. CIT (Exemptions) vs Indira Trust case clarifies procedural confusion.
ITAT Delhi rules against Income Tax Department’s new claims post-resolution plan approval for GAIL Mangalore Petrochemicals Ltd., citing Supreme Court precedents.
SC dismisses SLP in K R Jayaram’s tax case due to low tax effect. Reassessment under Section 147 deemed invalid. Legal question remains open.
ITAT Kolkata invalidates reassessment of Neena Commercial Pvt. Ltd. due to vague reasons and lack of jurisdiction for new additions. Legal precedents cited.
ITAT Mumbai rules that penalty under Section 271(1)(c) of the Income Tax Act cannot be levied on ad-hoc estimated income, dismissing Revenue’s appeal in ITO vs. Ashok Industrial Corporation.
Section 263 could not be used merely to impose a different view on the estimation rate. Since the declared income exceeded the presumptive tax threshold, there was no loss to revenue, making the revision unjustified.
Explore cryptocurrency taxation in India, including tax rates, GST ambiguities, compliance issues, and the need for a clear regulatory framework for digital assets.
