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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 : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
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 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 : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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...
Examines whether Tax Deducted at Source, while legally valid, creates working capital strain by forcing early tax payment before profits are determined.
A detailed look at how the Finance Act, 2021 reshaped Sections 147–151, introduced Section 148A, and reduced limitation periods while strengthening natural justice safeguards.
Budget 2026 restricts capital gains exemption on SGB redemption to original subscribers only. Secondary market investors redeeming after 1 April 2026 will now face capital gains tax.
Understand how agricultural income is exempt under the Income Tax Act, 1961, why only genuine cultivation qualifies, and where courts draw the line between farming and business.
The Supreme Court upheld the High Court’s ruling that no tax demand can be raised on an employee where TDS was deducted but not deposited. The SLP was dismissed on delay and merits.
The Tribunal held that rejection of 80G approval solely on religious objects was insufficient without examining whether religious expenditure exceeded 5% of total income. The matter was remanded for fresh consideration under Section 80G(5B).
The Tribunal held that once loan transactions are routed through banking channels and identity and genuineness are established, the assessee cannot be asked to prove the source of the source. The unsecured loan addition of Rs. 60 lakh was deleted.
The Tribunal held that once retail liquor sales were accepted and income estimated, cash deposits used for liquor purchases could not be treated as unexplained under Section 69A. The addition was deleted due to recorded business transactions.
ITAT Ahmedabad allowed three appeals for statistical purposes by setting aside CIT(A) orders and directing fresh adjudication, subject to deposit of ₹5,000 per case in the PM National Relief Fund.
Explains how the new Act replaces the 1961 law, simplifies drafting, introduces the “Tax Year” concept, and aims to reduce litigation and compliance burdens.
