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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...
The Supreme Court dismissed the Revenue’s plea after noting that earlier Tribunal and Supreme Court decisions covered the issue under Section 36(1)(viia). The High Court had rightly found no substantial question of law.
The Court held that interest income on securities accrues on the due date of payment and not on a daily basis. As the issue was covered by binding precedents, no substantial question of law arose.
The Supreme Court held that Leave Travel Concession involving foreign travel falls outside Section 10(5) exemption. Employers must deduct TDS where LTC journeys include foreign legs or deviate from the shortest domestic route.
The Delhi High Court set aside reassessment proceedings after finding that the PCIT granted only a signature without recording satisfaction, violating the statutory requirement of prior approval.
The Calcutta High Court set aside a reassessment order under Sections 148A(3) and 148, holding that the assessee was denied a fair opportunity to respond, even though notice was served at the consultant’s email address.
The ITAT Delhi held that merely because additions were sustained in quantum proceedings, penalty under Section 271(1)(c) cannot automatically follow. The Revenue must independently prove concealment or furnishing of inaccurate particulars.
The ITAT Kolkata held that revision under Section 263 was invalid where the Assessing Officer had already examined service tax liability and depreciation claims during assessment. The order was not erroneous or prejudicial to Revenue.
A clear analysis of India’s 6% and 2% digital tax framework, its legal basis under the Finance Acts of 2016 and 2020, and its global implications.
Draft Rule 66 requires mandatory audit, Form 32 filing, and section-wise document submission for claiming deductions under Sections 46 to 144, reinforcing strict procedural compliance.
Draft Rules 63–65 prescribe strict approval, notification, and compliance conditions for universities, sports bodies, and rent deduction claims under Sections 133 and 134, strengthening regulatory control and transparency.
