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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...
ITAT Ahmedabad held that property payments were properly explained with bank records and affidavits. Additions under Section 69 for cash deposit and stamp duty were deleted.
ITAT held that cash loans taken for son’s education were bona fide and supported by evidence. Reasonable cause under Section 273B justified deletion of penalty.
The ITAT relied on orders under section 148A(d) for subsequent years where reopening was dropped, holding the assessee to be a local authority. The earlier additions for unexplained investment and interest income were set aside.
The Tribunal set aside adjustments made under Section 143(1) after finding ambiguity on whether reasonable opportunity was granted. Issues were remitted to the Assessing Officer for fresh examination.
The Supreme Court stayed recovery of tax and interest demanded for non-deduction of TDS on foreign LTC reimbursements. The matter has been tagged with a related SLP for further consideration.
ITAT Ahmedabad held that appellate authorities can entertain fresh legal claims even if not made in the return of income. BSNL VRS-2019 compensation was held exempt u/s 10(10B), and rejection by CIT(A) was set aside.
The High Court ruled that LTC involving foreign travel is not exempt under Section 10(5) and TDS must be deducted under Section 192. The appeal was dismissed as no substantial question of law arose.
India taxes Virtual Digital Assets at 30% with strict loss restrictions. The article evaluates whether this regime is economically viable long term.
GAAR allows authorities to deny tax benefits from impermissible avoidance arrangements. The article evaluates whether it protects revenue without harming investor confidence.
ITAT Lucknow held that additions under Section 68 in search cases cannot be made without incriminating material found during search. Penny stock LTCG additions were deleted and departmental appeals dismissed.
