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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 tribunal held that cash deposits during demonetisation cannot be treated as unexplained income when supported by audited books and stock records. Mere suspicion or surrounding circumstances cannot override accepted accounts.
ITAT Delhi held that satisfaction note recorded before initiation of the proceedings u/s 153C of the Income Tax Act is not a valid satisfaction. Accordingly, proceedings u/s. 153C of the Income Tax Act is quashed since based on invalid satisfaction.
A single approval was granted for multiple years without examining seized material or draft orders. The Tribunal ruled that such omnibus approval vitiates proceedings under Sections 153A/143(3).
xplains how the functions performed by an Indian subsidiary are tested under Article 5 to determine whether a foreign company forms a PE in India.
The tribunal held that merely declaring a low net profit rate cannot justify reopening under Section 147. A valid reassessment requires tangible material and a live nexus with income escapement.
The tribunal held that recomputation of deductions under Sections 36(1)(viia)(c) and 36(1)(viii) involves a debatable legal issue. Such matters cannot be corrected through Section 154 rectification proceedings.
India’s 89th Union Budget was presented on a Sunday for the first time, marking a historic departure from tradition and setting the stage for major tax law reforms.
The Tribunal held that reopening AY 2012–13 after a post-2021 search was barred by limitation. Applying Supreme Court guidance, it ruled that older limitation periods protect concluded assessments from retrospective reopening.
The Tribunal upheld deletion of disallowance where the tax authority failed to produce direct evidence linking the taxpayer to any refund of alleged bogus political donations.
Since the mandatory notice was issued by an officer lacking jurisdiction, the assessment was quashed as void ab initio. A valid notice by the correct officer within limitation is indispensable.
