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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 High Court set aside the assessment after finding that the order was passed before the scheduled video hearing. The ruling underscores that granting a requested personal hearing under Section 144B is mandatory.
The Tribunal held that late filing of Form 10DA is a procedural lapse and cannot justify denial of deduction when substantive conditions of Section 80JJAA are fulfilled. Deduction was directed to be allowed as the form was filed before return processing.
The Tribunal held that a plea of defective return due to unpaid tax cannot be accepted without examining the underlying income. The matter was remanded to verify whether the income was correctly reported or belonged to another year.
The ITAT ruled that once the assessee establishes the source of investment, addition for unexplained investment cannot survive. Direct payment by a financier through demand draft explained the transaction.
The case examined whether delayed filing of Form 10AB could be condoned after statutory amendments. The Tribunal held that post-October 2024 law empowers authorities to condone delay on reasonable cause and remanded the matter for fresh consideration.
The case examined taxation of a charitable entity when registration under Section 12A was unsettled. While scrutiny selection was upheld, the assessment was remanded to await the outcome of registration proceedings.
The tribunal held that penalty under Section 271AAB cannot survive when the notice fails to specify the exact charge or applicable clause. A vague and routine penalty notice violates mandatory legal requirements, rendering the penalty invalid.
The tribunal ruled that penalty under Section 270A cannot survive when income is assessed purely on estimated gross profit after rejecting books. Additions based on estimation do not amount to under-reporting or misreporting of income.
Authorities applied a higher stamp value at registration to compute capital gains. The Tribunal corrected this by directing consideration of the stamp value on the agreement date, subject to verification.
The tribunal set aside the disallowance of deduction on interest earned from cooperative bank deposits. Consistent judicial precedents confirm eligibility under Section 80P(2)(d).
