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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 additions based solely on a survey statement, without corroborative evidence, are unsustainable. Development expenses were largely allowed, with only a reasonable estimated disallowance retained.
The issue was whether bank cash deposits could be treated as unexplained despite accepted cash advances. The Tribunal held that telescoping applies, deleting additions to avoid double taxation of the same source.
Cash deposits during demonetisation were held to be business receipts already recorded as sales in audited books. The tribunal ruled that taxing the same receipts again under Section 68 amounts to double taxation.
The Revenue challenged the appellate authoritys decision to remand an ex-parte order. The Tribunal ruled that the remand was lawful and well within statutory appellate powers.
The ruling clarifies that denial of charitable exemption for delayed Form 10B goes beyond Section 143(1). If verification is needed, it cannot be resolved through mechanical processing adjustments.
Penalty for delayed filing of tax audit report was quashed after illness of the managing director was proved. The tribunal held that medical incapacity constituted reasonable cause under Section 273B.
The dispute involved denial of indexed interest while computing long-term capital gains. The Tribunal ruled that interest incurred wholly for acquiring an asset is deductible under Section 48.
The case confirms that co-operative societies can claim Section 80P(2)(d) deduction on interest earned from co-operative banks. The appeal was allowed due to clear judicial precedent supporting the claim.
The case examined whether vague information justified reassessment proceedings. The Tribunal ruled that absence of concrete material and nexus to escapement makes reopening without jurisdiction and liable to be quashed.
The addition was struck down as income was taxed before execution of sale deeds. Advances shown as liabilities were correctly offered to tax only when ownership passed to buyers.
