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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 Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...
Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....
Income Tax : The Tribunal held that BLT cannot be used for transfer pricing adjustments on AMP expenses. It ruled that no adjustment was warran...
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 examined whether sales receipts can be treated as unexplained cash credits. It held that documented sales recorded in books cannot be taxed under Section 68.
The Tribunal dismissed the challenge to reassessment proceedings as no arguments were presented by the assessee. The ruling highlights that absence of pleadings can lead to automatic rejection of grounds.
ACIT Vs Bharat Rail Automations Pvt. Ltd. (ITAT Nagpur) The appeal before the Income Tax Appellate Tribunal (ITAT), Nagpur, arose from an order passed by the Commissioner of Income Tax (Appeals) allowing deduction under Section 80IA(4) of the Income Tax Act, 1961 to the assessee for Assessment Year 2015–16. The assessee, engaged in design, development, […]
The issue was whether TCS applies to compounding fees collected from illegal mining activities. The court held that Section 206C(1C) applies only where rights are transferred through lease or licence. The key takeaway is that absence of contractual or legal rights excludes TCS liability.
The Court held that indirect share transfers deriving value from Indian assets are taxable. Treaty benefits were denied due to tax avoidance structure.
The Tribunal invalidated reassessment proceedings since the Section 148 notice was issued after 01.04.2021, making it time-barred. The ruling reinforces strict limitation compliance for reopening cases.
Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be denied if investment is completed within the prescribed period, even if started earlier.
CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and loss adjustments for accurate compliance.
The new Act retains the arm’s-length principle but introduces refined definitions, stricter compliance, and enhanced penalties for related-party transactions.
The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoother tax compliance for taxpayers.
