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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 case focuses on systemic delays and technical shortcomings in the e-filing system. The Court directed the Department to file an affidavit addressing these concerns.
The new Act removes the confusion between Previous Year and Assessment Year by introducing a unified Tax Year system. This simplifies tax reporting and reduces common errors. The key takeaway is improved clarity and ease of understanding for taxpayers.
This covers how business income is computed under the Income-tax Act, including normal and presumptive methods. It explains deductions, disallowances, and treatment of various receipts under PGBP.
ITAT Agra held that the assessee is entitled to claim deduction u/s. 10A of the Income Tax Act before setting off carry forward losses and unabsorbed depreciation. Accordingly, appeal of the assessee succeeds on this ground.
The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasized that such issues may be examined during assessment proceedings.
The Tribunal upheld deduction of ESOP expenses under Section 37(1) by relying on binding jurisdictional High Court precedent. It ruled that prior judicial decisions in the assessee’s own case justified deletion of disallowance.
The Tribunal held that recorded sales forming part of turnover cannot be treated as unexplained cash credits. The key takeaway is that taxing gross sales again is impermissible in law.
The case examined reopening of assessment relying on earlier disallowance. The Court found that such disallowance had already been reversed by appellate authorities. The Supreme Court upheld the invalidation of the notice.
The case examined reopening based on a prior disallowance under Section 80IB(10). The Court found that the disallowance had already been reversed by appellate authorities. Therefore, reopening based on the same ground was held invalid.
The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income accrual and PE eliminates TDS liability.
