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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...
Applying judicial relief on Section 115BBE, the remaining tax demand fell below the prescribed threshold. The ruling reiterates that revenue appeals must be dismissed when tax effect is below CBDT limits.
The Tribunal ruled that purchases cannot be treated as bogus merely because suppliers did not reply to Section 133(6) notices. When books are audited, evidence is produced, and sales are accepted, disallowance under Section 69C is unsustainable.
The Tribunal ruled that cash deposited during demonetisation came from genuine business sales already offered to tax. It held that taxing the same amount again under Section 68 and Section 115BBE would amount to impermissible double taxation.
The notification exempts specified non-commercial e-governance income such as government grants, service charges, and consultancy receipts from tax. The key takeaway is that exemption applies only if statutory conditions are strictly followed.
The government has granted Section 10(46) tax exemption to a welfare board for cess, fees, and interest income. The relief applies retrospectively, subject to strict compliance conditions.
The notification exempts specified grant and interest income from tax. The benefit is conditional on non-commercial activities and proper return filing.
The Tribunal held that documented WhatsApp communications established counsel’s negligence and the assessee’s due diligence, justifying condonation of delay. The matter was restored for fresh adjudication to ensure substantial justice.
The ITAT held that once a resolution plan is approved under the IBC, income-tax proceedings cannot continue. Revenue appeals challenging deletion of additions were dismissed.
This article outlines major direct and indirect tax expectations from Budget 2026–27. The key takeaway is a push toward simpler compliance and higher taxpayer confidence.
The Budget is expected to further rationalise import duties to offset high metal prices and strengthen global competitiveness of jewellery exports. The key takeaway is cost relief to revive demand and exporter margins.
