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Income Tax : ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification ...
Income Tax : The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...
Income Tax : Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensu...
Income Tax : Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to a...
Income Tax : The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance and improves...
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 government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : The issue was whether a reassessment notice issued by a jurisdictional officer instead of a faceless officer is valid. The Court h...
Income Tax : The Tribunal held that addition under Section 41(1) cannot be made without proof of actual cessation of liability. It found that m...
Income Tax : The Tribunal ruled that surrender of tenancy rights occurs only upon receiving new property possession. As possession was given la...
Income Tax : The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be t...
Income Tax : The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action violates principl...
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 Court addressed prolonged pendency of a Section 143(1) appeal and directed the appellate authority to decide it within eight weeks, reinforcing timely appellate adjudication.
The ITAT ruled that once profits are estimated under Section 145, further disallowances of salary or commission expenses cannot be made from the same books, emphasizing assessment consistency.
This guide explains that disclosure under Schedule FA is mandatory, even for zero-income foreign accounts or unsold RSUs. Following calendar-year reporting and proper documentation helps avoid penalties up to ₹10 lakh.
This explains how most notices arise from differences between ITR data and information available with the tax department through AIS and SFT.
The Tribunal held that once cash received was accepted in assessment without any addition, penalty for alleged violation of Section 269SS could not be sustained.
Along with merits being covered by precedent, the Court noted a significant delay in re-filing. On both procedural and substantive grounds, the appeal was dismissed.
Gujarat High Court held that disallowance of claim made in return cannot amount to furnishing of inaccurate particulars. Accordingly, penalty under section 271(1)(c) of the Income Tax Act cannot be levied in such case. Thus, appeal of revenue dismissed and questions of law answered in favour of assessee.
The dispute concerned how aggregate average advances should be computed for bad debt provisions. The Court held that cumulative month-end outstanding advances, not incremental lending, must be used.
Karnataka High Court held that revision petition u/s. 264 of the Income Tax Act wrongly dismissed by holing that delay in filing revision petition cannot be condoned since the revisional authority already condoned the delay.
The Delhi High Court held that a draft assessment order issued against a company that had ceased to exist due to amalgamation is invalid. Such proceedings suffer from a substantive jurisdictional defect.
