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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 : Tax authorities are increasingly questioning decision logic behind TDS deductions. The lack of recorded reasoning in ERPs makes co...
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 Tribunal ruled that an unsigned and undated draft agreement seized from a third party cannot justify an addition for unexplained investment without corroborative evidence.
HC found that ITC was allowed without addressing findings of paper transactions and returned payments. Matter was remanded for fresh consideration by Tribunal.
The Tribunal held that cash deposits representing trading receipts cannot be taxed in full as unexplained income. Only the estimated profit portion was directed to be assessed.
The High Court held that the tax department cannot deny set-off of short-term capital loss when the same claim was accepted in factually identical connected cases. Consistency in tax treatment was upheld.
The Tribunal held that excess stock found during survey, when arising from regular business activity and disclosed in accounts, cannot be taxed as unexplained investment under Section 69B.
The court held that delay in seeking a TDS refund could be condoned where tax was deducted due to an error, and directed authorities to examine the refund claim on merits.
The Tribunal held that when closing stock is revalued under Section 145A to include tax components, opening stock must also be revalued on the same basis. The case was remanded to ensure consistent valuation and accurate profit computation.
The Tribunal held that a notice issued after three years was time-barred under section 149. Since the ₹50 lakh exception did not apply, the reassessment was invalid.
The Tribunal held that reopening an assessment on a recurring issue already decided in favour of the taxpayer by the High Court is invalid. Pending appeal before the Supreme Court cannot justify reassessment.
The issue before the Court was whether a bare approval lacking application of mind could sustain proceedings under Section 153C. The Court held that mechanical approval vitiates the proceedings, reaffirming that valid approval is a mandatory jurisdictional requirement.
