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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...
ITAT Bangalore invalidated a reassessment where the assessee was not provided the recorded reasons, emphasizing that reopening notices must be supported by clear, communicated reasons before filing returns.
The Tribunal ruled that depreciation for subsequent years is consequential to the first-year determination of actual cost. Appeals were restored as the base year issue remained undecided.
The Tribunal ruled that routine replacement of plant and machinery parts does not create a new asset or enduring benefit. Such expenses were held to be revenue in nature and fully deductible.
ITAT Bangalore ruled that interest earned by a cooperative society from bank deposits is attributable to its core business and eligible for deduction under Section 80P(2)(a)(i), reversing the denial by lower authorities.
Delhi ITAT ruled that assessments for AYs 2010-11 to 2012-13 under section 153C were invalid as the statutory block period starts from the satisfaction note date, not the original search.
The tribunal held that commission paid to overseas agents was a normal business expense and not taxable in India. Since no TDS was required, disallowance under section 37(1) was unsustainable.
The Tribunal held that while arbitrary disallowances are not sustainable, inadequate substantiation justifies estimation. Disallowances were restricted to 50% to balance fairness and compliance.
The Tribunal struck down reopening where reasons conflicted and rested solely on AIR cash-deposit data. The key takeaway is that reassessment needs a clear, reasoned nexus.
Supreme Court upheld the quashing of reassessment where scrutiny queries on deductions were earlier examined. It held that reopening based only on reappraisal of the same material amounts to an impermissible change of opinion.
The Court held that relief cannot be denied under Section 264 merely because a similar issue was earlier pending before the Supreme Court. The revision application was allowed as the issue was already covered by binding High Court rulings.
