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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 new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...
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 Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...
Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....
Income Tax : The Tribunal held that BLT cannot be used for transfer pricing adjustments on AMP expenses. It ruled that no adjustment was warran...
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 held that reassessment based solely on a vague Investigation Wing alert, without any independent verification or link to the assessee, was invalid. It ruled that the AO failed to record a proper reason to believe and later assessed an unrelated issue. The entire reassessment was quashed for lack of jurisdiction.
The ITAT Delhi quashed reassessment for AYs 2017-18 & 2018-19, ruling that approvals from a lower authority instead of the one specified under Section 151(ii) are void. Revenue’s appeals were dismissed, emphasizing strict statutory compliance.
The ITAT ruled that a reassessment notice issued by a non-jurisdictional officer is void, quashing a demand of ₹1.01 crore and invalidating the assessment.
The Tribunal held that reliance on the remand report without giving the assessee a chance to rebut violated natural justice. While the jurisdiction challenge was rejected as time-barred under section 124(3), the ₹5.80 crore LTCG addition was sent back for fresh examination. The case underscores that appellate authorities must provide fair opportunity before upholding major additions.
The Tribunal reinstated the entire disallowance after finding the purchases completely non-genuine. It held that estimation theory cannot apply where transactions are proven to be sham.
CBDT instructs CIT(A) offices to issue intimation confirming withdrawal of appeals for MAP-resolved grounds, serving as proof for implementing MAP resolutions.
The ITAT ruled that payments for typing and DTP services fall under Section 194C, not 194J, and correctly attract 2% TDS. As a result, the addition made under Section 40(a)(ia) was deleted.
The ITAT Mumbai invalidated the reopening of an income-tax assessment under section 148, holding that no new tangible material was found. Interest income from co-operative banks and other receipts had already been considered in the original assessment.
Tribunal dismisses AO’s addition after assessing evidence, books of accounts, VAT returns, and confirmed ledgers, confirming the transactions’ authenticity.
Revenue’s claim of short-term gains was rejected; ITAT held that shares received as a gift inherit the donor’s acquisition date and holding period, validating LTCG and section 54F exemption.
