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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 ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ...
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 Tribunal upheld deletion of expense disallowance after finding that occupation charges were settled during the relevant year. ...
Income Tax : The case addressed whether charging fees negates charitable status. The Tribunal held that this alone cannot justify rejection and...
Income Tax : The Tribunal set aside the appellate order as the assessee sought another chance to prove the genuineness of expenses. It directed...
Income Tax : The Tribunal held that receipts from sponsorship and royalty were incidental to the promotion of sports. It ruled that absence of ...
Income Tax : The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent reporting err...
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...
Since petitioner’s requests for time were ignored and no hearing was granted, Court held the order unsustainable. matter was remanded with instructions to allow additional replies and reconsider all issues.
Tribunal remanded the case to the AO to reassess ULIP maturity receipts treated as unexplained investment after the exemption claim was not evaluated earlier.
Since valid service of notice was a mandatory jurisdictional requirement before initiating reassessment proceedings, therefore, purported notices issued under Section 148 including reassessment proceedings under
ITAT Bangalore held that mere delay in filing the return of income cannot be construed as a violation so grave as to justify cancellation of registration under Section 12AA(4). Delay in return was unintentional hence cancellation of registration u/s. 12AA not justified.
Telangana High Court held that amount paid towards cancellation of agreement is liable to be disallowed under section 48(i) of the Income Tax Act since the no condition was stipulated in original Memorandum of Understanding hence in absence of contractual obligation the disallowance of said amount is justified.
The Court held that authorities cannot take coercive steps against taxpayers in a fake ITC investigation if they participate fully in the inquiry. Cooperation ensures protection from arrest or similar actions.
Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wise misclaims.
Tribunal held that AO did not establish any defect in identity, genuineness, or creditworthiness of share subscribers. Addition under Section 68 was deleted.
The Tribunal held that the appellate authority failed to examine inventory-related documents before sustaining disallowance under section 37(1). The matter was sent back for fresh adjudication with directions to consider all evidence.
The Court held that the show cause notice provided less than seven days to respond, contrary to the prescribed procedure. The assessment and related notices were set aside and the matter remanded for reconsideration.
