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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...
Tribunal reviewed onion cultivation expenses claimed at 21% of gross receipts and found CIT(A)’s 35% estimate excessive. Net agricultural income accepted at Rs.67.12 lakh, partly allowing the appeal.
ITAT restored penalties under Sections 271AAC and 270A after noting CIT(A) dismissed appeal without hearing assessee. Case highlights necessity of providing a fair opportunity before imposing penalties.
ITAT Bangalore confirmed that income admitted under Section 132(4) constitutes undisclosed income under Section 271AAB. The assessee’s claim of voluntary disclosure to avoid litigation was rejected, validating the ₹30 lakh penalty.
ITAT Delhi held that TDS deposited by a buyer in a later year cannot override correct assessment year of capital gains. Form 71 enables taxpayers to claim such TDS credit in year of transfer.
The Supreme Court scheduled final hearing to determine if a trust working for a particular community can claim income tax exemption under Sections 11 and 12.
ITAT Kolkata held that an addition cannot be sustained solely on a survey statement under Section 133A. Proper verification of stock and business records is required before treating income as undisclosed.
ITAT Delhi held that an addition under Section 69C is invalid if it is not based on the allegations in the show-cause notice. The AO cannot exceed the notice, and procedural fairness is mandatory.
Tribunal ruled that massive companies like Infosys and TCS cannot be used as comparables when the assessee’s turnover is small, holding that size materially affects profitability. It directed exclusion of such entities and recalculation of margins.
ITAT Delhi ruled that sales already recorded in books and accepted under GST cannot be treated as unexplained income under Section 68 without independent verification. No addition can be made solely on untested statements.
ITAT Delhi held that Section 14A cannot be applied when no exempt income is earned, deleting a ₹1.24 crore disallowance. The Tribunal also condoned a 99-day filing delay due to reasonable cause.
