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Income Tax : Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including deductions, deadlines,...
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 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 ITAT Delhi held that reassessment under Section 147 was invalid where the AO failed to record any allegation of the assessee’s failure to disclose material facts. The ruling reaffirms that reopening beyond four years requires strict compliance with the proviso to Section 147.
TCS under Section 206C(1G) applies to foreign remittance under LRS by resident individuals. Thresholds and rates differ for education, medical, and others.
ITAT Mumbai held that benefit under section 115BAA of the Income Tax Act cannot be denied for inadvertent filing of Form 10-IB in place of Form 10-IC since the same is technical lapse. Accordingly, order of CIT(A) is sustained and appeal of revenue is dismissed.
ITAT Mumbai held that revisionary proceeding under section 263 of the Income Tax Act is liable to be quashed since AO took one of the possible views while allowing claim of deduction under section 54F. Accordingly, order is quashed and appeal is allowed.
ITAT Mumbai set aside CIT(A)’s order for lack of compliance with Rule 46A in a case involving alleged bogus penny stock transactions under Aarya Global Shares.
ITAT Pune held that denial of exemption under section 10(23C)(iv) of the Income Tax Act merely because of inadvertent error of claiming exemption u/s. 10(46) instead of 10(23C)(iv) is not justifiable. Accordingly, exemption u/s. 10(23C)(iv) granted.
Gujarat High Court quashed CBDT’s rejection and condoned delay in Sysco Industries’ income tax return filing, holding that insolvency and fire caused genuine hardship.
Denial of weighted deduction u/s 35(2AB) for non-furnishing of Form 3CL did not preclude normal deduction u/s 35(1)(i) and depreciation u/s 32, as the research was related to the assessee’s business.
Understand deferred tax assets and liabilities under the Income-tax Act, 1961 — their meaning, recognition, timing vs. permanent differences, and impact on future tax liabilities and refunds.
Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdrawal of exemptions.
