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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 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 : The case involved additions for unexplained bank deposits where the assessee later produced authenticated NRE account evidence. IT...
Income Tax : The Court dismissed the SLP due to a 390-day delay and absence of valid grounds. The ruling leaves intact the finding that interco...
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 Mumbai upheld relief granted by CIT(A) to Aishwarya Rai Bachchan, holding that the AO failed to record satisfaction before rejecting the assessee’s suo-moto disallowance under Section 14A. The Tribunal found the additional disallowance of ₹4.11 crore excessive and unsupported by evidence.
The Madras High Court stayed recovery for 90 days, allowing Faiz Wahab time to file a stay application after the sale advance refund was taxed as unexplained income.
The ITAT Mumbai dismissed the Revenue’s appeal, holding that penalty cannot be imposed where the assessee’s claim is based on a genuine interpretation of Section 44 and Rule 5 and involves a debatable issue.
The Tribunal directed estimation of income at 8% under Section 44AD after disallowing expenses due to lack of evidence in Friends Transport Carrier vs ITO.
Delhi High Court held that non-granting of exemption claimed under section 11 and 12 of the Income Tax Act due to delay of 16 days in filing audited report in From 10B not justified since the due to inadvertence error on the part of the auditor / tax professional.
The ITAT Lucknow held that the penalty imposed under Section 271C on NHAI was invalid as it was passed beyond the six-month limitation period and became unsustainable after deletion of the related addition.
The Delhi High Court found that further notices issued under Section 142(1) after the expiry of the statutory time limit were unlawful and ordered closure of reassessment proceedings.
The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding that Section 194LA applies only to monetary compensation.
ITAT Ahmedabad remanded the case of a charitable trust whose exemption claim was rejected owing to mismatched registration details, directing a fresh decision after hearing the assessee.
The ITAT held that the PCIT incorrectly invoked Section 263 to substitute the AO’s plausible view, ruling that a business disallowance under Section 37(1) does not automatically become deemed income under Section 69C.
