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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
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 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 Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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...
Gujarat High Court held that assessment order passed under section 147 of the Income Tax Act without granting opportunity of personal hearing is not tenable. Accordingly, the order is quashed and appeal is allowed.
The ITAT Delhi deleted additions made under Section 153A for unabated/completed assessment years (AYs 2013-14 to 2016-17) following a search. The ruling strictly applied the Supreme Court’s mandate in Abhisar Buildwell that additions in completed years require the finding of incriminating material during the search.
ITAT Chandigarh upheld rejection of Endocrine And Breast Surgery Foundation’s Section 12A registration, ruling its activities were unethical and focused on networking with pharma companies rather than genuine charitable work.
The Delhi High Court dismissed an appeal challenging the ITAT’s rejection of a rectification plea to recall an appeal order; the court found no mistake apparent on record and upheld the ITAT’s finding of no prejudice to the assessee.
ITAT Pune ruled that the late filing of the Form 10B audit report is not fatal to the charitable trust exemption if filed before assessment completion. The court reversed the disallowance of application of income solely based on procedural delay.
CBDT notifies Ayodhya Vikas Pradhikaran as exempt under Section 10(46A) of the Income Tax Act, effective from AY 2024-25, with retrospective effect.
CBDT grants tax exemption to Haryana Building and Other Construction Workers Welfare Board for specific income types under Section 10(46) from FY 2025-26 to 2029-30, with compliance conditions.
The ITAT Rajkot set aside the addition of ₹16.99 lakhs in Long Term Capital Gain (LTCG) against the assessee, who acted only as a Power of Attorney (POA) holder for the property sale. The Tribunal remitted the matter to the Assessing Officer for fresh adjudication, noting the assessee was not the property owner or seller.
The Gujarat High Court quashed a faceless assessment order totaling Rs. 3.87 crore after finding the Assessing Officer failed to consider the assessee’s timely reply, violating principles of natural justice.
Delhi ITAT held that disallowance under Section 14A cannot be made without Assessing Officer recording satisfaction about correctness of assessee’s claim. Since no such satisfaction was recorded, ₹25.06 lakh disallowance was deleted.
