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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...
The Tribunal followed the Supreme Court’s V.C. Shukla principle, reaffirming that loose papers seized from third parties are without evidentiary value unless properly linked to the assessee through verified facts. ITAT, therefore, quashed both the 69A addition and the underlying 147 reopening as being based on mere surmises and conjectures.
Delhi High Court rules in PCIT v. Amadeus India that no Transfer Pricing adjustment is warranted for AMP expenses, citing no ‘international transaction.’ The Court reiterates the Finance Act 2022 amendment to Section 14A is prospective from AY 2022-23, not retrospective, dismissing the Revenue’s appeal for AY 2018-19.
This ruling underscores the requirement for independent verification of uncorroborated search material, deleting additions made for unexplained cash under Section 69A and Capital Gains based on an employee’s diary. ITAT’s decision confirms that mere suspicion or rough personal notings, full of inconsistencies, cannot be the foundation for substantial tax demands.
The ITAT Mumbai held that the denial of the right to cross-examine a third party whose statement forms the foundation of a tax addition constitutes a serious violation of natural justice, citing the Supreme Court. The Tribunal set aside the 68 additions of 1.56 crore (across two years) and remanded the case to the AO for de novo assessment with mandatory opportunity for cross-examination.
Madras High Court granted an interim stay on all recovery proceedings initiated by the Income Tax Department against the reassessment order. The Court explicitly linked its decision and the case’s future to the Supreme Court’s forthcoming ruling in Hexaware Technologies, establishing a clear procedural precedent for similar reassessment writ petitions.
The Delhi High Court set aside a reassessment notice and the corresponding order under Section 148A(3) because its basis was the incorrect assessment year for a major transaction. The Court, in the interest of fairness, remanded the matter, directing the AO to provide a fresh hearing after the taxpayer files documents proving the transaction occurred in AY 2018-19, not the reopened AY 2019-20.
This decision reinforces the legal requirement that supervisory approval under Section 153D is a substantive safeguard, not an empty ritual. The High Court affirmed that granting blanket sanction to 246 assessments through a generic endorsement is equivalent to a mechanical approval that fails to satisfy legislative intent.
The Ahmedabad ITAT has struck down reassessment orders against Arpanbhai Virambhai Desai, holding that the AO’s reliance solely on an ACB disproportionate assets report without independent application of mind or specifying escaped income is “borrowed satisfaction,” invalidating the Section 147 jurisdiction.
The Income Tax Appellate Tribunal (ITAT), Dehradun, quashed the retrospective cancellation of the charitable trust registration (Sec 12A/12AB) of Sushila Devi Centre. The Tribunal held that the PCIT (Central), Kanpur, acted without jurisdiction, asserting that only the CBDT-notified CIT (Exemption) possessed the authority to cancel such registrations under section 120.
The Income Tax Appellate Tribunal (ITAT), Delhi, upheld the addition of ₹19.06 Cr (AY 2011-12) and ₹17.53 Cr (AY 2012-13) to Raheja Developers Limited’s income. The ITAT confirmed the finding that the sale of 22 shops to M/s Sagar Trade Links Pvt. Ltd. (STPL) was a bogus transaction involving a shell company to route the developer’s own unaccounted funds back into its books as sale consideration.
