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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...
Delhi High Court set aside the Section 148A(3) order for non-resident Ferra Engineering and remanded the case to the AO for fresh consideration on a capital gains transaction.
Tribunal held that an assessee cannot be penalized for delay caused by professional negligence of counsel, following Supreme Court precedent in Rafiq v. Munshilal, and remanded the case for verification of double addition due to audit reporting error.
The ITAT Ahmedabad rules that an assessment framed on a dissolved firm is not automatically void if the Assessing Officer (AO) was not notified of the dissolution. The case, Krishna Enterprise Vs ITO, involved a firm dissolved in 2016, a subsequent ex-parte assessment, and issues of non-compliance and alleged double taxation, leading to the matter being restored for re-adjudication.
The ITAT Mumbai ruled in ACIT Vs Deluxe Recycling India Private Limited that the increase in the safe harbour limit from 5% to 10% for the difference between stamp duty value and actual consideration under Section 56(2)(x) is curative and retrospective. The Tribunal dismissed the Revenue’s appeal, deleting an addition, and restored the issues of depreciation and rent disallowance to the Assessing Officer for de novo verification.
ITAT Kolkata sets aside ₹1.86 Cr tax addition, ruling that CIT(A) must pass a reasoned order on merits and cannot merely uphold the AO’s view or dismiss an appeal for non-compliance.
Summary of the Bombay High Court judgment where a charitable trust’s oversight in e-verifying its Form 10B was considered a human error and the delay was condoned, securing its Section 11 income tax exemption for A.Y. 2017-18.
ITAT Pune deletes ₹14 lakh cash deposit addition during demonetization, ruling that retaining cash from duly accounted sources for a long period is not grounds for suspicion.
The ITAT confirmed that the stamp duty value on the agreement date should be used for tax calculation, not the registration date, when part consideration is paid electronically beforehand.
Mumbai ITAT restored Discover Ekam Foundation’s Section 12AB registration matter to the CIT(E). Rejection, based on overseas fund use, will be re-adjudicated considering the trust’s revised Memorandum of Association.
CBDT directs Assessing Officers to standardize verification of pre-operative and film production expenses, following C&AG audit and PAC report.
