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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 Delhi High Court, in CIT v. Corteva Agriscience Pvt. Ltd., dismissed the Revenues appeals, confirming that penalty notices under Section 271(1)(c) of the Income Tax Act, 1961.
The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, cannot be treated as unexplained cash credit under Section 68 merely for the absence of buyers’ PAN or address details.
The ITAT Chandigarh ruled in Arun Dhir vs DCIT that a lump sum in lieu of pension is exempt under Section 10(10A), rejecting the necessity of receiving it strictly upon superannuation.
Calcutta High Court denies immediate interest u/s 244A on a court-directed refund where the underlying tax demand is still pending appeal, deeming the claim premature.
Himachal Pradesh High Court refuses to decide on the jurisdiction of Section 148 Income Tax notices for AY 2020-21 as a similar issue is pending before the Supreme Court; proceedings are stayed.
The Kerala High Court restored an income tax appeal for ‘Sea Castle An Ayurvedic and Leisure Hotel,’ which had been dismissed by the Tribunal due to a 588-day delay. The court noted the initial Assessing Officer’s (AO) order lacked a hearing opportunity for the assessee, violating natural justice.
Summary of special compensatory and field allowances available to armed forces personnel and salaried employees under Section 10(14) of the Income-tax Act, detailing fixed monthly exemption limits for working in difficult, remote, or high-altitude areas.
Bombay High Court admits PCIT appeal against ITAT deletion of disallowance under Section 40A(3) for excess cash payments, questioning reliance on a specific precedent.
Income Tax Notification No. 02/2025 approves M/s Mazumdar Shaw Medical Foundation for Scientific Research deduction under Section 35(1)(iia) from AY 2025-26 to AY 2029-30.
DCIT Vs Hindustan Clean Energy Ltd. (ITAT Delhi) Project Terminated, Shares Worth Zero – ITAT Allows ₹68 Cr Capital Loss & Strikes Down 68 Addition A 90MW hydropower project was allotted by the Himachal Pradesh Govt. to HPPPL in 2009, which paid ₹18 Cr upfront fees. A project company MHEPCL was formed, shares were moved […]
