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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 ITAT Delhi remanded the disallowance of employee PF/ESI contributions under 36(1)(va), holding that the due date for deposit is calculated from the actual date of salary disbursement, not the calendar month of accrual. The AO was directed to verify if the deposit was made within 15 days of the month of actual payment to allow the deduction.c
The issue was whether high cash sales recorded before demonetisation, and subsequently deposited, could be taxed as unexplained income. The ITAT ruled that since the sales were already recorded, audited, and offered for tax, the deposits could not be taxed again under Section 68 or 69. The key takeaway is that when books of accounts are accepted and corroborated by stock and VAT returns, genuine sales receipts cannot be subjected to double taxation based on mere suspicion or averages.
This ITAT ruling draws a clear line: it upheld the legal and evidence-based addition of ₹6.12 lakh for deemed rental income on multiple house properties, but simultaneously deleted the entire ₹5,87,500 addition for unexplained cash credit, condemning the use of arbitrary 50% estimations by tax authorities.
The Tribunal deleted the ₹10 lakh penalty, ruling that an estimated addition based on the non-genuineness of purchases does not constitute concealment or furnishing inaccurate particulars. The decision reaffirms the Supreme Court principle that making an unsustainable claim does not automatically attract a penalty.
The ITAT significantly reduced an unexplained cash credit addition from Rs. 32.86 lakh to a lump-sum of Rs.4 lakh, reasoning that a regular exporter with maintained books cannot have the entire demonetisation deposit treated as unexplained. Crucially, the Tribunal directed the tax to be computed at normal rates, holding that Section 115BBE (higher tax rate) does not apply to the financial year 2016-17.
The ITAT invalidated a reassessment order because the Assessing Officer (AO) failed to make any addition on the sole issue for which the reassessment was initiated (cash deposits). Citing binding precedent, the Tribunal ruled that once the reason to believe ground is not established, the AO loses jurisdiction to make additions on entirely new issues, quashing the entire assessment.
The ITAT deleted a penalty under Section 271(1)(c), ruling that once the capital gains deductions (Section 54EC/54F) are substantially allowed in the quantum appeal, there’s no concealment of income. The Tribunal emphasized that filing a belated return within Section 139(4) does not automatically invalidate a genuine deduction claim, making the penalty unsustainable.
The ITAT ruled that interest on enhanced compensation for the compulsory acquisition of agricultural land is fully exempt from income tax, citing Section 96 of the RFCTLARR Act, 2013. The Tribunal held that this special law overrides the general tax provisions (Sections 56 and 145A), deleting the entire Rs.97.44 lakh addition.
This Income Tax appeal addressed whether a 5% infrastructure fee should be deducted based on gross bills or actual cash receipts. The Bombay High Court upheld the lower authorities decision, emphasizing that the expenditures deduction must strictly follow the contractual clause, which explicitly linked the 5% payment to total receipts, thereby restricting the allowable deduction.
Approval under Section 153D was invalid, as it was granted mechanically and collectively for several years, without independent application of mind. Such perfunctory approval defeats the statutory safeguard intended by the legislature. Consequently, the entire proceedings and assessments were quashed.
