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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 new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...
Income Tax : The ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ...
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 government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : The Tribunal upheld deletion of expense disallowance after finding that occupation charges were settled during the relevant year. ...
Income Tax : The case addressed whether charging fees negates charitable status. The Tribunal held that this alone cannot justify rejection and...
Income Tax : The Tribunal set aside the appellate order as the assessee sought another chance to prove the genuineness of expenses. It directed...
Income Tax : The Tribunal held that receipts from sponsorship and royalty were incidental to the promotion of sports. It ruled that absence of ...
Income Tax : The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent reporting err...
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...
ITAT Mumbai quashed reassessment for AY 2015–16 as time-barred under amended Section 149, since escaped income was below ₹50 lakh; entire penny stock addition u/s 68 was held void without examining merits.
The case involved penalty on disallowance of purchases treated as non-genuine and estimated at 12.5%. Tribunal ruled that estimated additions do not establish concealment, hence penalty u/s 271(1)(c) is unsustainable.
The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but imposes stricter monitoring and penalties.
The Tribunal deleted additions where the Revenue failed to prove actual cash transactions. It emphasized that suspicion and assumptions cannot replace evidence. The ruling protects taxpayers from arbitrary additions.
The Tribunal condoned delay due to reasonable cause and addressed valuation mismatch. It remanded the issue for DVO-based reassessment. The ruling balances procedural leniency with substantive justice.
ITAT Mumbai remanded ₹95.81 lakh commission disallowance, holding that non-response to Section 133(6) notices alone cannot justify addition without proper verification; ad-hoc expense disallowance reduced from 20% to 10%.
The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that immediate operationalisation of approved members is necessary to restore efficiency and timely justice.
The Tribunal held that disallowance of gratuity without examining supporting evidence requires reconsideration. The case was remanded to the AO for fresh adjudication based on newly submitted documents.
The issue was whether addition under Section 56(2)(x) based on stamp value was justified despite conflicting private valuation. The Tribunal directed the AO to obtain a DVO report and reconsider the addition as per law.
ITAT Bangalore remanded ₹49.43 lakh sundry creditor addition and ₹3.74 lakh TDS disallowance, holding that lack of proper evidence analysis and factual verification violated natural justice, requiring fresh adjudication by AO.
