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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 accepted documentary evidence, including a director’s affidavit and Company Law Board (CLB) orders, as credible proof of sufficient cause for the inordinate delay. The case was restored, ensuring the assessee gets an opportunity to contest the 68 and House Property income additions.
Holding the tolerance band as a remedial measure, the Tribunal applied it retrospectively to avoid hardship where stamp duty and actual sale values differ by less than 10%.
Delhi High Court, citing the Supreme Court’s Aneeta Hada ruling, quashed criminal prosecution of Directors under Section 276. Vicarious liability requires the primary offender (Company) to be an accused.
ITAT Hyderabad rules that once income is estimated by rejecting books, no further addition can be made; ₹31.55 lakh added in liquor business case deleted.
Saroj Devi Haldiya vs. ITO: The ITAT Jaipur overturned an Rs.75 lakh addition under S. 56(2)(ix) of the Income Tax Act. The Tribunal ruled the reassessment was invalid due to borrowed satisfaction by the Assessing Officer, mechanical approval, and a severe violation of natural justice (two-day notice).
Income Tax Department has introduced a new feature in the e-filing portal that shows when an Assessing Officer or CIT(A) views a taxpayer’s submission, ensuring transparency and accountability in faceless assessments and appeals.
Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (under Section 44AB) and due date for filing corresponding Income Tax Return (ITR).
CBDT Circular 13/2025 addresses tax demands after ITR processing due to Section 87A rebate denial on special rate income. Interest waived if paid by Dec 31, 2025.
Interest under Section 234B cannot be levied on Section 115BBE-assessed income for resident senior citizens exempt from advance tax, as per ITAT and CBDT guidance.
ITAT Jaipur ruled that reassessment under Section 148 based solely on Investigation Wing’s report without independent verification is invalid and void ab initio.
