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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...
Karnataka HC rules compensation for land acquired by KIADB is exempt from income tax under Section 96 of the 2013 Land Act and confirms the refund of collected TDS.
N.T. Rahamathulla Khan Associates vs PCIT: High Court grants stay on tax demand, following precedent to protect the assessee from coercive recovery pending appeal outcome.
Karnataka HC quashes reassessment and penalty orders after finding the Jurisdictional AO initiated Sec 148A proceedings outside the scope of the Faceless Regime (Sec 151A).
Dakshina Kannada Sanathana Dharma Sangha vs ITO: High Court applies the Ramakrishna Seva Ashrama test, directing the AO to verify oral intent for corpus contributions.
Karnataka High Court rules payments by Goldman Sachs India to its overseas affiliates for shared services are non-taxable reimbursements, not Fees for Technical Services (FTS).
Read the ITAT’s order on the validity of share capital additions under the pre-amendment Section 68 for AY 2012-13. The ruling confirms that the Revenue must conduct thorough inquiries beyond mere non-service of summons to creditors.
Delhi High Court upheld reassessment for Agroha Fincap, ruling that the sanction “Yes, I am convinced it is a fit case” meets Section 151 requirements, rejecting the ITAT’s finding of mechanical approval.
Delhi High Court rules ITSC applications filed until March 31, 2021, are valid and must be treated as pending. Retrospective cut-off of February 1, 2021, is arbitrary, violating Article 14.
Judicial ruling confirms that investment source for property purchased by a homemaker was genuine. The ITAT found that the entire consideration had a clear trail from the son’s account, reversing the mechanical addition made by lower authorities.
Learn why the ITAT quashed the deemed dividend addition. The Tribunal found the payment was a salary adjustment, not a loan, and the AO failed to disprove the source of the cash credit.
